Indian Pharmaceutical Manufacturer Acquires Florida Plant
Kegler Brown Hill + Ritter assisted India-based Strides Pharma, Inc., in the acquisition of an FDA- approved manufacturing facility in Florida.
Located in Riviera Beach, Florida, it is the only FDA-approved facility in the U.S. to have integrated manufacturing-packaging capabilities for soft gel capsules.
Strides acquired the manufacturing facility under an asset purchase agreement with Micelle Biopharma, Inc. for a consideration of $0.5 million and will invest up to $10 million to build incremental capabilities and add additional dosage formats. With the addition of the Florida site, Strides now has eight formulation sites globally catering to the regulated and emerging markets.