Case Studies

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.

Acquisition of U.S. Generics Company by Indian Pharmaceutical Manufacturer

Kegler Brown Hill + Ritter served as buy-side counsel for India-based Strides Pharma, Inc., in its acquisition of U.S.-based generics company Vensun Pharmaceuticals, Inc., represented by Goodwin Procter LLP.

Strides benefits from Vensun’s strategic focus on niche ANDAs, and its portfolio of 16 commercialized ANDAs, four of which are partnered with Strides and constitute a significant part of Vensun’s current revenues of $~17 million.

Vensun’s portfolio also comprises an additional 13 filed ANDAs, which includes Strides Competitive Generic Therapy (CGT) designated product with a $400 million market opportunity. The company also has a development pipeline with two other partners for ten products.