Bengaluru, Aug 27 : Strides Pharma Science Limited (Strides) on Tuesday announced that its step down subsidiary Strides Pharma Inc.(SPI) has acquired a USFDA(FDA) approved manufacturing facility in Florida, US from Micelle BioPharma, Inc.
SPI has acquired the manufacturing facility under an asset purchase agreement with Micelle Biopharma, Inc. for a consideration of US Dollar 0.5 Million and will invest up to US Dollar 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, according to a release here on Tuesday.
Michelle's facility, based in Riviera Beach, Florida, is one of the very few manufacturing facilities in the US with a softgel capsule(SGC) manufacturing suite for formulations with containment needs. It is also the only FDA approved integrated manufacturing-packaging SGC facility in the US.
The site has undergone several successful FDA inspections and has no outstanding FDA observations. (UNI)