Strides acquires FDA-approved manufacturing facility in US

Bengaluru-headquartered Strides Pharma Science Limited on Tuesday announced that its step down subsidiary Strides Pharma Inc (SPI) has acquired a USFDA-approved manufacturing facility in Florida, USA, from Micelle BioPharma Inc.

Micelle's facility is based in Riviera Beach, Florida, and is one of the very few manufacturing facilities in the US with a softgel capsule (SGC) manufacturing suite for formulations with containment needs, a press statement from Strides said.

"It (Micelle) is also the only FDA-approved integrated manufacturing-packaging SGC facilityin the US. The site has undergone several successful FDA inspections and has no outstanding FDA observations," Strides said.

SPI has acquired the manufacturing facility under an asset purchase agreement with Micelle Biopharma, Inc., for a consideration of USD 0.5 million and would invest upto USD 10 million to build incremental capabilities and add additional dosage formats, the statement added.