Strides Pharma Science to acquire Endo's manufacturing facility at Chestnut Ridge, New York

For consideration of USD 24 mn

Strides Pharma Science announced that its wholly owned subsidiaries have entered into definitive agreements with subsidiaries of Endo International plc (Endo) to acquire its manufacturing facility at Chestnut Ridge, New York and a basket of ANDAs.

The facility at Chestnut Ridge, New York has an annual capacity of 2 billion units across semisolids, liquids, nasal sprays along with oral solids. The facility is also registered with the Drug Enforcement Administration (DEA) enabling manufacturing of controlled substances.

Under the terms of the agreement, Strides will pay ~US$24m for the acquisition. The transaction will be financed by a combination of internal accruals and debt financing. The transaction is expected to close in CY2021 subject to customary closing conditions.

 

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