Strides acquires USFDA approved manufacturing facility in the US for US$ 0.5 Million
Bangalore : 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. for a consideration of US$ 0.5 Million . SPI has plans to invest up to US$ 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.
Micelle’s facility is based in Riviera Beach, Florida and is one of the very few manufacturing facilities in the US with a soft gel 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.