Strides Pharma Science’s step?down wholly?owned subsidiary -- Strides Pharma Global Pte has entered into a definitive asset transfer and licensing agreement with Pharmaceutics International, Inc.(Pii) to acquire 18 Abbreviated New Drug Application (ANDAs) for the US market.
With access to these products, the company will significantly expand its niche offerings on its front end, which has grown multi?folds to attain a quarterly revenue size of $66 million. Of the 18 products successfully developed by Pii with their Pharmaceutics Know How, 11 are currently approved by United States Food and Drug Administration (USFDA), while the remaining seven products are submitted and are under different stages of review with the Agency.
Out of the 11 approved ANDAs, the company is currently commercializing two ANDAs with product supply from Pii, while the remaining approved ANDAs will be transferred to Strides’ global manufacturing facilities and commercialized over the next 18?24 months.
Strides Pharma Science (Formerly Strides Shasun) is a pharmaceutical company with a major focus on development and manufacture of IP-led niche finished dosage formulations. It is also among the world’s largest manufacturers of soft gelatin capsules.
