Strides Pharma Science’s 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 proposed acquisition will further bolster Strides US presence through acquisition of a multi dosage facility in the US and a basket of ANDAs cutting across multiple therapeutic segments. The cumulative addressable market for the acquired portfolio is $4.7 billion (IQVIA MAT May 2021).
Under the terms of the agreement, Strides will pay $24 million 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.
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.
