Date: 28-Aug-2019

Strides Pharma acquires manufacturing facility from US-based Micelle BioPharma

Strides Pharma Science Ltd said on Tuesday that its step-down subsidiary Strides Pharma Inc has acquired a manufacturing facility in Florida from Micelle BioPharma Inc. "Strides Pharma Inc has acquired the manufacturing facility under an asset purchase agreement with Micelle Biopharma Inc for a consideration of 0.5 million dollars (about Rs 3.6 crore) and will invest up to 10 million dollars (about Rs 71.7 crore) to build incremental capabilities and add additional dosage formats," the company said in a statement.