With the help of the NY gov­er­nor's of­fice, Strides Phar­ma ac­quires new man­u­fac­tur­ing site

An In­di­an bio­phar­ma has seen its US busi­ness in­crease ac­cord­ing­ly as it’s ex­pand­ed its port­fo­lio, and the com­pa­ny is ac­quir­ing a man­u­fac­tur­ing site on the New York/New Jer­sey bor­der to up an­nu­al ca­pac­i­ty and avoid sup­ply chain woes.

Strides Phar­ma will ac­quire En­do’s Chest­nut Ridge, NY fa­cil­i­ty and a “bas­ket of ab­bre­vi­at­ed new drug ap­pli­ca­tions,” the com­pa­ny an­nounced. The ac­qui­si­tion will cost Strides about $24 mil­lion, and will be fi­nanced through a com­bi­na­tion of in­ter­nal ac­cru­als and debt fi­nanc­ing. The deal is set to close in 2021.

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