R Ananthanarayanan, Strides Pharma CEO

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.

In a state­ment, CEO R Anan­tha­narayanan said:

We be­lieve with the com­bined prod­uct port­fo­lio, ex­pe­ri­enced man­age­ment team, es­tab­lished fron­tend and a di­ver­si­fied man­u­fac­tur­ing foot­print we have cre­at­ed a strong foun­da­tion to achieve our pre­vi­ous­ly stat­ed growth am­bi­tion for the mar­ket. On com­ple­tion of the trans­ac­tion, our im­me­di­ate fo­cus will be on seam­less in­te­gra­tion of peo­ple and the ac­quired as­sets on­to Strides’ plat­form.

The move comes as the US has emerged as the largest mar­ket for Strides, mak­ing up 48% of 2021’s rev­enue. The mul­ti-dosage fa­cil­i­ty will help the com­pa­ny up its an­nu­al ca­pac­i­ty, as it has the po­ten­tial to pro­duce 2 bil­lion units a year across se­mi-sol­id, liq­uid, nasal spray and oral sol­id dosage form. Strides is the world’s largest man­u­fac­tur­er of soft gelatin cap­sules.

Strides says the site mir­rors its flag­ship lo­ca­tion’s ca­pa­bil­i­ties in Ben­galu­ru, In­dia, but with be­ing in the US, it will be able to cater to con­tracts with US gov­ern­ment pro­cure­ment pro­grams, such as the De­part­ment of Vet­er­ans’ Af­fairs. The com­pa­ny will take on 20 com­mer­cial prod­ucts. The AN­DAs that it has brought in will help launch its new US strat­e­gy, which in­cludes plans for five to six new prod­ucts a quar­ter.

Strides spun out its biotech busi­ness un­der Stelis in Feb­ru­ary, with the board of di­rec­tors form­ing a com­mit­tee to ex­plore var­i­ous op­tions of “val­ue dis­cov­ery.”

With the buy­out, Strides will re­tain 215 of the em­ploy­ees pre­vi­ous­ly em­ployed by En­do, add an­oth­er 40 jobs and in­vest an­oth­er $42 mil­lion over the next few years to make both brand-name and gener­ic drugs. It will al­so op­er­ate as a con­tract man­u­fac­tur­er.

New York will pro­vide the com­pa­ny with up to $10 mil­lion in tax cred­its for re­tain­ing the cur­rent em­ploy­ees and cre­at­ing those 40 jobs.

“The Covid-19 pan­dem­ic has made clear that hav­ing do­mes­ti­cal­ly pro­duced med­ical sup­plies, es­pe­cial­ly in times of cri­sis, is crit­i­cal for a se­cure sup­ply chain and a safer New York,” Gov. Kathy Hochul said in a press re­lease. “I am pleased that Strides Phar­ma, Inc will ex­pand in the Mid-Hud­son re­gion, cre­at­ing good pay­ing jobs and in­vest­ing in the state’s econ­o­my.”

Bio­mark­er 'roadmap­s' and the fu­ture of can­cer R&D; Cur­tain rais­es on #AS­CO22; Pfiz­er, No­var­tis tack­le drug ac­cess; and more

Welcome back to Endpoints Weekly, your review of the week’s top biopharma headlines. Want this in your inbox every Saturday morning? Current Endpoints readers can visit their reader profile to add Endpoints Weekly. New to Endpoints? Sign up here.

While this was not a week for earth-shattering news, there were certainly a lot of interesting tidbits. If you found this recap helpful, please recommend it to your friends and colleagues. We’ll see you on the other side of the long weekend.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 142,800+ biopharma pros reading Endpoints daily — and it's free.

Keep­ing pres­sure on Am­gen, Mi­rati draws mixed re­views on lat­est cut of KRAS da­ta

As the close runner-up to Amgen’s Lumakras in the KRAS race, any data cut from Mirati’s adagrasib continues to draw scrutiny from analysts. And the latest batch of numbers from ASCO is a decidedly mixed bag.

While a quick comparison suggests that adagrasib spurred slightly more responses and led to a longer overall survival than Lumakras among a group of non-small cell lung cancer patients, its duration of response appears shorter and the safety profile continues to spark concern.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 142,800+ biopharma pros reading Endpoints daily — and it's free.

Switzer­land to de­stroy over 600,000 ex­pired dos­es of Mod­er­na Covid vac­cine

As concerns related to uptake and distribution continue to linger, Switzerland is among the first countries that plans to destroy hundreds of thousands of expired and unused Covid-19 vaccine doses.

The European country said it plans to destroy more than 600,000 doses of Moderna’s Spikevax Covid-19 vaccine as the doses have reached their expiration date.

However, Moderna CEO Stéphane Bancel told the World Economic Forum in Davos, Switzerland that he’s in the process of throwing 30 million doses in the garbage, exclaiming, “We have a big demand problem.”

Ann is one of ViiV Healthcare's newest spokespeople as the retired school administrator speaks up about her HIV status.

GSK's Vi­iV de­buts next evo­lu­tion in HIV med Dova­to cam­paign with new spokes­peo­ple and new mes­sage

When Ann saw the first TV commercials for HIV medicine Dovato, she didn’t see herself represented. So the 74-year-old retired school administrator who’s been living with HIV since 1998, reached out to GSK’s ViiV Healthcare and asked why not?

Now Ann is one of three people starring in ViiV’s latest Dovato campaign called “Detect This.” The next-step evolution in the branded campaign plays on the word “detect” — often used in describing HIV status under control as undetectable — but in this case, uses the word as a directive for people to understand they can use fewer medicines.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 142,800+ biopharma pros reading Endpoints daily — and it's free.

Tran­si­tion to new Eu­ro­pean clin­i­cal tri­als in­fo sys­tem starts slow­ly

At the end of January, the European Medicines Agency officially launched its new clinical trials info system (CTIS), although the migration to the new platform has only really just begun, and sponsors have until the end of January 2023 before all initial trial applications must be submitted through CTIS.

Overall, 56 clinical trial applications have been submitted in CTIS during the first 3 months since the launch of the system on Jan. 31, according to new data posted by the EMA. By comparison, about 4,000 new trials are authorized each year across Europe.

Nassim Usman, Catalyst Biosciences CEO

Af­ter $60M Ver­tex deal, group of Cat­a­lyst share­hold­ers claims biotech could’ve sold as­sets three years ago

Catalyst Biosciences was down to five employees in March, and the biotech needed to do something after two rounds of layoffs, a nixed collaboration and a culling of its hemophilia program.

In came Vertex, with $60 million to buy up the South San Francisco biotech’s preclinical complement drugs, which target the system that bridges the body’s innate and adaptive immune response and a class most known for Ultomiris and Soliris. The deal includes CB 2782-PEG, the dry AMD drug that Biogen no longer wanted in March.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 142,800+ biopharma pros reading Endpoints daily — and it's free.

Lina Khan, FTC chair (Graeme Jennings/Pool via AP Images)

Pile-on over PBMs con­tin­ues with FTC com­ments and a new bi­par­ti­san Sen­ate bill

More than 500 stakeholders sent comments to the FTC on whether the commission should look further into pharma middlemen, known as PBMs, with many of the commenters calling for more federal oversight.

Similar to the critical open comment period in a deadlocked FTC session last February, pharmacies and pharmacy groups are continuing to call out the lack of transparency among the top 3 PBMs, which control about 80% of the market.

Pharma brands are losing their shine with US consumers who are now thinking about the economy and inflation instead of Covid. (Credit: Shutterstock)

Phar­ma brands fade in an­nu­al Har­ris con­sumer vis­i­bil­i­ty poll: Mod­er­na drops off and Pfiz­er dips

As Covid-19 concerns are fading in the US, so is biopharma visibility. The annual Axios Harris Poll survey to determine and rank the 100 most top-of-mind brands in the US finds Moderna, which was No. 3 last year, not on the list at all for 2022, and Pfizer sinking 37 spots.

However, it’s not that Moderna or Pfizer did anything wrong, it’s just that Americans have moved on to other worries beyond Covid.

Endpoints News

Keep reading Endpoints with a free subscription

Unlock this story instantly and join 142,800+ biopharma pros reading Endpoints daily — and it's free.

HHS Secretary Xavier Becerra (Jacquelyn Martin/AP Images)

HHS fin­ish­es off Trump-era rule that would've erased ba­sic FDA regs with­out fre­quent re­views

HHS on Thursday finalized its decision to withdraw a rule, proposed just before former President Donald Trump left office, that would’ve caused thousands of HHS and FDA regulations to automatically expire if they weren’t reviewed within two years, and every 10 years thereafter.

The decision follows the filing of a lawsuit last March, in which several nonprofits alleged that the outgoing administration planted “a ticking timebomb” for HHS, essentially forcing it to devote an enormous amount of resources to the unprecedented and infeasible task of reviewing thousands of regulations regularly.