DifGen Pharmaceuticals Acquires the Operating and Manufacturing Assets of an FDA-Registered Finished Dosage Manufacturing Facility in Florida, Enhancing its Manufacturing Footprint in the United States With the Addition of Manufacturing Capabilities in Sterile/ Non-Sterile Inhalation, Ophthalmic, [Otic] and Unit Dose Formulations
18 Mar 2024
Acquisition
MIRAMAR, Fla., March 18, 2024 /PRNewswire/ -- DifGen Pharmaceuticals LLC ("DifGen") announced today that it has signed and closed an all-cash transaction through its subsidiary Aveva Drug Delivery Systems Inc. to purchase the operating and manufacturing assets of an FDA-registered manufacturing facility located in Tamarac, Florida. The facility has state-of the art manufacturing capability to handle solutions/ suspension/ emulsions through blow-fill-seal, form fill seal technology and traditional filling of liquid and semi-solid products in a variety of dosage forms including stick packs and unit-dose cups.
In a joint statement, Ramandeep Singh Jaj & Dr. Santhanakrishnan Srinivasan, Founders and Co-CEOs of DifGen commented, "Inhalation and respiratory dosage forms have always been an area of focus for DifGen and the addition of this facility with it's more than 165,000 sq.ft manufacturing infrastructure and a combined capacity in excess of one billion units in BFS, LVP bags and oral solutions/ suspensions serves to accelerate our portfolio diversification and also augment our development capabilities of sterile parenteral and ophthalmic dosage forms. Our acquisition of Aveva Drug Delivery Systems in April of 2023 coupled with this transaction and our strategic capex investments in LVP bags and sterile LAI infrastructure has positioned us to be one of the largest pharmaceutical drug product manufacturer in the state of Florida with a footprint of over 400,000 sq.ft spread across the Fort Lauderdale region and a combined annual capacity of close to two Billion finished dosage units. Our goal has always been to be a consistent and high-quality supplier of affordable and life-saving medication to the consumers with an emphasis on US manufacturing and a fully integrated supply chain supported by an exceptional in-house R&D capability. This transaction is expected to be accretive to our revenue and growth in 2024."
In related news, DifGen also announced that it is in the process of relocating its corporate headquarters to a state-of the art 40,000 sq.ft facility in Miramar, Florida beginning April 1, 2024.
Holland & Knight LLP represented DifGen Pharmaceuticals in this transaction.
About DifGen:
DifGen is a US based Global Pharmaceutical company with a primary focus on developing and manufacturing complex high barrier to entry Generics and Specialty Pharmaceutical products that would help increase accessibility to high quality medication thereby leading to the creation of next generation healthy communities. DifGen consistently aspires to challenge standard thought processes to arrive at dependable solutions that create a paradigm shift in product development, quality, clinical affairs, regulatory sciences, and commercial strategy. The firm has a talented team with some of the brightest minds who have developed a holistic understanding of the nuances associated with the development of unique, commercially viable and difficult product lines across varying therapeutic areas and a broad array of dosage forms such as Injectables, Ophthalmic, Topicals, Biologicals, Drug Devices, Soft Gels, Solid Orals & Suspensions, Transdermal Patches & Thin Films.
Please contact Mr. Krishna Chandrasekaran, Sr. Vice President, Global Finance, Information Systems, and Human Resources ([email protected] or 9546326189) for any questions related to this transaction.
SOURCE DifGen Pharmaceuticals
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