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Procaps Group Acquires 1st US-Based Softgel Production Facility and Pharmaceutical R and D Center.

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MANews-(C)2009-2022

Colombia-based healthcare and pharmaceutical company Procaps Group (NASDAQ: PROC) has closed an asset purchase agreement to acquire an 86,000 sq. ft. pharmaceutical production facility located in West Palm Beach, Florida for its iCDMO (integrated Contract and Manufacturing Organization) business unit, the company said.

This facility has a production capacity of approximately 1.8bn capsules per year, and is expected to increase Procaps Group's product development capabilities by more than 70%.

The soft gelatin capsule is a solid dosage form composed of two gelatin films that contain semisolid or liquid active pharmaceutical ingredients protected by an external, hermetically sealed cover.

Softgels are designed to deliver high precision dosage by achieving homogeneity of ingredients.

The Softgel capsules are well recognized in the supplement, OTC, and the prescription market for improving patient adherence to the drug and therapy by facilitating swallowing due to the texture of its shell.

The pharmaceutical production facility was purchased from Strides Pharma, Inc., a US subsidiary of the Indian-based pharmaceutical corporation, the Strides Group.

The facility is USFDA (United States Food and Drug Administration) approved and, in addition to the manufacturing capabilities, it offers development and analytical...

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