Procaps Group Acquires Softgel Production Facility.
M2 EQUITYBITES-January 13, 2022-Procaps Group Acquires Softgel Production Facility
(C)2022 M2 COMMUNICATIONS http://www.m2.com
Procaps Group (NASDAQ: PROC), an integrated international healthcare and pharmaceutical company, has closed an asset purchase agreement to acquire an 86,000 sq. ft. pharmaceutical production facility located in West Palm Beach, Florida, the company said.
The units has production capacity of approximately 1.8 billion capsules per year for its iCDMO (integrated Contract and Manufacturing Organization) business unit, 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 (APIs) protected by an external, hermetically sealed cover. Softgels are designed to deliver high precision dosage by achieving homogeneity of ingredients.
The pharmaceutical production facility was purchased from...
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