DifGen Pharmaceuticals LLC announced 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.