Strides Pharma, a pharmaceutical company headquartered in India with U.S. operations in New Jersey and Florida, is opening a facility in the village of Chestnut Ridge in Rockland County.
Gov. Kathy Hochul this morning announced that the company would be opening a 200,000-square-foot facility that aims to employ more than 250 people. The firm would engage in manufacturing and marketing at the new site.
Hochul said that Strides would be taking over a former Endo Pharmaceutical plant on Ram Ridge Road in Chestnut Ridge.
Endo notified the New York State Department of Labor in March that it would be laying off some of its workers and possibly closing two of the three buildings it was occupying in July. Endo said that a sale of the business ”” which had 334 employees at the time ”” was possible.
Hochul said that Strides Pharma Inc. will acquire and build out the former Endo Pharmaceutical plant, retain more than 215 of its employees, add an additional 40 jobs and invest more than $42 million over the next few years to manufacture both brand-name and generic drugs.
“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,” Hochul said. “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.”
“Strategic business development is a top priority for Strides as we look to drive sustainable growth and further bolster and balance our product portfolio,” Strides Pharma Inc. CEO Terrance Coughlin said. “Strides Pharma Inc. will retain Endo International plc employees and generate further employment opportunities in the Mid-Hudson region.”
According to Hochul”™s announcement, the facility at Chestnut Ridge has an annual capacity of 2 billion units of various products. It is also registered with the Drug Enforcement Administration (DEA) to manufacture controlled substances.
New York”™s Empire State Development will provide up to $10 million in tax credits to the company in exchange for keeping the existing 215 employees and creating another 40 jobs.
