CDMO Bora Pharmaceuticals To Acquire Generics Company Upsher Smith for $210 M
Bora Pharmaceuticals, a Taipei City, Taiwan-based pharmaceutical company and CDMO of drug products, has agreed to acquire Upsher-Smith Laboratories, a pharmaceutical company focused on specialty brands and generics, for $210 million. Bora is acquiring the company from Upsher-Smith’s shareholders, Sawai Group Holdings and Sumitomo Corporation of Americas.
Upsher-Smith has a portfolio of 48 generic products. The company has manufacturing facilities in Plymouth and Maple Grove, Minnesota. Combined, the two manufacturing facilities in Minnesota produce a range of dosage forms, including oral solid, powders (both oral and topical), and liquids. The facilities also provide packaging.
With the pending acquisition, Bora gains additional manufacturing facilities to support its CDMO business, with the acquiring facilities representing its first facilities in the US. The acquisition also adds to the company’s commercial prescription drug business, TWi.
The closing of the transaction is subject to customary regulatory approvals. Upon closing, Bora, via its wholly owned subsidiary in the US, will acquire a 100% equity interest of Upsher-Smith.
Source: Bora Pharmaceuticals