Bora Pharmaceuticals To Acquire Upsher-Smith For $210mn

Bora Pharmaceuticals, a contract development and manufacturing organization (CDMO), has officially acquired Upsher-Smith Laboratories, a specialty-brand and generics company, for $210 million.

Upsher-Smith, founded in 1919 and owned by Sawai since 2017, has a diversified portfolio of 48 generic products with manufacturing facilities in Plymouth and Maple Grove, Minnesota. Upsher-Smith is highly respected in the industry and is recognized as a reliable partner with solid manufacturing capabilities, a robust distribution network, and established commercial relationships. Upsher-Smith’s product portfolio also presents significant opportunities for Bora’s commercial Rx business, TWi, in the US. Upsher-Smith’s decades-long presence in the US generics market offers deep industry expertise and know-how, as well as a well-recognized and respected name.

Founded in 2007, Bora Pharmaceutical, now is the largest pharmaceutical manufacturer in Taiwan with well-connected global distribution to supply more than 100 countries around the world. Headquartered in Taiwan, Bora has dedicated itself to become a global leader in pharmaceutical manufacturing by offering its clients with best quality, efficiency and reliability.

Bobby Sheng, Chairman and CEO of Bora Group, said, “This is a significant milestone for Bora Group, marking the most critical expansion of Bora’s presence in the US market and significantly enhancing Bora’s position as a global competitor with regard to its CDMO business and commercial Rx business.”

“Upsher-Smith’s competitiveness is a perfect match to Bora’s long-term growth – its newly-expanded, USFDA-approved manufacturing facilities, with a total capacity of 3.5 billion doses, will be Bora’s first local facility in the US, establishing a crucial stronghold for our global CDMO business.”

The closing of the transaction is subject to customary regulatory approvals. Upon closing, Bora, via its wholly-owned subsidiary in the US, will acquire 100% equity interest of Upsher-Smith.

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