Bora Pharmaceuticals Co., Ltd. has officially sanctioned the acquisition of Upsher-Smith Laboratories, Inc., a generics manufacturer situated in Minnesota, USA. The approval comes from the Board of Directors and involves the purchase from shareholders Sawai Group Holdings Co., Ltd. (JP) and Sumitomo Corporation of Americas, with the total transaction amounting to up to US$210 million.
Upsher-Smith, in operation since its founding in 1919 and under Sawai's ownership since 2017, boasts a diverse portfolio comprising 48 generic products. Its manufacturing facilities in Plymouth and Maple Grove, Minnesota, contribute to its esteemed reputation in the industry, characterized by reliable manufacturing capabilities, a robust distribution network, and well-established commercial relationships.
The consolidation of the two Minnesota-based manufacturing facilities enables the commercialization of various dosage forms, including oral solid, powders (both oral and topical), liquid, and packaging. Bora, through this strategic acquisition, not only secures additional capacity for its CDMO business but also fortifies its ability to serve customers across the entire US market value chain.
Upsher-Smith's extensive product portfolio presents lucrative prospects for Bora's commercial Rx business, TWi, in the US. Leveraging Upsher-Smith's decades-long presence and expertise in the US generics market, Bora gains immediate revenue streams from a diversified portfolio of generic and branded generic products. Moreover, Upsher-Smith enhances TWi's product development and marketing capabilities, facilitating the expansion of its suite of products and the growth of its US commercial business.
The completion of this transaction is contingent upon customary regulatory approvals. Following the closure, Bora, through its wholly-owned US subsidiary, will secure a 100% equity interest in Upsher-Smith.
Transaction Highlights:
This acquisition marks Bora's debut entry into the US market, signaling a significant expansion of its presence and creating substantial opportunities for its global CDMO business and commercial sales operations.
The acquisition grants Bora its initial local sites dedicated to serving its US-based and international CDMO customers.