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Bora Pharmaceuticals Co., Ltd announced that it has completed the acquisition of Upsher-Smith Laboratories, Inc. (“Upsher-Smith”), a generics manufacturer and marketer based in Minnesota, U.S., from its sellers, Sawai Group Holdings and Sumitomo Corporation of Americas.
Upsher-Smith now is a wholly-owned subsidiary of Bora Group. Bobby Sheng, Chairman and CEO of Bora Group, will immediately assume the role of Chairman for Upsher-Smith, and Rich Fisher, COO & President of Upsher-Smith, will continue to lead operations for the business, reporting directly to Mr. Sheng.
Commenting on the acquisition, Mr. Sheng said: “The acquisition of Upsher-Smith marks a significant milestone in Bora’s growth strategy as we forge ahead with our expansion plans in the US market. The acquisition also supports our CDMO strategy to grow our footprint in the U.S. and will help us meet increased demand for our services from customers looking to partner with a trusted CDMO.”
Mr. Sheng continued, “The acquisition of Upsher-Smith also complements our existing TWi division, allowing us to expand our reach in the US market by pairing Upsher-Smith’s specialty generics platform with TWi’s current product portfolio and distribution channels. We are confident and committed to delivering another successful integration to accelerate Bora’s expansion and growth in the market.”
Upsher-Smith’s Rich Fisher said: “Upsher-Smith’s level of expertise in the U.S. generics market, combined with Bora’s global network, will allow us to manufacture life-saving drugs for patients across the world. The closing of the acquisition is the start of a new chapter for Upsher-Smith and we look forward to what the future holds.”
Upsher-Smith, founded in 1919, is highly respected in the industry and is recognized as a reliable partner with superior manufacturing capabilities, a robust distribution network, and established commercial relationships. It has a diversified portfolio of 48 generic products with manufacturing facilities in Plymouth and Maple Grove, Minnesota. The two facilities can commercialize and produce a range of dosage forms including oral solids, powders (oral and topical), and liquids.
Through this acquisition, Bora not only gains additional capacity to support its CDMO business but also adds to its capability to serve customers throughout the pharmaceutical value chain, covering the entire U.S. market.
