Acquisition of Emergent BioSolutions’ sterile manufacturing facility in Camden, Maryland will allow Bora to provide Sterile Fill/Finish Services.
Bora Pharmaceuticals Co., Ltd. (“Bora” or “the Company”, TWSE: 6472), today announced that it has successfully entered into an agreement for Emergent BioSolutions’ (“Emergent”, NYSE: EBS) sterile manufacturing facility in Baltimore-Camden, Maryland as part of a major commercial expansion for the Company.
Bora has an established footprint in the US following its acquisition of Upsher-Smith Laboratories, a generics manufacturer based in Minnesota, earlier this year. This second acquisition is the next milestone in the Company’s growth strategy, as it continues its plans to expand into sterile drug product manufacturing and grow its footprint in North America.
The newly acquired 87,000-sq. ft. facility provides drug product manufacturing services for sterile injectables and offers clinical and commercial non-viral aseptic fill/finish services on four fill lines, including lyophilization, vials filling and pre-filled syringe filling.
This acquisition will allow Bora to offer drug substance and drug product capabilities, and complements the services of Bora Biologics, the Company’s development and manufacturing offering for biologics developers.
Commenting on this latest acquisition, Bobby Sheng, Chairman and CEO of Bora Group said: “This transaction not only demonstrates our commitment to our growth strategy and plans for expansion in North America, but also enables us to expand our offering for our biologics customers. We look forward to working with the hugely talented team at the facility and supporting new and existing customers as we grow and develop the facility.”
The sterile injectable market continues to grow and the market size is expected to reach approximately $1.0 trillion by 2030 at a 6-year CAGR of 10.17%, according to research and markets. Bora has ambitious plans to enhance the newly acquired facility, and all staff currently based at the Camden site will be given the opportunity to remain in place and become part of the Bora team.
Gibson Dunn advised Bora on the transaction.
