Bora Pharmaceuticals and GlaxoSmithKline have entered into an agreement under which Bora Pharmaceuticals will acquire GSK’s Mississauga, Ontario facility. The GSK facility produces approximately 50 different products for more than 100 markets and employs approximately 400 skilled manufacturing staff who will be invited to join Bora Pharmaceuticals as part of the transaction. Bora Pharmaceuticals will continue to manufacture, under contract, the existing GSK product line for a minimum of five years.
According to Bora, the facility is suited with its intention to grow its technical capabilities and scale in the global contract development and manufacturing organization (CDMO) marketplace. The two companies expect to complete the transaction no later than the end of 2020.
Subject to the appropriate regulatory clearances, the transaction will see the ownership of the entire GSK Mississauga site – including all facilities – transfer over to Bora Pharmaceuticals. GSK employees in the Pharmaceuticals and Consumer Healthcare commercial businesses, who currently work in office space at the Mississauga site will move to new locations within an agreed timeframe following the close of the transaction.
Read the full Bora Pharmaceuticals statement