Bora Pharmaceuticals will acquire Upsher-Smith Laboratories, marking the Taiwan-based CDMO's official expansion into the U.S.
Per the deal, Bora will buy Upsher-Smith, a generics manufacturer based in Minnesota, from shareholders Sawai Group Holdings and Sumitomo Corporation of Americas for a total consideration of up to $210 million.
With the acquisition, Bora will get Upsher-Smith's portfolio of 48 generic products as well as two manufacturing facilities in Plymouth and Maple Grove, Minnesota. Combined, the two manufacturing facilities in Minnesota are capable of commercializing a broad range of dosage forms including oral solid, powders (both oral and topical), and liquid, as well as packaging.
Bora, Taiwan’s largest pharmaceutical group by volume, already operates six state-of-the-art CGMP manufacturing facilities, including one in Canada. With its origins as a family-run company, Bora's growth strategy has relied heavily on acquisitions — Upsher-Smith is the seventh in the past nine years and represents a pivotal expansion of Bora’s presence in the U.S. market.
“Bora’s goal has always been to become a world-leading CDMO. To do so, we need to have strategically located development and manufacturing sites all over the world,” said Bora CEO Bobby Sheng in a previous interview with Pharma Manufacturing.