Bora Pharmaceuticals, a Taipei City, Taiwan-based pharmaceutical company and CDMO of drug products, has completed its acquisition of Upsher-Smith Laboratories, a pharmaceutical company focused on specialty brands and generics, for $210 million. Bora acquired the company from Upsher-Smith’s shareholders, Sawai Group Holdings and Sumitomo Corporation of Americas.   

Upsher-Smith has a portfolio of 48 generic products. The company has manufacturing facilities in Plymouth and Maple Grove, Minnesota. Combined, the two manufacturing facilities in Minnesota produce a range of dosage forms, including oral solid, powders (both oral and topical), and liquids. The facilities also provide packaging.   

With the acquisition, Bora gains additional manufacturing facilities to support its CDMO business, with the acquiring facilities representing its first facilities in the US. The acquisition also adds to the company’s commercial prescription drug business, TWi.   

With the closing of the acquisition, Upsher-Smith now is a wholly owned subsidiary of Bora Group. Bobby Sheng, Chairman and CEO of Bora Group, will immediately (as of April 1, 2024), will assume the role of Chairman for Upsher-Smith, and Rich Fisher, Chief Operating Officer) & President of Upsher-Smith, will continue to lead operations for the business, reporting directly to Mr. Sheng. 

Source: Bora Pharmaceuticals