Bora Pharmaceuticals Co., Ltd. announced yesterday (April 2) that it has successfully completed the acquisition of Upsher-Smith Laboratories, Inc., a pharmaceutical company located in Minnesota, USA, from the Japanese pharmaceutical group Sawai Group Holdings Co., Ltd. and the Japanese trading company Sumitomo Corporation. As of the previous day's closing date, Upsher-Smith has become a wholly-owned subsidiary of Bora.
Bora stated that following the acquisition, Bora Group Chairman Sheng Bao-Si will serve as Chairman of Upsher-Smith, while Rich Fisher, the Chief Operating Officer of Upsher-Smith, will continue to be responsible for its operational management.
Sheng Bao-si pointed out that this acquisition transaction marks a significant milestone for Bora Group's entry into the US market. He mentioned that the US is the world's largest pharmaceutical market, and acquiring Upsher-Smith allows Bora to have its own manufacturing facilities locally, enabling its global CDMO contract manufacturing business to efficiently obtain the required production capacity and service breadth and accelerate the expansion of the US market and global business.
Sheng Bao-si further mentioned that by integrating Upsher-Smith's strengths in the US market, it will strengthen Bora's growth momentum in US sales. Sheng Bao-si specifically highlighted Upsher-Smith's investment layout in specialty/branded generic drugs, which will bring a completely complementary product portfolio and highly differentiated sales channels to An Cheng Pharmaceuticals, a subsidiary responsible for Bora's US market business.
Upsher-Smith currently has 48 marketed generic drugs, with a diverse product portfolio and two manufacturing facilities in Plymouth and Maple Grove, Minnesota. In addition to its commercial track record, the available drug dosage forms include oral solids, powders (both oral and topical), and liquids, with packaging lines, its own warehousing, and logistics centers.
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