The acquisition expands Taiwan-based Bora’s North American footprint with its first US manufacturing site
Bora Pharmaceuticals (Bora) completed the acquisition of Upsher-Smith Laboratories (Upsher-Smith), a generics manufacturer and marketer based in Minnesota, US, from its sellers, Sawai Group Holdings and Sumitomo Corporation of Americas.
Upsher-Smith, founded in 1919, has a diversified portfolio of 48 generic products with manufacturing facilities in Plymouth and Maple Grove, Minnesota. The two facilities can commercialise and produce a range of dosage forms including oral solids, powders (oral and topical), and liquids. Founded in 2007, Bora is reportedly the largest pharma manufacturer in Taiwan supplying more than 100 countries around the world.
Bobby Sheng, Chairman and CEO of Bora Group, will immediately assume the role of Chairman for Upsher-Smith, and Rich Fisher, COO & President of Upsher-Smith, will continue to lead operations for the business, reporting directly to Sheng.
Sheng commented that the acquisition of Upsher-Smith supports the group’s CDMO strategy to grow its footprint in the US, by pairing Upsher-Smith’s specialty generics platform with TWi’s current product portfolio and distribution channels.