Bora Pharmaceuticals completes Upsher-Smith acquisition, expanding North American footprint

02 Apr 2024
www.outsourcing-pharma.com
Acquisition
With this acquisition, Upsher-Smith now operates as a wholly-owned subsidiary under the Bora Group umbrella. Bobby Sheng, chairman and CEO of Bora Group, assumes the position of chairman for Upsher-Smith, while Rich Fisher, COO and president of Upsher-Smith, remains in charge of day-to-day operations, reporting directly to Mr. Sheng.
Mr. Sheng emphasized the strategic significance of this acquisition, he said: “The acquisition of Upsher-Smith marks a significant milestone in Bora’s growth strategy as we forge ahead with our expansion plans in the US market."
He added: “The acquisition also supports our CDMO strategy to grow our footprint in the U.S. and will help us meet increased demand for our services from customers looking to partner with a trusted CDMO.”
Specialty generics platform
Highlighting the potential synergies between the two entities, Mr. Sheng continued: “The acquisition of Upsher-Smith also complements our existing TWi division, allowing us to expand our reach in the US market by pairing Upsher-Smith’s specialty generics platform with TWi’s current product portfolio and distribution channels. We are confident and committed to delivering another successful integration to accelerate Bora’s expansion and growth in the market.”
Founded in 1919, Upsher-Smith says it is renowned in the industry and is respected as a reliable partner with superior manufacturing capabilities, a robust distribution network, and established commercial relationships.
It boasts a diverse portfolio of 48 generic products and operates manufacturing facilities in Plymouth and Maple Grove, Minnesota, capable of producing various dosage forms.
googletag.cmd.push(function () {
googletag.display('text-ad1');
});
Rich Fisher from Upsher-Smith said: “Upsher-Smith’s level of expertise in the U.S. generics market, combined with Bora’s global network, will allow us to manufacture life-saving drugs for patients across the world." He added, "The closing of the acquisition is the start of a new chapter for Upsher-Smith, and we look forward to what the future holds.”
Expanding capacity to support CDMOs
Through this acquisition, Bora not only expands its capacity to support its CDMO business but also enhances its ability to serve customers across the pharmaceutical value chain, covering the entire U.S. market.
Founded in 2007, Bora Pharmaceutical Co., Ltd., says it is the largest pharmaceutical manufacturer in Taiwan, supplying over 100 countries worldwide. The company says it aims to become a global leader in pharmaceutical manufacturing by offering clients quality, efficiency, and reliability.
Upsher-Smith Laboratories, LLC says it is a trusted US pharmaceutical company committed to improving patient health and lives through high-quality products and sustainable growth. With a focus on generics and brands, Upsher-Smith believes it delivers exceptional service, strong industry relationships, and uninterrupted supply.
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Organizations
Indications
-
Targets
-
Drugs
-
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Leverages most recent intelligence information, enabling fullest potential.