Sawai Pharmaceutical Co., Ltd.

Pictured: A line of vials to hold injectable medicines/iStock, FX Rangga Yudhistira Taiwanese manufacturer Bora Pharmaceuticals is making another move into North America, with a $210 million acquisition of Minnesota-based generics producer Upsher-Smith Laboratories. The deal will give Bora access to two manufacturing facilities, products, packaging capabilities, as well as a first-time presence in the U.S. market. According to Bora, the acquisition was secured from Upsher-Smith’s shareholders, which included Sumitomo Corporation of Americas and Sawai Group Holdings. Upsher-Smith has been in operation since 1919 and has been owned by Sawai since 2017. The company manufactures around 48 generic medicines in oral solid, liquid, and powder forms and produces products such as morphine, potassium chloride, and testosterone, among many others. The company also maintains Plymouth and Maple Grove, Minnesota manufacturing facilities, as well as an office in Morristown, New Jersey. “This is a significant milestone for Bora Group, marking the most critical expansion of Bora’s presence in the U.S. market and significantly enhancing Bora’s position as a global competitor with regard to its CDMO business and commercial Rx business,” said Bora Group CEO Bobby Sheng in a statement. “Upsher-Smith’s competitiveness is a perfect match to Bora’s long-term growth—its newly-expanded, U.S. FDA-approved manufacturing facilities, with a total capacity of 3.5 billion doses, will be Bora’s first local facility in the U.S., establishing a crucial stronghold for our global CDMO business,” Sheng added. Bora has been seeking to make more inroads into the North American market. In 2020, the company capped off the acquisition of GSK’s manufacturing facility in Mississauga, Ontario, giving it its first presence in North America. Bora also has a supply agreement with the UK-based pharmaceutical company. The site also serves as its North American headquarters. The Mississauga site allows the company to manufacture around 50 products. In 2021, Bora inked a partnership with Taishin Healthcare Limited Partnership, in which both companies pledged to commit up to $108 million to expand the investment into CDMOs and pursue a broader merger and acquisition strategy. The contract development and manufacturing organization (CDMO) industry has been seeing more M&A activity lately. In November 2023, Ohio-based Forge Biologics was acquired by the Japanese conglomerate Ajinomoto for over $600 million. The CDMO industry saw some headwinds last year as a shift away from COVID-related production and fewer dollars going towards R&D took its toll on some of the more prominent manufacturers. However, analysts told BioSpace that some signs of recovery could be on the horizon in 2024. Tyler Patchen is a staff writer at BioSpace. You can reach him at tyler.patchen@biospace.com. Follow him on LinkedIn.

On Bora Pharmaceuticals' $210 million acquisition of Upsher-Smith, Bora CEO Booby Sheng said that the "competitiveness" of the Minnesota generics manufacturer "is a perfect match to Bora’s long-term growth." Taiwan-based CDMO Bora Pharmaceuticals is expanding its business in the United States, acquiring Minnesota generics manufacturer Upsher-Smith Laboratories for $210 million. Upsher-Smith, which was established in 1919, brings two manufacturing facilities that are five miles apart in the suburbs of Minneapolis. These become Bora’s first facilities in the U.S. Bora also has a 170,000 square meter plant in Mississauga, Ontario, which acts as its North America headquarters. Upsher-Smith produces a portfolio of 48 generic products. Its plants can handle packaging and a range of formulations including oral solids, liquids and topical powders. The sites have a total annual capacity of 3.5 billion doses. “This is a significant milestone for Bora Group, marking the most critical expansion of Bora’s presence in the U.S. market and significantly enhancing Bora’s position as a global competitor,” Bora CEO Bobby Sheng said in a release. The acquisition also supports Bora's commercial prescription business, TWi, which it bought out in September of 2022, according to Bora's release. This is the second sale of Upsher-Smith in seven years. In 2017, Sawai Pharmaceuticals of Japan gained the company to bolster its presence in the U.S. Sawai now is selling off the subsidiary after the “business environment became increasingly complex” and recording “significant impairments of goodwill and other assets” in March of 2022. Last year, Upsher-Smith closed its plant in Colorado and completed a $100 million expansion of its facility in Maple Grove, Minnesota. Bora, which is the largest manufacturer of pharmaceuticals in Taiwan, has two plants in the country. “The synergies realized through the integration of all the resources deployed by Bora will significantly accelerate its growth, propelling Bora to become a leading competitor in the pharma industry,” the company said in its release.

[09-January-2024] TAMPA, Fla., Jan. 9, 2024 /PRNewswire/ -- Neurolief, a global leader in medical devices delivering groundbreaking neurotechnology innovations for the treatment of Neurological and Neuropsychiatric disorders, announces the approval of its neuromodulation device, Relivion®, by the Japanese Ministry of Health, Labor and Welfare (MHLW). This approval marks a historic moment for Neurolief and its partner Sawai Pharmaceutical Co., Ltd, as Relivion® becomes the first neuromodulation device approved in Japan for at-home use in the acute treatment of migraine. Relivion® is a novel, non-invasive multi-channel brain neuromodulation technology. It stands out by concurrently stimulating the occipital and trigeminal nerve branches in the head, effectively modulating brain networks associated with debilitating migraine headaches. The system is complemented by a state-of-the-art patient mobile app and a physician interface featuring cloud-enabled data-tracking capabilities, allowing seamless AI integration and enabling remote patient monitoring. Marketing efforts for Relivion® will be led by Sawai Pharmaceutical Co., Ltd, which have entered into an exclusive partnership agreement with Neurolief for development and commercialization of Relivion® for migraine and depression indications in Japan. Scott Drees, CEO of Neurolief, expressed great enthusiasm for the MHLW approval, emphasizing the profound impact this decision will have on the millions of migraine patients in Japan. He underscored this achievement as a pivotal step in realizing Neurolief's mission of bringing its pioneering neurotechnology to individuals globally. Motohiko Kimura, President at Sawai pharmaceutical, emphasized the company's unwavering dedication to prioritizing patients through Sawai's corporate philosophy of 'Always Putting Patients First'. This commitment reflects Sawai's strong resolve to contribute to healthier lives. With the upcoming introduction of the Relivion® neuromodulation system in Japan, Sawai aims to elevate the landscape of acute migraine treatment options which is currently limited primarily to drug therapy. About Neurolief Neurolief is a leading brain neurotechnology company dedicated to enhancing the lives of patients suffering from Neurological and Neuropsychiatric disorders. Comprising experienced professionals with a proven track record in neuroscience, neuromodulation technology and the neurotech devices industry, the company has developed Relivion®MG for the treatment of migraine and Relivion®DP for Major Depressive Disorder (MDD). These are the world's first and only non-invasive multi-channel brain neuromodulation technologies designed to concurrently stimulate the occipital and trigeminal nerve branches in the head, thereby modulating brain networks associated with migraine and depression. Relivion®MG is currently FDA, CE and MHLW approved for the acute treatment of migraine and aims to provide a highly effective alternative to pharmaceutical therapies. The system also includes a patient mobile app and a physicians' interface with cloud-enabled data-tracking features, enabling AI incorporation and remote patient monitoring. The company is actively pursuing FDA and CE mark approvals for the treatment of Major Depressive Disorder (MDD). For additional information on Neurolief and Relivion®, please visit our website at