Bora Pharmaceuticals has agreed to acquire GSK's Mississauga, Ontario (Canada) facility. The GSK facility produces approximately 50 different products for over 100 markets worldwide and employs approximately 400 skilled manufacturing staff who will be invited to join Bora Pharmaceuticals as part of the transaction.
Bora will continue to manufacture, under contract, the existing GSK product line for a minimum of five years.
"We are excited to announce today the next phase of our expansion into North America with the acquisition of this world-class facility and we look forward to welcoming the Mississauga manufacturing employees, whom we view as the most significant asset in this transaction, into our business," said Bobby Sheng, CEO of Bora Pharmaceuticals. "The Mississauga-based facility is ideally suited with our intention to grow our technical capabilities and scale in the global CDMO marketplace."
Andrew Ehrat, Mississauga Site Director for GSK in Canada explained that the transaction is expected to complete no later than the end of 2020. "In the meantime, we remain wholly committed to maintaining a business which runs safely and efficiently in the best interest of patients," he said.
Subject to the appropriate regulatory clearances, the transaction will see the ownership of the entire GSK Mississauga site – including all facilities – transfer over to Bora Pharmaceuticals.
