Bora Pharmaceuticals to buy GSK's Mississauga-based manufacturing facility

CDMO Bora Pharmaceuticals said Monday it has agreed to acquire GlaxoSmithKline's Mississauga, Ontario (Canada) facility, which produces approximately 50 different products for more than 100 markets worldwide.

It said the acquisition broadens its range of dosage forms, technical capabilities, and geographical locations, as well as enabling the multinational contract service provider to locally support its core markets of North America and Asia.

As part of the transaction, the facility's 400 manufacturing staff will be invited to join Bora Pharmaceuticals, which will continue to manufacture, under contract, the existing GSK product line for at least 5 years. GSK Pharmaceuticals and Consumer Healthcare employees, who currently work in office space at Mississauga will move to new locations within an agreed timeframe following the close of the transaction.

"We are excited to announce today the next phase of our expansion into North America with the acquisition of this world-class facility," 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."

According to Andrew Ehrat, Mississauga Site Director for GSK in Canada, the companies expect to complete the transaction by the end of 2020.