Contract development and manufacturing organisation (CDMO) Bora Pharmaceuticals is to acquire GSK’s Mississauga, Ontario Canada facility, as part of its expansion into North America.
Business
As part of the transaction, Bora will go on to produce GSK’s existing line of 50 products for five years and will invite the facility’s 400 manufacturing staff to join Bora Pharmaceuticals.
"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 contract development and manufacturing organisation (CDMO) marketplace." Andrew Ehrat, Mississauga site director for GSK in Canada said. "Our priority is to support our employees through the transition and consult with them along the way, in partnership with Bora. We expect to complete the transaction no later than the end of 2020, and in the meantime, we remain wholly committed to maintaining a business which runs safely and efficiently in the best interest of patients."