Sawai acquires Upsher-Smith's generic business for $1.1bn

Japan-based Sawai Pharmaceutical has agreed to buy the generic drugs business of Upsher-Smith Laboratories for nearly $1.1 billion.

According to a statement released yesterday, April 20, Sawai will acquire the business from its parent Acova and the transaction is expected to close by the end of June.

Rusty Field, president of Upsher‐Smith, will continue leading the company.

Mark Evenstad, CEO of Upsher-Smith, added: “It was extremely important for us to find a buyer that shared Upsher‐Smith’s values, was completely committed to its long‐term success and was looking for a strong and fully operational US platform for growth.

“Sawai is a compelling strategic fit and we are delighted that the generics business is poised to benefit from the extensive resources and management focus that Sawai will bring.”

Upsher‐Smith’s non‐generic pharmaceuticals businesses will remain with Acova.

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