Sawai Pharmaceuticals completes Upsher-Smith generics acquisition
TOKYO and MINNEAPOLIS — Sawai Pharmaceuticals and Upsher-Smith Laboratories announced Thursday the completion of Sawai’s acquisition of Upsher-Smith’s generics business.
The acquisition gives Sawai a foothold in the U.S. generics market, and the company will retain Rusty Field as the president of the company, adding the role of CEO to his duties. Sawai said that it intends to retain operations in Minnesota and Colorado.
"This is a momentous day for both Sawai and Upsher-Smith," Sawai president Mitsuo Sawai said. “The acquisition of Upsher-Smith adds significantly to our capabilities and supports the acceleration of our vision of becoming a globally recognized generic drug company. Upsher-Smith's manufacturing and commercial strength, strong distribution network and established relationships combined with Sawai's research and development capabilities and state-of-the-art manufacturing technology provide the opportunity to further enhance our ability to bring high-quality, high-value generic pharmaceutical products to patients both in Japan and the United States."
Field said, “This acquisition brings together two closely aligned companies with similar values. Sawai is one of the largest generic pharmaceutical companies in Japan and Upsher-Smith has an established portfolio of generic products in the United States. This deal represents an energizing growth opportunity for the generics business both in the United States and abroad.”