Bora Pharmaceuticals acquires GSK Mississauga facility
The transaction is expected to be complete by the end of 2020.
MISSISSAUGA, Ont. — Bora Pharmaceuticals Co., Ltd. is acquiring pharma manufacturer GSK’s Mississauga, Ont.-based facility.
The GSK plant employs approximately 400 staff who will be invited to join Bora Pharmaceuticals, which will continue to manufacture, under contract, the GSK product line for a minimum of five years.
“The Mississauga-based facility is ideally suited with our intention to grow our technical capabilities and scale in the global contract development and manufacturing organization (CDMO) marketplace,” Bobby Sheng, CEO of Bora Pharmaceuticals, said in a prepared statement.
Andrew Ehrat, Mississauga site director for GSK in Canada said, “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.”
GSK employees in the Pharmaceuticals and Consumer Healthcare commercial businesses, who currently work in office space at the Mississauga site, will move to new locations within an agreed time frame following the close of the transaction.
GSSK makes prescription medicines, prescribed vaccines and consumer healthcare products.
No financial details were released.