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CDMO will make new Canadian location its North American HQ
Bora Pharmaceuticals Co., Ltd has officially acquired GlaxoSmithKline's Mississauga, Ontario (Canada) facility in a minimum five-year supply agreement. The deal is part of a long-term growth strategy that has seen Bora, a contract development and manufacturing organization (CDMO), complete three M&As in the past five years.
Originally announced in March, the Canadian location is the company’s first manufacturing facility in North America, which will now be home to its North American headquarters. This also marks the Bora’s second site on the continent, after opening a US office in Delaware in 2019.
With this deal, Bora is able to diversify its range of dosage forms—the new flagship location provides the company with greater production capabilities, which, executives say, will not only help strengthen Canada’s medicines supply chain, but will allow Bora to make 50 different products to 100 international markets. It also plans to bring additional employees aboard its technical and operational team.