6/13/2019
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`Sawai Pharmaceutical to acquire Upsher-Smith Laboratories U.S. generics business - CenterWatch News Online
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`Sawai Pharmaceutical to acquire Upsher-Smith
`Laboratories U.S. generics business
`
`THURSDAY, APRIL 20, 2017
`
`Sawai Pharmaceutical (/news-online/tag/sawai-pharmaceutical), a Japanese generic pharmaceuticals
`manufacturer, and Upsher-Smith Laboratories (/news-online/tag/upsher-smith-laboratories), a generics
`manufacturer based in Minnesota, U.S., have announcedthe signing of an agreement for Sawai to purchase
`the generic pharmaceuticals business of Upsher-Smith, from its parent, ACOVA.
`
`Upsher-Smithis a privately-held U.S. pharmaceutical company, owned bythe Evenstad family through their
`company, ACOVA. Mark Evenstad is the CEO of Upsher-Smith, and his father, Ken Evenstad is the chairman.
`Upsher-Smith has a diversified product portfolio of over 30 pharmaceutical products, mainly oral solid
`preparations, and a strong pipeline of over 30 products.
`
`Sawai will purchaseall the equity interest in the generic pharmaceuticals business of Upsher-Smith from
`ACOVA,for consideration of $1.05 billion. The transaction will be financed by bank loans and available cash. It is
`expected to close near the end of June 2017, subject to customary regulatory approvals. Rusty Field, the current
`president of Upsher-Smith, will continue leading the company. Following the closing, Upsher-Smith’s non-
`generic pharmaceuticals businesseswill remain with ACOVA.
`
`The acquisition will mark a major expansion of Sawai’s presencein the U.S. market. Moving forward, Sawai
`plans to build a U.S. business that leveragesits intellectual property and combines R&D capabilities with
`Upsher-Smith’s manufacturing base, strong distribution network, established commercial relationships and
`highly respected brand. For Upsher-Smith, the acquisition brings access to Sawai’s state-of-the art
`manufacturing technology and opportunities to bring its medicines to exciting new markets,like Japan.
`
`Since its founding in 1919, Upsher-Smith has been committed to delivering high-value, high-quality
`pharmaceuticals that measurably improveindividuals’ lives. Upsher-Smith offers a broad array of generic and
`branded medications, and through its pharmacist heritage, has built excellent, long-standing relationships with
`pharmacies, wholesalers, retailers and healthcare organizations to distribute its products.
`
`“Upsher-Smith has developed and delivered crucial therapies to patients, from infants to the elderly, with a
`broad array of on-market generic pharmaceuticals. We havealso built a pipeline that will enable even more
`patients to getlife-changing therapies over the next several years. After owning and operating Upsher-Smith
`for the past 47 years, myfamily and | made the decision to sell the largest part ofour company, fe STESnipit 2008
`pharmaceuticals business, to Sawai," said Mark Evenstad, CEO.“It was extremely importantfor us to 94.4; ,, Biogen
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`TPR2019-00789
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`https://www.centerwatch.com/news-online/2017/04/20/sawai-pharmaceutical-acquire-upsher-smith-laboratories-u-s-generics-business/
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`6/13/2019
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`Sawai Pharmaceutical to acquire Upsher-Smith Laboratories U.S. generics business - CenterWatch NewsOnline
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`https://www.centerwatch.com/news-online/2017/04/20/sawai-pharmaceutical-acquire-upsher-smith-laboratories-u-s-generics-business/
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