Sawai Pharma to acquire Upsher-Smith's generic drug unit for $1B

Japanese drugmaker Sawai Pharmaceutical Co., will purchase Minneapolis-based Upsher Smith's generic drug business for $1 billion, reports Bloomberg.

The acquisition marks Sawai's first overseas acquisition in the company's 88-year history, according to the report.

"Upsher-Smith has a very good eye on selecting products and pricing them to a level [that] can bring sufficient profit to the company," Sawai President Mitsuo Sawai told Bloomberg. "We have manufacturing technology that enables us to bring down cost and want to combine it."

Upsher-Smith's non-generic business is not included in the deal, which is expected to close next month.

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