Sawai Pharmaceutical Co. Ltd. has signed an agreement to acquire the generic pharmaceuticals business of Upsher?Smith Laboratories, Inc., from its parent, ACOVA Inc.
Upsher-Smith is a privately-held U.S. pharmaceutical company, owned by the 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.
Under the agreement signed, Sawai will acquire all 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 by the end of June 2017, subject to customary
Jones Day is acting as Antitrust counsel to Upsher-Smith Laboratories, Inc. on the deal with a team led by Michael Knight.
Involved fees earner: Michael Knight – Jones Day;
Law Firms: Jones Day;
Clients: Upsher?Smith Laboratories, Inc.;