Debevoise & Plimpton LLP is advising Sawai Pharmaceutical, the parent company of Upsher-Smith Laboratories, in a new strategic alliance with Japanese trading house Sumitomo. Under the terms of the agreement, Sawai will sell a 20% stake in its American subsidiary to Sumitomo’s U.S. arm for $211 million.
The transaction is expected to close near the end of March 2018.
Sawai focuses on the manufacturing and sales, export and import of generic pharmaceutical products and is the number one provider of generics to the Japanese market. Based in Minnesota, Upsher-Smith Laboratories, Inc., led by Mark B. Evenstad, Rusty Field, Tom Burke, Michael L. Snow and Scott Hussey, was founded in 1919 and is a fully integrated pharmaceutical company.
The Debevoise team is led by partner Andrew L. Bab (Picture) and includes partner Gary M. Friedman, associates Joseph Binder, David P. Iozzi, David R. Rock, Michael Ronca and international associate Kietaro Hamada.
Involved fees earner: Andrew Bab – Debevoise & Plimpton; David Iozzi – Debevoise & Plimpton; Michael Ronca – Debevoise & Plimpton; Keitaro Hamada – Debevoise & Plimpton; Gary Friedman – Debevoise & Plimpton; Joe Binder – Debevoise & Plimpton; David Rock – Debevoise & Plimpton;
Law Firms: Debevoise & Plimpton;
Clients: Sawai Pharmaceutical;