Bora Pharmaceuticals

Name

Bora Pharmaceuticals

Legal name

Bora Pharmaceuticals Co., Ltd.

Website

https://bora-corp.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Pharmaceutical Contract Manufacturing (CDMO)

NAICS

Pharmaceutical and Medicine Manufacturing (3254), Pharmaceutical Preparation Manufacturing (325412), Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Pharmaceutical Preparations (2834), Services-Commercial Physical & Biological Research (8731), Medicinal Chemicals & Botanical Products (2833)

akta.pro primary industry

Drug Substance–Drug Product Integrated CDMO (HLAGABAG)

akta.pro secondary industries

Small-Molecule Drug Product (Solid/Oral/Parenteral) CDMO (HLAGABAB), Contract Development & Manufacturing for Generics (CDMO/CMO) (HLAIABAI), CMC & Pharmaceutical Development (Formulation/Process/Analytical Development) (HLAIALAD), Regulatory Strategy & Global Submissions (IND/CTA/NDA/BLA/MAA) (HLAGAKAA), Small-Molecule CMC Documentation & Regulatory Support (DMF/CMC) (HLAGAHAM)

Keywords

• Contract pharmaceutical manufacturing
• Biologics CDMO services
• Oral solid dose manufacturing
• Sterile injectable manufacturing
• Generic pharmaceutical products

Headquarters

HQ city

Taipei

HQ country

Taiwan

HQ region

Asia

Offices12 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. CDMO Services: Contract development and manufacturing services for pharmaceutical companies including process development, manufacturing, and quality assurance across small molecule and biologics. Revenue is project-based with multi-year contracts providing recurring revenue visibility. Key contracts include $250M GSK agreement through 2030.
2. Pharmaceutical Product Sales: Sales of generic and brand pharmaceutical products through subsidiaries including Upsher-Smith (US generics and specialty), Pyros Pharmaceuticals (rare disease), and Bora Health (Taiwan). Includes differentiated dosage forms, ophthalmic products, and CNS/neurology treatments.
3. Consumer Healthcare: Consumer health and OTC products through SunWay Biotech subsidiary, including nutraceutical ingredients and supplements sold globally.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Bora Pharmaceuticals is a global pharmaceutical CDMO and specialty drug developer offering end-to-end contract development and manufacturing services across small molecules (oral solid dose, sterile injectables, semi-solids, liquid-filled hard capsules) and large molecules (biologics drug substance and drug product). The company also develops, in-licenses, and commercializes branded and generic pharmaceutical products through its Upsher-Smith (US generics/specialty), Pyros Pharmaceuticals (rare disease), Bora Health (Taiwan), and SunWay Biotech (consumer healthcare) subsidiaries, serving global pharma, biotech, and patient markets from manufacturing sites in Taiwan, the United States, and Canada.

Product overview

Bora Pharmaceuticals operates as a dual-engine pharmaceutical company combining a global CDMO (Contract Development and Manufacturing Organization) platform with innovative drug development focused on specialty pharma and rare diseases. The company's CDMO division (Bora CDMO) provides end-to-end manufacturing across oral solids, sterile injectables, biologics, and specialty formulations. Key branded and product units include Upsher-Smith Laboratories (generic and specialty pharmaceuticals, including ophthalmic, otic, CNS, and rare disease drugs), SunWay Biotech (consumer healthcare and nutraceuticals), and Bora Biologics (biologics CDMO operated in partnership with Tanvex Biopharma). Recent major acquisitions include Upsher-Smith (April 2024), Emergent BioSolutions' sterile fill-finish facility (August 2024), Pyros Pharmaceuticals (October 2024 with rare disease brands VIGAFYDE and VIGPODER), and MacroGenics' GMP biologics operations (May 2026). The group serves global markets across more than 100 countries through manufacturing sites in Taiwan, the United States, and Canada.

Differentiator

Problem solved

Functional benefit

Brands

• Upsher-Smith: US-based generics manufacturer and subsidiary of Bora Pharmaceuticals, specializing in generic pharmaceuticals and rare disease medications including KYMBEE for DMD, generic Restasis, and generic Ciprodex
• SunWay Biotech
• Bora Health
• KYMBEE (deflazacort)
• VIGAFYDE

Products and services

• Bora CDMO Services Contract development and manufacturing services for small molecules and biologics, including process development, GMP manufacturing, analytical methods, and regulatory support from clinical phases through commercial production across oral solids, sterile injectables, semi-solids, and liquid-filled hard capsules. Sold to global pharmaceutical and biotech companies on multi-year contracts.
• Bora Biologics End-to-end biologics contract development and manufacturing services including cell line development, process development, drug substance manufacturing (up to 20,000L total bioreactor capacity across San Diego, Rockville, and Taiwan), and sterile drug product fill-finish. Operated in partnership with Tanvex Biopharma (TWSE: 6541). Sold to global biotech customers requiring commercial-scale mAb, biosimilar, and cell therapy production.
• Upsher-Smith Laboratories Generic Pharmaceuticals Wholly-owned US-based generics and specialty pharmaceuticals subsidiary offering a diversified portfolio of generic drugs and specialty medicines including ophthalmic, otic, CNS/neurology, and rare disease treatments. Sold through US hospital, pharmacy, and specialty distributor channels.
• SunWay Biotech Consumer Healthcare Subsidiary focused on manufacturing and global distribution of consumer healthcare and nutraceutical products, including MenaQ7 Metabolic (cardiovascular health) and other nutritional supplements. Sold via retail and e-commerce channels globally.
• VIGAFYDE (vigabatrin) Oral Solution FDA-approved ready-to-use vigabatrin liquid formulation for infantile spasms in pediatric patients aged 1 month to 2 years. The only ready-to-use vigabatrin formulation on the US market. Sold via Upsher-Smith's US specialty distribution channel with patient support through the Promise of Support program.
• VIGPODER (vigabatrin) Oral Powder Solution Vigabatrin oral powder for reconstitution indicated as a first-line treatment for infantile spasms in pediatric patients aged 1 month to 2 years. Acquired through Pyros Pharmaceuticals and sold via Upsher-Smith's US distribution network.
• KYMBEE (deflazacort) Tablets Deflazacort tablet treatment for Duchenne muscular dystrophy (DMD) in patients aged 5 and older. Manufactured in the USA by Upsher-Smith with components sourced from Italy. Supported by dedicated caregiver and HCP websites.
• Generic Cyclosporine Ophthalmic Emulsion 0.05% (Generic Restasis) Generic equivalent to AbbVie's Restasis, indicated to increase tear production in patients with suppressed tear production due to ocular inflammation associated with keratoconjunctivitis. Approved via FDA ANDA in January 2026 and launched in May 2026 by the Upsher-Smith subsidiary.
• Generic Ciprodex (Ciprofloxacin 0.3% and Dexamethasone 0.1%) Sterile Otic Suspension Generic version of Ciprodex (ciprofloxacin and dexamethasone) sterile otic suspension for otic infections. First prescription ear drop suspension launched by Upsher-Smith, targeting a US market of approximately $118M.

Quantifiable outcome

• CDMO revenue grew 53.8% year-over-year to NT$10.64 billion in 2025
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered core, minor and flagship.

• MacroGenicscoreStrategic or Co-development Partner · 12 May 2026Acquisition of MacroGenics' GMP manufacturing operations including Rockville, Maryland drug substance facility and Frederick warehouse for $122.5M upfront plus up to $5M milestones. Upon closing, Bora will sign long-term CDMO Service Agreement with MacroGenics. Facility provides commercial and clinical-stage monoclonal antibody programs including Incyte's Zynyz and TerSera's Margenza.
• Weider Global NutritionminorOthers · 1 May 2026SunWay Biotech (Bora subsidiary) acquisition of Weider Global Nutrition, a historic U.S. sports nutrition brand, expanding nutraceutical substance CDMO investments and global channel build-out for brand business.
• GSKflagshipStrategic or Co-development Partner · 23 February 2026$250 million five-year global manufacturing agreement extending through 2030. Bora manufactures 20+ commercial products for GSK covering HIV, malaria, pneumonia, parasitic infections, depression, migraine, acne, eczema, and psoriasis. Partnership began when Bora acquired GSK's Mississauga facility in 2020. Expanded to include access to multiple Bora sites including new Maple Grove oral solid dose facility.
• Corealis PharmacoreStrategic or Co-development Partner · 9 December 2025Strategic alliance to provide end-to-end oral solid dose development and manufacturing services. Combines Bora's global commercial infrastructure and scale-up capabilities with Corealis' early-phase formulation expertise. Creates unified pathway from discovery to commercial launch with aligned project management and quality systems.
• Tanvex BiopharmacoreStrategic or Co-development Partner · 27 August 2024Strategic alliance through which Tanvex acquired Bora Biologics, creating Taiwan's largest international-grade biologics CDMO team. Bora became approximately 30.5% largest shareholder of Tanvex. Integration combines Tanvex's San Diego commercial-scale biologics manufacturing with Bora's global CDMO platform and client relationships.
• Eden BiologicscoreStrategic or Co-development Partner · 10 May 2022Acquisition of Eden Biologics' CDMO business assets in Taiwan for up to $100M as part of expansion into biologics and cell/gene therapy markets. Enhanced capabilities in biological macromolecules and cell therapy with new bioreactors and quality standards. Now integrated into Bora Biologics.
• Accord BioPharmacoreStrategic or Co-development PartnerCDMO partnership for commercial manufacturing of UDENYCA (pegfilgrastim-cbqv) pre-filled syringes at Maryland sterile facility for US market cancer care applications.
• Gnosis by LesaffreminorStrategic or Co-development PartnerStrategic alliance between SunWay Biotech and Gnosis by Lesaffre (world's largest fermentation ingredient manufacturer) for global market expansion of MenaQ7 Metabolic and other nutraceutical ingredients.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Catalent: Catalent is one of the largest global CDMOs offering integrated small molecule and biologics development, oral solid dose, sterile fill-finish, and softgel capabilities — directly comparable to Bora's CDMO services portfolio. Recently acquired by Novo Holdings, the combined entity sets the benchmark for the tier Bora is competing to enter.
• Lonza Group: Lonza is the global leader in biologics CDMO with extensive mammalian and microbial capacity, plus small molecule APIs. Highly comparable to Bora Biologics and Bora CDMO across drug substance, drug product, and integrated offerings.
• Samsung Biologics: Samsung Biologics operates one of the world's largest biologics CDMO platforms with massive bioreactor capacity and integrated fill-finish. Directly comparable to Bora Biologics' mammalian cell culture and end-to-end biologics ambitions.
• WuXi STA (WuXi AppTec): WuXi STA is a leading China-based small molecule and biologics CDMO offering drug substance, drug product, and integrated services. Bora is explicitly positioning to win share from WuXi among biotechs impacted by the BIOSECURE Act.
• Recipharm: Recipharm is a European CDMO focused on oral solids, sterile injectables, and biologics with multiple manufacturing sites. Comparable to Bora's small molecule CDMO and Mississauga-style commercial manufacturing operations.
• Siegfried Holding: Siegfried is a Swiss-listed CDMO with API and drug product manufacturing, including sterile fill-finish and complex oral solids. Highly comparable to Bora's small molecule CDMO footprint and global multi-site model.
• Aenova Group: Aenova is a European CDMO offering solid dosage forms, sterile liquids, and semi-solids with several manufacturing sites. Comparable to Bora's Upsher-Smith generics and CDMO oral solid dose business.
• PCI Pharma Services: PCI Pharma Services is a global CDMO specializing in clinical and commercial supply, sterile fill-finish, and packaging. Comparable to Bora's Camden, Maryland sterile injectable facility and broader commercial CDMO services.

Broad incumbents

• Patheon (Thermo Fisher Scientific): Patheon is part of Thermo Fisher's pharma services segment offering CDMO services across small and large molecules globally. A larger incumbent competitor with broader portfolio and deeper R&D scale than Bora.

Emerging players

• Grand River Aseptic Manufacturing: Grand River Aseptic Manufacturing is a US-based sterile injectable CDMO with rapid recent growth in fill-finish capacity. Comparable in modality and customer base to Bora's Camden sterile facility, though smaller in scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@borapharmaceuticals
• LinkedInlinkedin.com/company/borapharmaceuticals

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bora Pharmaceuticals