Bora Pharmaceuticals

What Bora Pharmaceuticals does

Bora Pharmaceuticals is a Taiwan-headquartered, Taiwan Stock Exchange-listed (TWSE: 6472) global contract development and manufacturing organization (CDMO) founded in 2007 by Bobby Sheng. The company operates nine cGMP manufacturing facilities across Taiwan, Canada, and the United States, with capabilities spanning oral solid dose, semi-solids, liquids, nasal sprays, ophthalmic, sterile injectables (including lyophilization and pre-filled syringes), and biologics (mAbs, fusion proteins, biosimilars). Manufacturing sites are approved by USFDA, MHRA, Health Canada, ANVISA, Japan FDA, and other major regulatory bodies, enabling commercial supply to more than 100 markets.

The company delivers end-to-end CDMO services from formulation development through clinical and commercial manufacturing, analytical testing, stability storage, and packaging with serialization. Technology platforms include Modified Release, Extrusion Spheronization, Wuster Coating, and High-Potency Liquid Capsule capabilities, with the Baltimore-Camden facility adding Groninger FlexPro 50 aseptic filling with isolator technology and the Taoyuan facility providing a dedicated 6,891 m² sterile ophthalmic operation.

Bora generates revenue primarily through multi-year contract manufacturing agreements and project-based CDMO engagements with pharmaceutical and biotech customers. Its customer base includes major enterprise relationships such as GSK ($250M five-year contract for 20+ products), Celltrion, KYOWA Pharmaceutical, Tanvex, DotBio, and SunWay Biotech/Gnosis. The company employs approximately 1,900 staff globally and has executed a sustained acquisition-driven growth strategy, including the $210M Upsher-Smith acquisition (April 2024) and Emergent BioSolutions' Camden sterile facility (August 2024).

Name

Bora Pharmaceuticals

Legal name

Bora Pharmaceuticals Co., Ltd.

Website

https://boracdmo.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Bora Pharmaceuticals is a Taiwan-based global CDMO operating nine cGMP facilities across Taiwan, Canada, and the United States, providing formulation development, clinical and commercial manufacturing, and packaging of oral solid dose, sterile injectables, biologics, and ophthalmic products to pharmaceutical companies in 100+ markets.

Ownership category

akta.pro rank

Product category

Pharmaceutical Contract Manufacturing (CDMO)

NAICS

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

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Small-Molecule Drug Product (Solid/Oral/Parenteral) CDMO (HLAGABAB)

akta.pro secondary industries

Biologics (mAbs/Recombinant Proteins) CDMO (HLAGABAC), Clinical Trial Material (CTM) Manufacturing & Supply CDMO (HLAGABAK), Contract Development & Manufacturing for Generics (CDMO/CMO) (HLAIABAI), Packaging, Labeling & Serialization (Clinical/Commercial) CDMO (HLAGABAJ)

Keywords

• Contract pharmaceutical manufacturing
• Oral solid dose CDMO
• Sterile injectable manufacturing
• Biologics contract development
• Aseptic fill finish services

Headquarters

HQ city

Taipei City

HQ country

Taiwan

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Contract Development and Manufacturing (CDMO) Services: Bora generates revenue through providing contract development and manufacturing services to pharmaceutical companies. Services include formulation development, clinical and commercial cGMP manufacturing, analytical testing, and packaging of pharmaceutical products. Revenue is generated through long-term contracts with pharmaceutical companies for drug product manufacturing and development.
2. Strategic Manufacturing Partnerships: Revenue from strategic partnerships such as the $250M five-year GSK global manufacturing contract and other multi-year CDMO agreements with pharmaceutical companies.
3. Commercial Manufacturing Supply: Supply of manufactured drug products to pharmaceutical partners for commercial distribution in global markets

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Bora Pharmaceuticals is a global Contract Development and Manufacturing Organization (CDMO) that provides formulation development, clinical and commercial cGMP manufacturing, analytical testing, and packaging services for complex oral solid dose, semi-solids, liquids, nasal sprays, ophthalmic, sterile injectables, and biologic pharmaceutical products. Operating nine cGMP facilities across Taiwan, Canada, and the United States, the company serves pharmaceutical and biotech clients across more than 100 global markets.

Product overview

Bora Pharmaceuticals is a global Contract Development and Manufacturing Organization (CDMO) operating as a unified platform of pharmaceutical manufacturing services. The company offers comprehensive end-to-end capabilities spanning formulation development, analytical services, clinical and commercial cGMP manufacturing, and packaging across nine facilities in Taiwan, Canada, and the United States. The product portfolio includes Oral Solid Dose, Semi-Solids, Liquids, Nasal Spray, Ophthalmic, and Sterile Injectables manufacturing services, complemented by Biologics capabilities for large molecule development. Key technology platforms include Modified Release, Extrusion Spheronization, and Wuster Coating. Development services encompass Formulation Development, Analytical Development, Analytical Testing, and Stability Testing. Manufacturing services include Small Scale & Pilot, Scale-Up & Commercial, and Packaging & Serialization. The company serves 100+ global markets with regulatory approvals from USFDA, MHRA, Health Canada, ANVISA, and other major authorities.

Differentiator

Problem solved

Functional benefit

Brands

• Bora Biologics: Biologics CDMO services including cell line development, process development, and GMP manufacturing
• Upsher-Smith

Products and services

• Oral Solid Dose Manufacturing cGMP manufacturing of oral solid dosage forms including tablets and capsules with scalable batch sizes from clinical to commercial scale, for pharmaceutical company clients.
• Semi-Solids Manufacturing cGMP manufacturing services for semi-solid pharmaceutical formulations including creams, ointments, and gels for pharmaceutical clients.
• Liquids Manufacturing cGMP manufacturing of liquid pharmaceutical dosage forms for clinical and commercial supply for pharmaceutical clients.
• Nasal Spray Manufacturing Specialized cGMP manufacturing services for nasal spray drug delivery systems for pharmaceutical clients.
• Ophthalmic CDMO Manufacturing Services Sterile ophthalmic manufacturing including solutions, emulsions, creams, ointments, and gels at a dedicated 6,891m2 FDA-approved facility in Taoyuan City, Taiwan for pharmaceutical clients.
• Sterile Injectables Manufacturing Aseptic fill/finish services for sterile injectables including vials, pre-filled syringes, and lyophilization, featuring Groninger FlexPro 50 aseptic filling line with isolator technology, for pharmaceutical clients.
• Biologics Development and Manufacturing Large molecule CDMO services including cell line development, process development, analytical development, and GMP manufacturing for monoclonal antibodies, fusion proteins, biosimilars, and multi-specific antibodies for biotech and pharmaceutical clients.
• Formulation Development Early-stage formulation development services supporting drug product development from pre-formulation through clinical manufacturing for pharmaceutical clients.
• Analytical Development Comprehensive analytical method development and validation services for pharmaceutical products for pharmaceutical clients.
• Analytical Testing Full spectrum analytical testing services including in-process testing, release testing, and characterization for pharmaceutical clients.
• Stability Testing and Storage Stability study execution and controlled storage conditions for pharmaceutical products for pharmaceutical clients.
• Packaging and Serialization Commercial packaging services with serialization capabilities to meet global track-and-trace requirements for pharmaceutical clients.
• Small Scale and Pilot Manufacturing Clinical-scale manufacturing capabilities for early-stage drug development and validation runs for pharmaceutical clients.
• Scale-Up and Commercial Manufacturing Large-scale commercial manufacturing services to support product launch and ongoing market supply for pharmaceutical clients.
• U.S. Manufacturing U.S.-based pharmaceutical manufacturing capabilities across Minnesota and Maryland facilities for domestic and international supply for pharmaceutical clients.
• Modified Release Technologies Specialized modified release drug delivery technologies for patient-centric formulations offered to pharmaceutical clients.
• Extrusion Spheronization Controlled release pellet manufacturing technology using extrusion and spheronization processes offered to pharmaceutical clients.
• Wuster Coating Advanced coating technology for pharmaceutical pellets and tablets offered to pharmaceutical clients.
• Solvent-Based Manufacturing Solvent-based manufacturing capabilities for specialized pharmaceutical formulations offered to pharmaceutical clients.

Quantifiable outcome

• 95%+ of projects completed on time and in full
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

Nine partnerships are on record, tiered core and strategic.

• GSKcoreStrategic or Co-development Partner · 15 July 2026$250M five-year global manufacturing contract. Bora manufactures more than 20 commercial products for GSK at its global facilities.
• Corealis PharmacoreStrategic or Co-development Partner · 9 December 2025Strategic alliance to create seamless, end-to-end solution for oral solid dose development and manufacturing. Combines Bora's global commercial infrastructure and scale-up expertise with Corealis's early-phase development and clinical-scale manufacturing capabilities.
• DotBiostrategicStrategic or Co-development Partner · 8 January 2025Bora Biologics announced strategic collaboration to accelerate key CMC development of DotBio's tri-specific antibody to treat cancer.
• Insilico MedicinestrategicStrategic or Co-development Partner · 1 January 2025Partnership to create an end-to-end AI-integrated drug development model, combining Bora's global manufacturing quality and commercialization capabilities with Insilico's AI technology.
• Gnosis by LesaffrestrategicStrategic or Co-development Partner · 18 March 2024Strategic partnership to launch MenaQ7 Metabolic featuring ANKASCIN 568-R ingredient. Combines SunWay Biotech's red yeast rice technology with Gnosis's vitamin K2 expertise.
• Tanvex BioPharmastrategicStrategic or Co-development Partner · 19 January 2024Tanvex BioPharma completed acquisition of Bora Biologics, launching new era in biologics development. Bora made strategic investment into Tanvex to provide global biomanufacturing services.
• SunWay BiotechstrategicStrategic or Co-development Partner · 11 December 2023Bora became major shareholder of SunWay Biotech. SunWay brings exclusive technologies and raw material formulation expertise in nutraceuticals.
• CelltrioncoreStrategic or Co-development Partner · 5 April 2023Partnership to contract manufacture and commercialize a range of oral dosage form drugs across the APAC region. Products manufactured at Bora's Zhunan Site for regulatory filings in seven countries.
• KYOWA Pharmaceutical Industry Co. Ltd.coreStrategic or Co-development Partner · 6 August 2021Partnership to manufacture generic product for filing in Japan. KYOWA selected Bora for manufacturing capabilities.

Scale indicators8 records

Recent moves11 records

Expansion highlights8 records

Broad incumbents

• Lonza: Swiss-listed global CDMO with leading small-molecule API and biologics capabilities. Comparable in CDMO model and customer base; Lonza is much larger and a benchmark for Bora's biologics ambitions.
• Thermo Fisher Scientific (CDMO Services): Operates a large pharmaceutical product and CDMO business via Patheon. Comparable in oral solid dose, sterile, and biologics CDMO services; much larger and more diversified than Bora.
• Catalent (Novo Holdings): Global CDMO leader offering softgel, oral dose, biologics, and sterile fill-finish across a much larger network. Directly comparable to Bora across multiple dosage forms; Bora is a smaller, more focused alternative.
• Samsung Biologics: South Korea-based biologics CDMO with very large single-site mAb capacity. Comparable as a regional Asian CDMO competitor with biologics focus, particularly relevant for Bora Biologics.

Direct peers

• Recipharm: European CDMO with strong oral solids, sterile, and biologics capabilities. Directly comparable as a multi-site CDMO serving pharma customers globally with similar dosage-form breadth.
• Aenova: European CDMO specializing in solid, semi-solid, and sterile dosage forms. Comparable in dosage-form breadth and contract manufacturing model, though focused on European markets.
• Delpharm: France-based CDMO with broad oral solid, sterile, and semi-solid manufacturing across multiple sites. Comparable multi-site European CDMO peer, primarily serving European pharma customers.
• WuXi STA (WuXi AppTec): China-based CDMO offering small-molecule API and drug product, formulation, and analytical services. Closest geographic and capability competitor to Bora in Asia, though currently affected by US BIOSECURE-related headwinds.
• Siegfried Holding: Swiss CDMO focused on API and finished drug products including oral solids and sterile. Comparable in CDMO model, complexity focus, and customer base to Bora's small-molecule business.
• Piramal Pharma Solutions: India-based CDMO offering sterile injectables, oral solids, and integration services. Comparable in cross-border M&A-driven expansion and CDMO service breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

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

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Bora Pharmaceuticals