On October 19, 2022 Upsher-Smith Laboratories, LLC (Upsher-Smith) reported that it has added two near-term generic products to its portfolio in an exclusive agreement with CorePharma, LLC (CorePharma) (Press release, Upsher-Smith Laboratories, OCT 19, 2022, View Source [SID1234622169]). Under the terms of the agreement, CorePharma will secure FDA approval and manufacture both products at its New Jersey manufacturing facility. Upon FDA approval, Upsher-Smith will market and distribute the products under its own label in the US.

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This collaboration supports Upsher-Smith’s company-wide effort to grow the Company’s portfolio of products through strategic partnerships and product acquisitions.

"Our partnership with CorePharma, a leader in product development and manufacturing, is especially significant as it provides Upsher-Smith with two near-term product opportunities that will help maximize top-line revenue in FY2022," said Arun Nataraj, Vice President, Corporate Development, Upsher-Smith. "This is the latest of four recently completed strategic partnerships, reflecting the rapid execution of our external development strategy to expand our generic portfolio."

Rich Fisher, President and COO, Upsher-Smith added, "Over the past six months, our corporate development team has had great success expanding our portfolio of high-quality generic products and positioning Upsher-Smith for both near-term and future growth. We look forward to a productive partnership with CorePharma."

"CorePharma is extremely happy to partner with a world class organization such as Upsher-Smith," said Arpit Patel, Chief Executive Officer, CorePharma. "With their strong commercial experience in the US Market, we are confident of the success of these product launches and are looking forward to expanding our partnership across many other future opportunities."

Upsher-Smith will open its world-class manufacturing facility in Maple Grove, MN early next year. The new, 270,000 square foot facility will have fully up-to-date serialization and packaging capabilities and has capacity and capabilities that can support contract manufacturing for third parties. To learn more, visit www.upsher-smith.com.