April 20, 2017 / 6:54 AM / 9 months ago

Japan's Sawai Pharmaceutical to buy U.S.'s Upsher-Smith Laboratories for $1.05 bln

TOKYO, April 20 (Reuters) - Japan’s Sawai Pharmaceutical Co Ltd said on Thursday it would buy U.S. generic drug maker Upsher-Smith Laboratories Inc for $1.05 billion in its first overseas acquisition.

Sawai, an Osaka-based generic drug maker, said it would buy the company from the founding family to expand its presence in the United States, the world’s largest drug market.

Sawai plans to complete the deal by the end of June. The acquisition will not affect its earnings forecast for the year ended March, Sawai said. (Reporting by Chris Gallagher and Junko Fujita)

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