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., was founded in 1919 and is a fully integrated pharmaceutical company.

The Debevoise team is led by partner Andrew L. Bab and includes partner Gary M. Friedman, associates Joseph Binder, David P. Iozzi, David R. Rock, Michael Ronca and international associate Kietaro Hamada.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.