German pharma B. Braun Medical has landed a $33 million loan from the International Finance Corporation (IFC), a member of the World Bank Group, to help fund the construction of a sterile injectables plant in Indonesia.
The overall cost of the facility has been pegged at about $100 million and would be, when completed, one of the company’s biggest manufacturing plants.
The factory is expected to have the capacity to produce 150 million units of intravenous liquids as well as injectable medical products after both phases of construction are completed in about four years, a company spokesman said. The plant will employ around 800 people when finished.
“Apart from fulfilling the needs of the Indonesian market, more than 50 percent of the production will be exported to the Asia-Pacific region, Japan and Australia, and to Europe,” said Stephan Soyka, a managing director of B. Braun’s Indonesian operations.
The facility will be designed to meet manufacturing standards of the Therapeutic Goods Administration, Australia’s regulator for medical drugs and devices, and the FDA.
In May, B. Braun agreed to settle a Department of Justice action and pay almost $8 million in penalties, forfeiture and restitution to resolve its criminal liability related to the sale of contaminated prefilled saline flush syringes that dated back to 2007.
B. Braun settles with the DOJ over contaminated syringes