Recipharm snags $114 million loan, says it's shopping

Recipharm has gotten it hands on some extra money and is out shopping for companies it can buy to expand its contract manufacturing. The company says it obtained a 5-year, €90 million ($114 million) loan from Swedbank AB earlier this week and plans to expand its contract manufacturing and development business. The Sweden-based company says in a release that it plans to build current operations and continue its plan of "strategic acquisitions."  While it does not specify who might be targets, OutsourcingPharma reminds that CEO Thomas Eldered last year told the publication that Recipharm would like to participate in the growth in India and China. But then wouldn't everyone. Story | More

Suggested Articles

The cleaning procedures are so poor at a Zydus Cadila plant in India that the FDA says a sampling found 10 different cross-contaminated products.

Mylan is the most recent drugmaker facing the FDA's ire over a tainted API that led to a global recall of "sartan"-based drugs last year.

Merck MSD's $1.2 billion production restructuring has fallen on a site in France, where more than 200 manufacturing and R&D jobs will be swept away.