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

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