Wyoming API maker Cody Labs nabs $11M loan from state to expand operations


Cody Labs, a subsidiary of Lannett Company of Philadelphia, roped in an $11 million loan from the state of Wyoming that will be used to expand the API maker’s operations.

Cody Labs, which is based in Cody, WY, manufacturers APIs and finished dosage forms of pain relief medication. The company, which employs more than 100 people, was granted an import license in 2008 to import raw opiate material to produce painkillers.

Approval of the loan, which was part of a $41 million package approved by the State Loan and Investment Board that included two other companies, must still pass a legal and technical review before it is dispensed.


The 13th Annual Digital Pharma East

Digital Pharma East returns to the Pennsylvania Convention Center September 17–20, bringing together over 1000 attendees from biotech and pharma, to better understand how to present business plans, justify budget and innovation, and de-risk proposals getting shut down — essentially, understand how they can return to the office and become champions for their internal digital needs. Join us and save 15% on standard rates when you register with Discount Code DPE19Fierce.

Bernhard Opitz, an officer with Cody Labs, told the board about 5 tons of pharmaceutical products are manufactured at the facility each year and the company plans to add 11 tons annually through its planned expansion, The Associated Press reported. The company expects to hire more workers with the expansion.

“We very much appreciate the statement of trust and support in our project,” Opitz said of the board’s approval of the loan.

- check out the AP story 

Related Article:
AMRI, Saneca Pharma team to produce a range of opium-based APIs


Suggested Articles

The FDA lambasted Strides Pharma in a warning letter after inspectors found testing records in the trash and in bags by a shredder.

Chinese biotech CMBG hopes to get a cell manufacturing facility built in nine months and more manufacturing news of note.

Kite has been buying the viral vector starting material for its CAR-T treatment Yescarta from contractors but says it is time to produce its own.