€90m will be used to upgrade facilities and fund acquisitions
Recipharm, a Swedish contract development and manufacturing organisation (CDMO), has arranged a five-year €90m loan facility with Swedbank.
The firm will use the loan to increase capital investment into its facilities to meet expanding customer demand. It will also be used to bolster the next phase of the company’s rolled out programme of acquisitions.
Recipharm’s chief executive Thomas Eldered said the new financing will also bolster initiatives to build and foster strong customer relationships with clients.
‘Recipharm adopts a partnering approach to client relations to ensure that we consistently provide bespoke services that meet the precise needs of each individual customer both now and in the future,’ he said.
‘As a forward-looking enterprise, we very much want to be there for the long term while at the same time having the flexible and established capabilities to respond rapidly to varying and immediate customer needs.’
Recipharm supplies the global pharmaceuticals market with multiple dosage forms that include solid dose, granulates and powders, sterile liquids and lyophilisates, semi solids, beta-lactams, hormones, oral liquids, sprays and dry powder inhalers.