Swedish contract developer and manufacturer Recipharm says that it has borrowed €90 million from Swedbank AB in order to finance additional contract pharmaceutical manufacturing capacity and acquisitions. The company says that it also plans to use a portion of the funding for “building and enhancing existing and new customer relationships.” Recipharm has a dedicated facility for dry powder inhaler manufacturing located in Ashton, UK.
Recipharm CEO Thomas Eldered explained, “The new financing will serve to bolster initiatives designed to build and foster strong customer relationships with all our clients across the pharmaceuticals sector. Indeed, 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. As a forward looking enterprise, we very much want to be there for the long term whilst at the same time having the flexible and established capabilities to respond rapidly to varying and immediate customer needs. Our program of strategic acquisitions and investment in current facilities has always been geared towards increasing and expanding the services that we tailor to each specific client. We look forward to continuing in this vein.”
Read the Recipharm press release.
