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Outsourcing
EuroAPI secures financing from Sanofi
by Michael McCoy
October 20, 2024
| A version of this story appeared in
Volume 102, Issue 33
The French pharmaceutical chemical maker EuroAPI says it has lined up the financing needed to fund its turnaround plan. The company has secured a $217 million bond backed by Sanofi, its former parent company, plus a $490 mil- lion credit line. In addition, Sanofi has agreed to pay $59 million through the end of 2025 for five drug ingredients. EuroAPI’s plan includes the sale of two production sites and investment of up to $435 million to boost output of large molecules, vitamin B12, prostaglandins, and opiates.
Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society
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