Recipharm secures financing for continued growth

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Recipharm has today entered a new five-year SEK 1 500 million loan facility with three of the largest banks in Scandinavia; DNB, Handelsbanken and Swedbank.

The revolving credit facility of SEK 1 500 million will serve as an additional resource to facilitate future expansion plans set in place for the business. At the end of the second quarter 2014 Recipharm had cash of SEK 838 million. The new SEK 1 500 million facility will replace current available loan and credit facilities of SEK 604 million, which was at the end of the second quarter utilized with SEK 433 million. The new credit facility will be used as the need arises.

Thomas Eldered, CEO of Recipharm AB (publ), commented: “The new financing is an important part of achieving our objective of double sales within 5 years. This will further enhance our opportunities to grow and we are continuously looking for new opportunities that can give us access to new markets, new interesting technologies and relationships. It also enables us to keep building strong relationships with our customers through the pharmaceutical sector through providing them with solutions that add value. 

Setterwalls acted as legal advisor and AGL as financial advisor to Recipharm in this transaction.

For further information please visit www.recipharm.com or contact:
Björn Westberg, CFO, bjorn.westberg@recipharm.com, telephone: +46 8 602 46 20

This information is published in accordance with the Swedish Securities Market Act, the Swedish Financial Instruments Trading Act and/or the regulations of NASDAQ OMX Stockholm. This information was submitted for publication on 19th September 2014  at 14:00 pm CET.

About Recipharm
Recipharm is a leading CDMO (Contract Development and Manufacturing Organisation) in the pharmaceutical industry based in Sweden employing some 1,500 employees. Recipharm offers manufacturing services of pharmaceuticals in various dosage forms, production of clinical trial material and pharmaceutical product development. Recipharm currently manufactures more than 200 different products to both Big Pharma and smaller research- and development companies. Recipharm’s turnover is approximately SEK 2.1 billion and the Company operates development and manufacturing facilities in Sweden, France, the UK, Germany and Spain and is headquartered in Jordbro, Sweden. The Recipharm B-share (RECI B) is listed on Nasdaq OMX Stockholm.

For more information about Recipharm and our services, please visit www.recipharm.com.

Recipharm AB (publ)
Corporate identity number 556498-8425
Address Lagervägen 7, SE-136 50 Jordbro Telephone 46 8 602 52 00

Fax 46 8 81 87 03, www.recipharm.com

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The new financing is an important part of achieving our objective of double sales within 5 years.
Thomas Eldered