A leading CDMO secures triple-digit million euro credit facility
As part of its business growth strategy, Vetter, a leading contract development and manufacturing organization (CDMO), has announced that a triple-digit million euro syndicated loan has been arranged with a consortium of renowned banks led by Deutsche Bank AG, the Landesbank Baden-Württemberg, and Commerzbank AG at the end of march. The five-year credit facility will secure Vetter’s plans for additional investments in its facilities and production capacities. Thanks to this syndicated loan, Vetter will manage to set a course for continued success and expand its leading role in the international pharma and biotech market.
Over the past several years, Vetter has seen constant growth in customer demand, resulting in the need for expanded production capacity. In response, Vetter created its new production site Ravensburg Vetter South and the company’s clinical development site in Chicago, Vetter’s first U.S. facility. This growth has also led to the continuing need for additional employees. As such, Vetter has created over 300 new jobs in the last year alone. To continue organic growth, Vetter sought the announced credit facility for further investments in new filling capacity, as well as modernizing and expanding existing facilities.
“This syndicated loan allows for continuous investment in our company and keeps us strategically well positioned for the future,” said Max Horn, Managing Director at Vetter. “Therefore, combined with our own financial strength, this multi-million-credit facility, from renowned business banks, gives us the financial basis we need. We always seek to use most innovative technologies and processes available within the industry. To do so means that we must continue to adapt our facilities to meet the markets ever-increasing capacity and quality requirements. Such expansion not only provides our customers security of supply but also safeguards jobs for our employees. With this syndicated loan, we have secured our position as a key strategic partner for the development and filling of drugs for our clients now and in the future.”
For more information contact:
Vetter Pharma International GmbH