Aspen Pharmacare Receives $ 700 Million Loan From Global Financial Institutions

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JOHANNESBURG, June 30. (Reuters) – South African pharmaceutical company Aspen Pharmacare said Wednesday it received a € 600 million ($ 711.84 million) loan from global financial institutions to help refinance existing loans and develop vaccines.

The International Finance Institute (IFC), the World Bank’s private sector, said in a statement that the loan will “refinance existing debt and strengthen the company’s balance sheet by supporting Aspen’s operations, including vaccine production.”

Aspen purchases COVID-19 vaccine ingredients from Johnson & Johnson for vaccine packaging in South Africa. This process is known as filling and completing. (1 dollar = 0.8429 euros) (Reporting by Promit Mukherjee. Editing by Jane Merriman)

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