IFC MAKES MAJOR LOAN TO INDIA PHARMACO TO BOOST GENERICS PRODUCTION
June 8th, 2014
AN INDIAN pharmaceutical manufacturer is borrowing USD147.5 million from the World Bank’s International Finance Corporation (IFC) to boost production of affordable generic medicines, especially for poorer India consumers. Jubilant Pharma Ltd, a wholly-owned subsidiary of India-based international pharma company Jubilant Life Sciences Ltd, manufactures in India, USA, and Canada. The loan, said an IFC note, will help the company “strengthen its generic drug manufacturing facilities in India.” Jubilant chairman Shyam S Bhartia added it would “strengthen our ...
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