Interpharm secures $41.5 million credit facility

By Angela McDaniels

Seattle, Feb. 13 - Interpharm Inc. has obtained a $41.5 million senior secured credit facility from Wells Fargo Business Credit, according to a company news release.

The new credit facility replaces Interpharm's previous $21 million credit facility.

"The new facility allows us to continue our research and development spending to further our expansion plan and goal of adding 25 Abbreviated New Drug Applications by June 30, 2007," Interpharm chief financial officer George Aronson said in the release.

Interpharm is based in Hauppauge, N.Y., where it develops, manufactures and markets generic prescription-strength and over-the-counter pharmaceutical products. It is a subsidiary of Interpharm Holdings Inc.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.