North Wales operation of pharma giant Wockhardt secures £20m new facility to expand

North Wales-based pharmaceutical manufacturer, Wockhardt, had secured a new £20m lending facility to support its expansion plans. The Indian-owned business,. which has a global presence, has been backed by NatWest. The debt advisory team of professional advisory firm RSM acted for Wockhardt on the funding deal.

Established in 1950, Wockhardt UK, employs more than 400 at its UK factory in Wrexham. During the pandemic it produced the Astra Zeneca Covid vaccine for the UK Government. This saw it manufacturing more than 100 million doses.

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Its UK managing director, Ravi Limaye, said the funding will able to deliver its next phase of growth in the UK and support its global vaccine programme, which includes investing in new machines and rolling out multiple vaccines.

He added: “Working with the RSM team and securing this inward investment means we are able to realise our facility upgrade plan, further demonstrating our commitment to supplying high quality medicines to those that need them the most.”

RSM’s Ashley Suter, Jack Williams, Matthew Kells and Alexander Harris advised Wockhardt on the funding package. Eversheds and Hill Dickinson provided legal advice on the deal.