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Pharmaceutical manufacturer secures £20m funding for global vaccine programme

Leading audit, tax and consulting firm RSM UK’s debt advisory team has helped pharmaceutical manufacturer Wockhardt UK secure a total funding package of £20m from NatWest to enable further modernisation of facilities and investment in key strategic projects to drive future business growth.

Established in 1950, Wockhardt UK is a multinational company, with its UK head office based in Wrexham, North Wales. The company employs over 400 UK staff to support the manufacturing and delivery of high-quality products and services across the world.

The company was responsible for producing over 100 million doses of the Astra Zeneca vaccine during the coronavirus pandemic, leading to a number of high-profile visitors to site including King Charles.

In securing the funding package, the company, run in the UK by managing director Ravi Limaye OBE, will be 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.

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.

Ashley Suter, RSM’s head of debt advisory in the North-West and Wales, said:

“Wockhardt is one of the UK’s leading healthcare manufacturers and played an integral role in producing vaccines during the pandemic. The funding secured will enable the company to take the next steps in its ambitious growth strategy and continue to serve its diverse customer base, all while playing an integral role in supporting the government’s Covid-19 recovery plan.”

Ravi Limaye OBE, managing director at Wockhardt UK, 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.”