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The French pharmaceutical chemical maker EuroAPI says it has lined up the financing needed to fund its turnaround plan. The company has secured a $217 million bond backed by Sanofi, its former parent company, plus a $490 mil- lion credit line. In addition, Sanofi has agreed to pay $59 million through the end of 2025 for five drug ingredients. EuroAPI’s plan includes the sale of two production sites and investment of up to $435 million to boost output of large molecules, vitamin B12, prostaglandins, and opiates.
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