CHICAGO--(BUSINESS WIRE)--Meitheal Pharmaceuticals, Inc. (“Meitheal”), a fully integrated generic injectables company based in Chicago, today announced it has entered into a $35 million senior secured revolving credit agreement with J.P. Morgan. Subject to customary conditions, Meitheal may, at its option, request an increase in the credit facility for a total amount of up to $80 million.
“We are pleased to have closed this financing with J.P. Morgan which strengthens our balance sheet and provides us with the working capital and flexibility needed to invest in strategic areas for growth,” said CEO Tom Shea. “This transaction underscores Meitheal’s demonstrated commitment to fiscal responsibility, and we look forward to leveraging these funds to bring important, accessible medicines to patients in need.”
The three-year credit facility matures on August 9, 2026 and is secured by assets of Meitheal. Meitheal intends to use the funds for general corporate purposes.
ABOUT MEITHEAL PHARMACEUTICALS
Founded in 2017 and based in Chicago, Meitheal Pharmaceuticals is focused on the development and commercialization of generic injectable medications and, as of 2022, has expanded its focus to include fertility, biologic, and biosimilar products. Meitheal currently markets over 50 US Food and Drug Administration (FDA)-approved products across numerous therapeutic areas including anti-infectives, oncolytics, intensive care, and fertility. As of the end of June 2023, Meitheal, directly or through its partners, has over 20 products in the research and development phase, 21 products planned for launch in 2023, and an additional 20 products under review by the FDA. Meitheal’s mission is to provide easy access to fairly priced products through robust manufacturing, consistent supply, and rapid response to our customers’ needs. Ranked among the top 100 Crain’s Best Places to Work in Chicago, Meitheal emulates the traditional Irish guiding principle we are named for — Meitheal (Mee·hall): working together toward a common goal, for the greater good.
Learn more about who we are and what we do at www.meithealpharma.com.
