IFC Buys 11.5% of Granules India

International Finance Corp. (IFC; Washington), the private sector arm of the World Bank, has bought an 11.5% stake in active pharmaceutical ingredient (API) and pharmaceutical formulation intermediates (PFI) manufacturer Granules India (Hyderabad) for about $6.3 million. IFC will also provide long-term loan assistance of $9 million to Granules and provide advice on environment-, insurance-, and corporate governance-related measures to help align the company’s practices with international best practice standards, Granules says. Granules is a contract...

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