Nephron Pharmaceuticals: $350 Million Raised Led By BlackRock And PNC

By Amit Chowdhry ● Sep 20, 2023

Nephron Pharmaceuticals recently celebrated a successful $350 million capital raise led by BlackRock Capital Investment Advisors, LLC and PNC Bank to support future growth of the pharmaceutical manufacturer. This announcement was the culmination of collaboration among leaders at all three entities and kicked off a new era of unlimited potential for Nephron, a company known for bringing jobs to South Carolina and delivering life-saving medications for patients from coast to coast.

Nephron develops and produces safe, affordable generic inhalation solutions and suspension products. And the company also operates an industry-leading 503B Outsourcing Facility division, which produces pre-filled sterile syringes, luer-lock vials, IV bottles, and IV bags for hospitals across America to alleviate drug shortage needs.

Huron Transaction Advisory served as Investment Banker, and Huron Consulting Services acted as Financial Advisor, while John A. Sowards and Maynard Nexsen PC served as Legal Counsel to Nephron. And White and Case LLP and Ropes & Gray LLP served as Legal Counsel to BlackRock, while Blank Rome LLP served as Legal Counsel to PNC.


“When I had the honor of assuming the role of CEO at Nephron, I had a vision that included expanding the reach of our company to deliver life-saving medications to as many patients as possible. We have never lost our focus, we have continued to grow, and with this partnership, we are in the position to thrive. This is something we can all celebrate, as we help patients and doctors far beyond the borders of our state. I thank our partners at BlackRock, PNC, and not to mention, many others who have invested in our cause and had our backs. We look forward to working together for many years to come.”

– Nephron CEO and Owner Lou Kennedy

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