Recro Pharma, Inc. (REPH) stock soared 1.61% in the pre-market trading session at the price of $1.89 despite no fundamental reason. REPH is a leading pharmaceutical company. It provides regulatory assistance, clinical and commercial production, logistics services, packaging, and lyophilization to the global market.
Inducement Grants for New Employees
On 6th October 2021, REPH published that it had expanded the team by adding new staff. The expansion aims to improve product advancement, business growth, quality, technical operations and encourage leadership in San Diego operations. The company had also appointed Tim Bourque as its vice president and head of operations for Recro San Diego. He will be responsible for the successful integration of Recro and IriSys while supporting revenue growth and consumer excellence.
Previously, Mr. Bourque has worked at Ajinomoto Bio-Pharma Services as a senior director of supply chain and facilities. At Ajinomoto, he was responsible for the U.S. supply chain, warehouse, packaging, and visual inspection operations. Mr. Bourque has also held key supply chain and logistics positions at biopharmaceutical companies like Lonza, Shire Human Genetic Therapies, and Ipsen.
Management Comments
Chief executive officer of REPH, David Enloe, remarked that they are excited to welcome all new employees to their team. Their current acquisition with IriSys is the central element of their strategy. Mr. Tim will play an essential role in supporting and leading the ongoing unification of the companies. He will also direct the leading activities at the new San Diego site moving ahead. The company is committed to developing strong leadership across the entire organization. Tim’s nomination will further advance this goal to help strengthen their experienced San Diego-based team, he added.
REPH Signed Energy Agreement with Georgia Power
On 21st September 2021, REPH reported that it had signed a renewable energy agreement with Georgia Power. As per the deal, Recro Pharma will purchase approximately 1.2 million renewable energy credits from the Simple Solar Program. These RECs purchased will support the production of renewable electricity from low- or zero-emission resources. They will also reduce the emissions from the company’s electricity consumption.
The purchase deal will contribute toward the equivalent reduction of near 937,426 tons of CO2 emissions. It will also serve as a vital component of the ongoing environmental sustainability program. This announcement had made in connection with the Zero Emissions Day that is being celebrated on 21st September every year.
