The State Loan and Investment Board on Thursday approved loaning an additional $12 million to a pharmaceutical manufacturer that is expanding its operations in northern Wyoming.
The board — Gov. Matt Mead and the four other statewide elected officials — unanimously approved the new loan for Cody Laboratories, which is a subsidiary of the Philadelphia-based Lannett Co.
The board last year approved an $11 million loan to the company for the same expansion. The additional loan approved Thursday will bring the total to $23 million.
The interest rate and other details of the Cody Labs loans are still being worked out by the state treasurer's office, officials...