Becoming a pharmacist is a rewarding and fulfilling career path. Still, many aspiring pharmacists graduate with substantial student loan debt, which can
be daunting to manage while starting their careers. However, various pharmacist loan forgiveness programs can ease this financial burden and pave the way to
debt-free living. This article will explore six pharmacist loan forgiveness programs that can help pharmacists achieve financial freedom.
Public Service Loan Forgiveness (PSLF)
According to Bankrate, the Public Service Loan Forgiveness (PSLF) program is a federal program designed to forgive the remaining balance on federal Direct Loans
after 120 qualifying monthly payments while working full-time for a qualifying employer. Pharmacists who work for non-profit organizations, government agencies,
or public health organizations may be eligible for this program.
Health Professional Shortage Areas (HPSAs) Loan Repayment Program
The Health Professional Shortage Areas (HPSAs) Loan Repayment Program encourages healthcare professionals, including pharmacists, to work in areas with a shortage
of healthcare providers. Pharmacists who commit to working in designated HPSAs for a specified period can receive loan repayment assistance.
Chiesi Farmaceutici, the international, research-focused biopharmaceuticals and healthcare group has acquired Amryt Pharma, a global biopharmaceutical company
dedicated to developing novel treatments for rare diseases.
More than 300 million people worldwide are affected by rare diseases, including those who are living with ultra-rare metabolic and dermatologic conditions who still
have no approved treatment.
The acquisition reinforces Chiesi's commitment to deliver innovative treatments to patients with highly unmet medical needs. As a benefit corporation and a B Corp,
Chiesi strives to create a world where it is common to have a therapy for all diseases and acts as a force for good, for society and the planet.
Chiesi's Head of Chiesi Global Rare diseases Giacomo Chiesi commented: "We are excited to add the Amryt family to our company in this acquisition that demonstrates
our commitment to rare diseases and aligns with our growth strategy through partnerships beyond internal research and development."
Chiesi's new CEO Giuseppe Accogli said: "By joining forces and expertise we will be able to grow our capabilities and further strengthen our position to provide a
positive impact on patients living with rare diseases."
With regard to the financing of the deal, cash consideration has been partially financed through a EUR 700m syndicated loan led by BNP Paribas and Crédit Agricole
as Global Coordinators and ESG Structuring Banks, acting alongside BPER and Deutsche Bank as Mandated Lead Arrangers. Crédit Agricole is Loan Agent too. Lenders have
been advised by Clifford Chance, while Baker and McKenzie has assisted Chiesi Farmaceutici.