Romania: EIB to help improve generic drug production
20 April 2023
The EIB and Romanian company Antibiotice SA signed a new advisory agreement in Luxembourg yesterday.
EIB advisory services will help the company build its capacity to develop new generic drugs, improve production processes and strengthen its local and international market presence.
Antibiotice SA has been one of the leading Romanian-owned manufacturers of generic drugs for over 67 years. European Investment Bank (EIB) advisory experts will focus on exploring different avenues for the company’s expansion, including portfolio repositioning, product label extension, the incorporation of new generics, and building new research and development facilities to create differentiated, high-value generic drugs.
“By sharing international best practice through our advisory support, we aim to assist Antibiotice SA in optimising their processes and better position their generic drugs, with a positive impact on the pharmaceutical market in Romania,” commented EIB Head of Advisory Services Hristo Stoykov. “The Bank’s track record in delivering sound investment projects in the life sciences sector alongside the input of specialised consultants will be key to delivering a comprehensive package of advisory support to Antibiotice SA.”
"The advice to be provided by the European Investment Bank experts will support our vision of integration into the European pharmaceutical value chain and participation in the European production of active substances based on the strategy to reduce dependence on raw materials from Asian markets. We will also work with EIB representatives to achieve our objectives of sustainable development through portfolio diversification and sustainable investments in order to redefine our future and maintain our status as the most important Romanian producer of generic medicines, which is of strategic importance for Romania," said CEO of Antibiotice Ioan Nani.
The EIB has been working in Romania since 1991, channelling more than €18 billion in financing for projects that further the country’s economic and financial development. The EIB is the long-term lending institution of the European Union, owned by its Member States. It finances sound investment contributing towards EU policy goals. The EIB’s key priorities are climate and the environment, development, innovation and skills, small businesses, infrastructure and cohesion. It works closely with other EU institutions to foster European integration, promote the development of the European Union and support EU policies in more than 140 countries worldwide.
In 2022, EIB advisory services increased tailored advisory support for Romanian public and private entities related to sectors including health, road safety, education, climate action, decarbonisation, digital transition and others. The EIB provided backing for the construction of the regional hospitals in Craiova, Cluj and Iasi and the reconstruction of 26 smaller hospitals and medical facilities across the country, financing for universities in Cluj-Napoca and Targu Mures, and new targeted support for improving road safety across the country. Both the universities and the road safety projects also received advisory support from the European Investment Advisory Hub.
About Antibiotice SA
Antibiotice Iasi supports the Romanian health system by providing over 150 products, and is the largest exporter in the Romanian pharmaceutical industry. Antibiotice has consolidated sales in over 60 countries worldwide and is the world leader in the production of the active substance Nystatin. Antibiotice is also internationally recognised as an important supplier of sterile injectable antibiotics to healthcare systems such as those in the United States, the United Kingdom, Canada, the Netherlands, Denmark and Vietnam.
On the local market, Antibiotice is the quantitative leader in the pharmaceutical form of sterile injectable powders and topical products, as well as in the segment of generic prescription drugs and over-the-counter medicines marketed in hospitals in Romania
In Brussels, EIB President Hoyer confirmed the EIB’s €500 million support for the Global Polio Eradication Programme and joined European Commission President Ursula von der Leyen, Bill Gates, World Health Organization Director-General Dr. Tedros Adhanom Ghebreyesus, and UNICEF Executive Director Catherine Russell to highlight the EIB’s commitment to support the global fight against polio.