Summary sheet
The Project will support the Research & Development activities of an EU-based promoter in its pharmaceutical business, focusing on its product pipeline targeting unmet medical needs. In particular, investments will pertain to the therapeutic areas of oncology care, cardiology, women's health, radiology and ophthalmology, with additional activities in cross-disease research platforms and other R&D-related work.
The project aims to strengthen the promoter's competitive position in high value-added pharmaceutical products by investing in R&D activities targeting unmet medical needs.
The operation supports a corporate research, development and innovation (RDI) programme by a leading pharmaceutical company targeting unmet medical needs. The Project addresses a market failure affecting pharmaceutical RDI, whereby long development timelines, scientific uncertainty and substantial upfront investment, combined with information asymmetries and misaligned incentives, may lead to sub-optimal investment outcomes despite strong societal benefits. The EIB intervention supports EU and EIB policy objectives in line with Horizon Europe priorities. The Project finances pharmaceutical RDI activities in therapeutic areas of major public health relevance, contributing to improved patient outcomes and long-term health benefits. By advancing therapeutic innovation, the Project generates positive knowledge externalities, strengthens scientific and clinical capabilities and supports highly skilled employment within the European life-sciences ecosystem. The Bank's contribution to the Project is underpinned by a combination of advantageous terms, a meaningful loan amount as well as a signalling effect in terms of confidence in the business model, thereby facilitating the project's financing and full implementation.
The RDI activities are expected to be carried out in existing facilities that are already used for the same purposes and that are not expected to change their scope due to the project. An Environmental Impact Assessment is therefore not needed as per EIA Directive 2014/52/EU amending Directive 2011/92/EU. The environmental aspects will be further investigated and confirmed during appraisal.
The promoter is a private company, not operating in the utilities sector and does not have the status of a contracting authority; therefore, it is not subject to EU Directives on procurement. Nevertheless, the promoter's procurement procedures are expected to align with EIB guidelines for private sector projects, and the EIB will verify compliance during project due diligence.