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    Reference: 20200571
    Release date: 1 July 2021

    Promoter – Financial Intermediary

    ZAKLADY FARMACEUTYCZNE POLPHARMA SA

    Location

    Description

    The project supports the Promoter's research and development (R&D) investments in several therapeutic areas, including cardio, diabetes, ophthalmic and respiratory diseases, over the period 2021-2023.

    Additionality and Impact

    The financing of this project supports R&D activities, which generate significant positive knowledge and technology externalities, through the creation of innovative processes, products and services and through skills development and upgrading. The EIB provides the company access to long-term financing combined with flexible drawdown conditions, which better mirrors the time horizon and inherently higher level of uncertainty of R&D activities. Moreover, the EIB loan is an important signal towards the company's current commercial financing partners, particularly in the context of the pending COVID-19 crisis, and therefore may result in the promoter's better access to long-term financing.
    Furthermore by supporting a European company operating partially in a cohesion area of Poland, the project addresses the needs of a locally underserved population and through the development of innovative medicinal products it also makes a significant contribution to the health and well-being of the European population. By supporting Polpharma, the EIB enables the generation of European scientific knowledge and acumen, whilst preserving highly skilled employment opportunities.

    Objectives

    The investments cover the R&D costs related to the development of the company's product pipeline. By co-investing in this project, the Bank contributes to making treatments available for diseases that are a high priority for the healthcare system whilst also fostering sustainable growth and employment.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    PLN 300 million (EUR 66 million)

    Total cost (Approximate amount)

    PLN 661 million (EUR 146 million)

    Environmental aspects

    The project mainly concerns investments in R&D that are expected to be carried out in existing facilities already authorised for the same purpose and would therefore not require an environmental impact assessment (EIA) under the Directive 2014/52/EU amending the EIA Directive 2011/92/EU. Full environmental details will be verified during the appraisal.

    Procurement

    The Promoter is a private company not operating in the utilities sector and not having the status of a contracting authority. Thus, the project is not covered by the EU Directives on procurement. The Promoter's procurement procedures will be in line with current practice in private industry. The Bank's services will verify details during the project due diligence.

    Status

    Signed - 29/06/2021

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Poland Industry