Release date: 6 December 2021
Promoter – Financial Intermediary
ORION OYJLocation
Description
Research, development and innovation (RDI) investments in core therapeutic areas in 2021-2023.
Additionality and Impact
The promoter is a European pharmaceutical company continuously developing new drugs and treatment methods. The core therapy areas of R&D are neurological disorders, oncology and respiratory diseases for which Orion develops inhaled pulmonary medication. In addition to its own RDI capabilities, the promoter has developed a well-established network of collaborations with universities, research institutions and reputed industry partners. Companies producing innovative high-quality products are key drivers of economic growth, productivity and social protection, and generally a source of high value-added employment. By financing the project, EIB supports Orion's high quality R&D activities, and thus contributing to Europe's industrial competitiveness and economic growth. Orion's commitment to R&D will help to maintain highly skilled staff engaged in R&D activities in Europe.
The EIB support to this operation is expected to provide tangible value-added benefit, positively contributing to the promoter's R&D investments by lowering the associated cost of financing and offering loan maturity beyond the tenor usually offered by commercial banks.
Objectives
The project supports the Promoter's investments in pharmaceutical research and development (R&D). The investments are expected to facilitate the development of innovative medicinal products, whilst enabling the Promoter's competitiveness and growth.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
EUR 434 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. However, the Promoter's procurement procedures are expected to be in line with EIB guidelines for private sector projects. The Bank's services will verify details during the project due diligence.
Status
Signed - 2/12/2021
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).