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The project will finance Promoter's expenditures in Research, Development and Innovation (RDI) in its portfolio of biosimilars, generic drugs, infusion therapies, clinical nutrition products and the devices for administering these products as well as capacity expansion investments in existing facilities.
The aim is to support the promoter's RDI investments to advance its development of Pharma, Biopharma, Nutrition and MedTech products. The project also includes capital expenditure (capex).
The financing of the Project supports EU objectives of Research, Development and Innovation, as well as the strengthening of the EU's pharmaceutical manufacturing resilience.
R&D activities generate significant positive knowledge and technology externalities, through the creation of innovative processes, products and services and through skills development and upgrading. Moreover, it supports the increase of manufacturing capacity of medicinal products in the EU, including critical medicines. The EIB will support the Promoter, a pharmaceutical/ medical device and biologics manufacturer, to execute its investment programme encompassing (i) the development of a pipeline of biosimilars and generics medicines and (ii) the expansion of its manufacturing footprint in the EU.
The Promoter is a knowledge-based company developing innovative therapies and treatments for life threatening diseases addressing unmet medical needs. The company's R&D intensity is above the sector average contributing positively to the EU's 3% R&D intensity target. By supporting the Promoter, the EIB enables the generation of European scientific knowledge and acumen, whilst preserving highly skilled employment opportunities. Moreover, it contributes to the reduction of supply chain risks for medicinal products in the EU and to the improvement the access to and affordability of medicinal treatments. EIB involvement will help ensure that the important benefits of bringing novel therapies and medical devices to the patients in a timely manner.
The Bank's contribution to the Project stems from its large-scale support to the diversification of the Borrower's financing sources combined with the flexible drawdown terms and longer availability. This enables the Bank to act as an anchor investor, thereby facilitating the Project's financing and full implementation;
The project mainly concerns RDI investments (process development, clinical studies, regulatory development/production capacity, etc.) 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.
The promoter is a private company not operating in the utilities sector and not having the status of a contracting authority. Thus, it is not covered by EU directives on procurement. The EIB will require that all project contracts are procured in accordance with the applicable EU procurement legislation. Other details will be verified during the project due diligence.