EBRD Invests US$16.3M in Yuria-Pharm to boost Ukrainian pharmaceutical sector

UKRAINE—The European Bank for Reconstruction and Development (EBRD) has stepped up to support Yuria-Pharm, one of Ukraine’s top pharmaceutical manufacturers, as part of an ongoing effort to strengthen the country’s pharmaceutical sector.

 This initiative is aligned with a broader strategy to enhance the company’s competitiveness and expand its operations, particularly in Ukraine and Uzbekistan.

Yuria-Pharm is well-regarded for its extensive distribution network, selling products throughout Ukraine and exporting to over 40 countries worldwide.

The EBRD’s €15 million (approximately US$16.29 million) loan will primarily fund the group’s investment plans in Ukraine and Uzbekistan, thereby reinforcing its market position in Central Asia and laying the groundwork for future growth.

In Uzbekistan, Yuria-Pharm intends to use the EBRD financing to broaden its production facilities and boost energy efficiency by installing solar panels.

 This strategic initiative will enable the company to manufacture pharmaceuticals locally for the Uzbek market, thereby enhancing the availability and affordability of medications in the region.

Additionally, by producing locally, Yuria-Pharm can free up some of its production capacity in Ukraine, allowing it to concentrate on high-demand medicines for its domestic market.

The funds will also be used to certify Yuria-Pharm’s production facilities to meet the European Union’s Good Manufacturing Practice (GMP) standards.

This certification is vital for ensuring that the company’s products adhere to international quality benchmarks, further boosting its competitiveness in global markets.

The financing will also support the installation of solar panels, improve energy efficiency, and facilitate critical IT upgrades.

These investments will not only modernize Yuria-Pharm’s operations but also help reduce its environmental impact. 

In addition to augmenting its production capacity, Yuria-Pharm is focusing on biopharmaceutical research and development.

The company is launching an educational platform called bioGENext, designed to offer vocational training programs in pharmaceuticals and pharmaceutical marketing.

These initiatives aim to address the significant skills gaps and labor shortages exacerbated by the ongoing conflict in Ukraine.

By equipping young people in Ukraine with market-relevant training, Yuria-Pharm hopes to empower the next generation of pharmaceutical professionals.

The EBRD’s investment in Yuria-Pharm reflects its broader commitment to uplifting Ukraine’s private sector during these trying times.

Since the onset of Russia’s full-scale invasion, the EBRD has channeled over €6 billion (US$6.51 million) into Ukraine’s real economy, showcasing its steadfast support for the country’s resilience and development.

The bank’s cumulative investment in Ukraine now exceeds €22 billion (around US$23.90 billion) across more than 600 projects, solidifying its role as the largest institutional investor in the country.

In remarks about this latest investment, EBRD Managing Director for Industry, Commerce and Agribusiness, Jean-Marc Peterschmitt, emphasized the importance of backing companies like Yuria-Pharm.

Despite the ongoing challenges posed by war, Yuria-Pharm has demonstrated remarkable resilience and is actively expanding its operations.

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