ROMANIA –The European Bank for Reconstruction and Development (EBRD) is lending €12.5 million (US$12.7 million) to Dona Group, one of Romania’s biggest vertically integrated pharmaceutical entities, to support its plans to expand and upgrade its services.
The funding will support Dona finance its 2021-2023 capex plan which foresees the opening of about 48 new pharmacies by the end of 2023 and refurbishment of existing pharmacy stores, the EBRD said in a statement.
It will also support the further development of DONA Group’s wholesale business through the purchase of equipment required by the recent extension of its warehouse network as well as the in-house operation of the transport services through the development of its own transport company, Dona Cargo.
Dona plans to invest a total of €17.9 million (US$18.2 million) on improvements within the plan, the EBRD said.
The project will also introduce a new training program aimed at improving skills for up to 240 people in partnership with local vocational schools or universities, the statement read.
Among other features, the project will introduce a new, replicable and internally accredited training program improving skills for up to 240 people in partnership with local vocational schools or universities.
The investment is aligned with the priorities set by the Romania Country Strategy (2020-2025), which includes a priority to support productivity through corporate expansion, innovation and skills upgrade, which is also specified through the objective of expansion of competitive companies and SMEs.
The EBRD is a major institutional investor in Romania. To date it has invested nearly €1 billion (US$1 billion) in 488 projects.
The funding will support Dona finance its 2021-2023 capex plan which foresees the opening of about 48 new pharmacies by the end of 2023 and refurbishment of existing pharmacy stores, the EBRD said in a statement.
Elsewhere, the European Investment Bank (EIB) is providing Laboratorios Farmacéuticos Rovi (ROVI) with a new €50 million (US$50.8 million) loan to finance its RD&I activities for new developments in the ISM prolonged drug-release technology, patented by ROVI.
The funding will be used in fields such as oncology and the central nervous system, as well as the development and expansion of product applications in the glycomics field.
The agreement was signed in Madrid by Ricardo Mourinho Félix, European Investment Bank Vice-President, and the Chairman and CEO of ROVI, Juan López-Belmonte Encina.
ROVI is a Spanish company specialized in researching, developing and marketing proprietary pharmaceuticals.
It is currently participating in the manufacture of the active substance, as well as the fill & finish for the Moderna COVID-19 vaccine.
ROVI is specialized in the manufacture of low-molecular-weight heparins (LMWHs), which the WHO recommends as essential medicines for patients hospitalized in intensive care units due to COVID-19.
The EIB loan is projected to accelerate ROVI’s RD&I strategy by supporting the investments of this highly innovative company.
The financing will generate considerable positive externalities for the European pharmaceutical industry, contributing to the EU efforts to cover unmet health needs and secure qualified jobs.
ROVI has been working with the EIB since 2017. Prior to this newly signed loan, the EIB had granted a €45 million (US$45.8 million) loan to ROVI to finance its RD&I program focusing on technologies for the administration and extended release of medication related to treatments to fight cancer and nervous system diseases.
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