Neolpharma (IFC-39128)

Countries
  • Mexico
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 7, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
NEOLPHARMA, S.A. DE C.V.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 4, 2019

Disclosed by Bank Sep 4, 2019

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed IFC’s financing aims to support Grupo Neolpharma’s expansion plan in Mexico, which includes ramping up production capabilities and climate related projects (the “Project”).

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The total Project Cost is estimated at approximately US$100 million. The proposed IFC investment is an up to US$15 million corporate A Loan for IFC’s own account plus mobilization through Canada-IFC Blended Climate Finance Program for up to US$15 million.  

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Founded more than 31 years ago, Grupo Neolpharma (the “Company”) is a Mexico-based, family-owned, pharmaceutical company focused on the development, manufacture, distribution and sale of branded and unbranded generic medicines. Through its related companies, Neolpharma has presence in Mexico, Puerto Rico, Peru and Ecuador. It exports from Mexico to Colombia, El Salvador, Panama, Costa Rica, Guatemala, Honduras and the Dominican Republic. Neolpharma owns an active pharmaceutical ingredients (“API”) production plant, four pharmaceutical finished formulations production plants; one USFDA/EMA approved plant in Puerto Rico; two distribution companies; and a pharmacy chain in Mexico with 47 branches. It is one of the leading domestic pharmaceutical companies in Mexico, primarily focused on prescription generics, with a portfolio of over 250 products in therapeutic areas such as central nervous system, cardiovascular, oncology and diabetes. As of today, it employs approximately 2,485 full-time employees of which 49% are women.

The Ocampo family fully owns Grupo Neolpharma.  The Company was founded by Mr. Efren Ocampo, who is the main shareholder of all the companies of the Group.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Grupo Neolpharma Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works