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”).
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.
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.
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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/