Original disclosure @ IFC website
Updated in EWS Sep 19, 2022
Disclosed by Bank Sep 12, 2022
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The proposed investment consists of $100 million loan to Laboratórios Eurofarma S.A. (“Eurofarma” or the “Company”), which is focused on the development, manufacturing, and commercialization of pharmaceutical products for human and animal use. The Company is the main operating entity of Grupo Eurofarma, a leading pharmaceutical group in Brazil. Eurofarma is headquartered in Sao Paulo, where it also has 3 manufacturing facilities, 2 distribution centers and one research and development facility. Additionally, the Group has 7 manufacturing plants located in Latin America (in Argentina, Chile, Colombia, Peru, Uruguay, and Guatemala). The investment is to support Eurofarma; i) to fund construction of a greenfield pharmaceutical manufacturing plant in Montes Claros, Brazil to produce oral solids and antibiotics; and (ii) increase manufacturing capacity related to fill and finish capacity for the production of the Pfizer COVID-19 vaccine in Brazil. The Montes Claros facility is currently under construction and occupies an area of 20.5 ha and located within an area zoned industrial within the Montes Claros municipality. The facility is expected to commence operations in January 2024.
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