(BRIEF) The European Investment Bank (EIB) and Romania’s leading pharmaceutical manufacturer, Antibiotice, have joined forces to help the production of medicines in Romania. Through a loan agreement of €25 million, the EIB will finance the structure of a fashion production. Packaging and garage facility at Antibiotice’s facilities in Iasi. This initiative aims to expand production lines, promote digitalization and progression studies and functions in the pharmaceutical sector. The task aligns with the EU Pharmaceutical Strategy and the Commission’s efforts to tackle shortages of medicines while ensuring the competitiveness and safety of origin of the European pharmaceutical industry. In addition, the collaboration will create around one hundred full-time jobs over 4 years, helping studies and progression in the region and contributing to the wider European healthcare landscape.
(PRESS RELEASE) LUXEMBOURG, November 11, 2023 — /EuropaWire/ — The European Investment Bank (EIB) and Antibiotice, Romania’s leading pharmaceutical manufacturer, have joined forces to boost drug production in Romania. The €25 million loan agreement will help finance the structure of a production, packaging and garage facility at Antibiotice’s headquarters in Iasi, which will facilitate the progression of new production lines, digitalisation, studies and progression capabilities. The EIB loan represents a quarter of the overall investment burden of €95. 4 million.
This agreement was made possible thanks to the support of the InvestEU programme, which aims to generate more than €372 billion in additional investments over the period 2021-2027.
This partnership marks a vital milestone for the fitness sector in Romania, as it is the first InvestEU operation approved in Romania, following the Investment Committee’s resolution in October. It reinforces the objectives of the EU Pharmaceutical Strategy and the Commission’s Communication on how to address the shortage of medicines in Romania. the EU, which aims to address medicines shortages and security of source in the EU.
The mission supports the creation of a complex pharmaceutical production capacity in a cohesive region of Romania. By reducing dependence on imports and selling the accessibility of healthcare across the European Union, the initiative strengthens the competitiveness and resilience of the European pharmaceutical industry and underlines the central role of complex production functions in support of the EU’s strategic autonomy in healthcare.
Supporting the company’s research and progression team to create new drugs and production processes will result in the hiring of approximately one hundred full-time workers for studies and production over a four-year period. Antibiotice SA works intensively with universities and study institutes, providing additional support to the labour market for highly qualified people.
EIB Vice-President Teresa Czerwińska said: “This collaboration demonstrates our commitment to fostering innovation, creating jobs and promoting fitness responses in Romania. The EIB allows Antibiotice SA to expand its studies and production capacities, thus contributing to the well-being of the European population and expanding the R
European Commissioner for Economic Affairs Paolo Gentiloni said: “The COVID-19 pandemic has highlighted the importance of strengthening the capacity of Europe’s medical production trade base. I am very pleased that InvestEU is playing a role in offering the mandatory investment to ensure that the European healthcare sector remains competitive and innovative, while meeting the wishes of patients and those of our healthcare systems. This mission in Romania will boost antibiotic production, benefit the local economy and create high-quality jobs.
“This partnership with the European Investment Bank consolidates ‘The Future Together 2030’, our business plan and the company’s ability to meet the wants and needs of the European pharmaceutical market. We are investing in research, generation movement and new production sites to generate added prices in the pharmaceutical industry and in the company’s economic and monetary signs until 2030,” said Ioan Nani, CEO of Antibiotice SA.
The partnership between the EIB and Antibiotice SA is a step towards building a self-sufficient and competitive pharmaceutical industry in Romania. By investing in local talent, promoting innovation and accessibility to healthcare, this initiative lays the foundation for a healthier future for Romania and the European Union as a whole.
https://health. ec. europa. eu/system/files/2021-02/pharma-strategy_report_en_0. pdf
Background information
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. After the outbreak of COVID-19 in 2020, the EU bank significantly increased its support for healthcare in Romania by providing €1.1 billion to help finance three regional hospitals and renovate 26 smaller hospitals and medical facilities across the country. The EIB has worked in Romania since the early 1990s, improving regional cohesion, infrastructure and healthcare services, and supporting small and medium-sized enterprises through 180 projects worth €17.78 billion.
About InvestEU
The InvestEU programme provides the European Union with a very significant long-term investment by mobilising a significant personal and public budget for a sustainable recovery. It is also helping to mobilise personal investment for EU policy priorities such as the European Green Deal and the virtual transition. The InvestEU programme brings together under one roof the multitude of EU monetary tools recently available for investing in the European Union, making the financing of investment projects in Europe simpler, more efficient and more flexible. The programme contains 3 components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through monetary partners who will invest in projects using the EU’s €26. 2 billion budget. The full budget will guarantee the investment projects of the implementing partners, increasing their risk. carrying capacity and thus mobilise at least €372 billion of additional investments.
About the SA Antibiotic
Founded in 1955, Antibiotice SA has a nearly 70-year culture in the manufacture of finished pharmaceuticals and active pharmaceutical ingredients (APIs). Today, the company is a world leader in the manufacture of Nystatin API and the leading Romanian manufacturer of generics. medicines, having strong advertising alliances developed with entities abroad.
Expansion into overseas markets has been driven through significant investments and a corporate commitment to foreign quality standards, such as EU-GMP, CoS, and US-FDA. The company has developed strong global business partnerships and remains focused on its continued expansion through the new business plan “The Future Together” designed to drive investments supported through the existing agreement. In addition, Antibiotice SA’s investment plan is in line with the regional specialization strategy (RIS 3 Northeast) and contributes particularly to the progress of the north. The multidisciplinary team of specialists constantly focuses on maximum functionality through the educational systems provided within the framework of the Academy, in cooperation with the corresponding universities, as well as with modern systems of motivational culture and organization.
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SOURCE: European Investment Bank
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