IDB Invest and Procaps support the development and sustainability of the pharmaceutical sector in Colombia
IDB Invest, a member of the IDB Group, has provided a senior loan of up to $20 million to Procaps S.A. to support the expansion plan of the Colombian pharmaceutical company. The loan will be used to increase the supply of quality pharmaceutical products, support innovation and dissemination of knowledge, increase its product offering and strengthen its value chain.
IDB Invest’s loan will be used to increase the supply of quality pharmaceutical products, support innovation and dissemination of knowledge, increase its product offering and strengthen its value chain.
Procaps annually makes significant investments in Research and Development (R&D) to devise new technologies for the supply of medicine. The project is expected to support these efforts by expanding its investment in R&D. Likewise, it is projected that for the 2020-2023 period, Procaps will launch more than 100 new products on the market.
The loan will also serve to support Procaps' cash cycles that contribute to providing additional resources to continue investing in R&D and capital investments, both regulatory and expansionary.
Procaps boosted its offering of medicines related to the treatment of COVID-19, thus helping to reduce the health and economic effects caused by the pandemic, bringing more medicines to more patients and families.
The project is aligned with IDB Invest's efforts in the face of COVID-19 by increasing the supply of quality medicines and pharmaceutical products, including the commercialization of medicines related to the treatment of the pandemic.
The operation potentially contributes to four of the United Nations Sustainable Development Goals: Good Health and Well-being (SDG 3), Decent Work and Economic Growth (SDG 8), Responsible Consumption and Production (SDG 12) and Partnerships for the Goals. (SDG 17).
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. With a portfolio of $13.1 billion in asset management and 385 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.
PROCAPS is a pharmaceutical company with more than 40 years of experience in the development of differentiated medicines and pharmaceutical solutions, which comply with the highest international standards and contribute to the improvement of health in the more than 50 countries in the world to which they reach Your medicines. It has a direct presence in 13 Latin American countries, has more than 5,000 employees, and production plants in Colombia, El Salvador and Brazil, producing more than 13 billion Soft Gelatin Capsules -CGB- per year, being one of the largest manufacturers of CGB in the world's emerging markets and the fourth largest producer.