Company name
Específicos Stendhal S.A. de C.V. (“Stendhal”), Farmacéuticos Maypo S.A. (“Maypo”), and Stendhal Internacional S.A. de C.V. (“StInt”)
Project number
ME4032A-01
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Mexico
Sector
Social Infrastructure
Status
Completed
Disclosed date
11/01/2013
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
12/03/2013
Approval date
12/12/2013
Signed date
03/26/2014
Sponsoring entity
Grupo Arfeldt S.A. de C.V.
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 6,193,000
Financing amount
USD $ 6,228,470
Currency
MXN
Project scope and objective
The aim of this IIC operation is to provide Stendhal with a loan to partially finance the expansion of its portfolio of products sold in Mexico and other Latin American countries.
Stendhal, Maypo, and StInt are subsidiaries of Grupo Arfeldt S.A. de C.V., a holding company. The group’s companies are engaged in the production, distribution, logistics, and marketing of pharmaceuticals in Latin America. Grupo Arfeldt comprises 11 subsidiary companies with direct business operations in eight countries, distribution centers in Mexico City and Panama City, and a manufacturing center in the State of Mexico.
Founded in 1974, Stendhal is a Mexican pharmaceutical laboratory that produces, imports, and markets specialized medications. In 2010, it received a transparency award from the Mexican pharmaceutical industry’s Council of Ethics and Transparency (CETIFARMA) in recognition of its good health promotion and transparent business practices. In January 2012, it was recognized by Mexico’s Confederation of Industrial Chamber (CONCAMIN) with an award for exemplifying pharmaceutical industry ethics and values. This award is bestowed on companies that conduct their business in accordance with values-based business models and develop in-house and community corporate social responsibility programs.
Established in 1993, Maypo is a distributor of specialized medications. It sells pharmaceutical products to the public sector in Mexico, including those produced and imported by Stendhal.
StInt is a holding company that consolidates the operations of Grupo Arfeldt in a number of countries in Latin America, including Colombia, Costa Rica, El Salvador, Guatemala, Panama, and Venezuela.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
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Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
ENVIRONMENTAL AND SOCIAL REVIEW
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