Release date: 22 December 2021
Promoter – Financial Intermediary
FRESENIUS SE & CO KGAALocation
Description
The project relates to the Promoter's expenditures in Research, Development and Innovation (RDI) in its portfolio of biosimilars, generic drugs, infusion therapies and clinical nutrition products as well as the devices for administering these products.
Additionality and Impact
The promoter is a European company that specializes in lifesaving medicines and technologies for infusion, transfusion and clinical nutrition. In addition to its own RDI capabilities, it has developed a well-established network of collaborations with universities, research institutions and reputed industry partners. Companies producing innovative high-quality products are key drivers of economic growth, productivity and social protection, and generally a source of high value-added employment.
The project concerns a corporate R&D project of a company leading innovation within biosimilars, generics manufacturing, IV solutions, clinical nutrition, and medical devices. The promoter is a knowledge-based technological company focusing on developing medical devices for critical care and pharmaceuticals (biosimilars and generics) targeting unmet needs with high socio-economic impact such as oncology and autoimmune diseases. The company's R&D intensity is above sector average, which contributes positively towards the EU's 3% R&D intensity target. EIB's involvement will help to ensure that the important benefits of bringing its novel products entailed under this project to fruition in a timely manner despite the Covid-19 crisis. The products and services developed as a result of the project will improve the quality of life of patients suffering different severe and chronic conditions. Therefore the social value of the project is considered to be positive, over and above the financial return. EIB's contribution to the project stems from the combination of a financial advantage, flexible terms of the loan paired with convenient tenors, and helping to crowd-in other financiers, thereby facilitating its full financing and implementation.
Objectives
The RDI activities focus on developing life-saving and affordable medicines and technologies for infusion, transfusion and clinical nutrition.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 400 million
Total cost (Approximate amount)
EUR 804 million
Environmental aspects
The RDI activities are expected to be carried out in existing facilities that are already used for the same purposes and that are not expected to change their scope due to the project. An Environmental Impact Assessment is therefore not needed as per EIA Directive 2014/52/EU amending Directive 2011/92/EU. The full environmental details will however be investigated by the Bank's services during the project due diligence.
Procurement
The Promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.
Status
Signed - 14/12/2021
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).