RUSSIA PACKAGING
February 1st, 2004
BY KEITH NUTHALL
THE EUROPEAN Bank for Reconstruction and Development (EBRD) has drawn up plans to lend Euro 22 million to Serbia & Montenegro pharmaceutical company Hemofarm Koncern a.d. (Hemofarm) to finance the construction of a new solid forms packaging and production facility in Obninsk, Russia. Hemofarm wants to boost its Russian sales by having a local plant. The EBRD favours the scheme (the bank's second loan to Hemofarm) because it would promote foreign direct investment in "Russia's underdeveloped pharmaceuticals market."
THE EUROPEAN Bank for Reconstruction and Development (EBRD) has drawn up plans to lend Euro 22 million to Serbia & Montenegro pharmaceutical company Hemofarm Koncern a.d. (Hemofarm) to finance the construction of a new solid forms packaging and production facility in Obninsk, Russia. Hemofarm wants to boost its Russian sales by having a local plant. The EBRD favours the scheme (the bank's second loan to Hemofarm) because it would promote foreign direct investment in "Russia's underdeveloped pharmaceuticals market."
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