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Arab Finance: Minapharm Pharmaceuticals' board of directors has discussed the terms and conditions of a loan worth €13.25 million from the European Bank for Reconstruction and Development (EBRD), according to a disclosure to the Egyptian Exchange (EGX).
The company aims to use the potential loan to refinance part of its short- and medium-term borrowings, as well as to fund capital expenditures and product development at its new production facility.
The financing will also partially support the development of a new vocational training academy.
Established in 1958, the company produces licensed and generic pharmaceuticals, vaccines, veterinary products, drug delivery systems, cosmetics, and skin care supplies. The company's expertise covers a broad spectrum of medicines, ranging from small molecules to extremely complex bioengineered proteins.
