Acticomp received approval for a loan at a preferential rate
The Interdepartmental Commission on Preferential Lending for Investment Projects aimed at the production of priority products approved the Acticomp to receive a loan at a preferential rate. This will allow the Company to attract preferential loan funds for the implementation of a project to organize the production of active pharmaceutical ingredients for the production of medicines in Pushkin (St. Petersburg). The bank authorized to provide a loan at a preferential rate is PJSC VTB Bank.
In February 2023, the Government of the Russian Federation approved a program for providing manufacturers of priority products with preferential loans (Resolution of the Government of the Russian Federation of February 22, 2023 No. 295 “On state support for organizations implementing investment projects aimed at producing priority products”). Subsidies are provided as part of assistance in the implementation of investment projects and support for manufacturers of high-tech products. As part of the program, banks offer loan financing at 30% of the key rate of the Central Bank of Russia, increased by 3 percentage points. The preferential loan rate is valid for the entire period of construction or investment phase of the project and another two years after its completion.
Since February 2023, Acticomp, at its site in Pushkin (St. Petersburg), has been implementing a project to organize the production of active pharmaceutical ingredients for the production of medicines, including 35 items from the list of vital and essential drugs. As part of it, the Company is launching the design and construction of several new laboratory and production facilities for the development and production of cytostatics, some intermediates, as well as the expansion of the R&D center for the development of new substances. It is also planned to reconstruct and expand by 50% the main production of Acticomp in Pushkin, including the construction of new warehouses. The project implementation period is 14 years, until 2036. The project cost is estimated at 3.6 billion rubles.
The implementation of this project corresponds to the priority of ensuring drug independence outlined in the Pharma-2030 strategy. Synthesis of our own intermediate products will reduce dependence on foreign suppliers and reduce the cost of manufactured products. The share of domestic pharmaceutical substances is expected to increase.
“Acticomp has been working in close cooperation with the Russian Ministry of Industry and Trade and uses existing preferences, including preferential lending,” emphasized Alexander Semenov, president and co-owner of the Company.