BNDES approves loans of R$ 61.2 million to Nortec and EMS laboratories

The National Bank for Economic and Social Development (BNDES) announced on Wednesday, 29, the approval of loans of R$ 26.3 million to Nortec Química and R$ 34.9 million to EMS. In total, loans to both pharmaceutical companies total R$ 61.2 million and are added to the R$ 9 billion portfolio of health projects.

From this amount, R$ 4.2 billion is for innovation projects and expansion of the production capacity of the pharmaceutical and medical equipment and material industries. ADVERTISING

According to what the bank said on Wednesday, the Nortec loan will be targeted to the company’s innovation plan, which covers the 2018-2020 triennium.

BNDES will finance both investments in physical research and development (R&D) and product development. Investments will increase the production capacity of Nortec, whose factory is in Duque de Caxias (RJ), at about 25%.

The loan to EMS will “enable the company’s investments in the reformulation of production areas and the acquisition and installation of new equipment in its Brasilia unit,” says the BNDES note. “The pharmaceutical company predicts an increase of 82% in its production capacity of hormones and antibiotics,” says the note.

According to BNDES, EMS is the largest manufacturer of generic medication in the country.