Mega Pharma Holding Uruguay S.A.
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Lopez Coronado, Gustavo
USD $ 30,000,000
USD $ 70,000,000
Project scope and objective
The use of proceeds of the transaction will be for regional use, and will be deployed to 14 projects across eight countries in the region. The investment plan includes investments to implement and support pharmaceutical manufacturing best practices, the construction of a new antibiotics plant, and the construction of distribution and logistics centers, among others. The transaction will be structured as a senior loan with a tenor of 10 years, including a two-year grace period on the principal. The transaction will also involve technical assistance on gender, diversity, and inclusion, and corporate governance and environmental and social action plans.
The majority of the projects are related to supporting and implementing continuous improvements in pharmaceutical manufacturing processes in the region: (i) Good Laboratory Practices (GLP); and (ii) Good Manufacturing Practices (GMP), which are necessary to comply with local and international legislation (for exports). These practices have positive effects for the majority of Grupo Megalabs’ processes and activities, including manufacturing, logistics, storage, quality control, and safety processes, among others. The impacts of this development include: (i) helping to expand the added value chain of the industry; (ii) promoting innovation through the development of new products; (iii) increasing exports; and (iv) contributing to job creation.
Grupo Megalabs (“Megalabs”) is a conglomerate of companies in the pharmaceutical sector specialized in the production and distribution of a wide range of medications. Megalabs has a diversified product portfolio, and operates in both the manufacturing and distribution segments across 18 countries in Latin America and the Caribbean. Grupo Megalabs employs over 7,300 people in the region.
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