Pliva Research Facility

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 12351

Status Complete

Location

Croatia

Business Sector

Manufacturing and Services

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 12351

Status Complete

Location

Croatia

Business Sector

Manufacturing and Services

Notice Type

Private

Environmental Category

Approval Date

19 Sep 2000

Disclosure date

16 Aug 2000

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

This loan will facilitate the construction of Pliva d.d.’s new state-of-the-art research institute in Zagreb for the development of new pharmaceutical substances.

The project will significantly enhance Pliva's ability to develop new substances and expand its generic pharmaceuticals portfolio. A strong product line is the cornerstone of Pliva’s business strategy for the period following the expiry of the company's azithromycin patent in the US.

Transition Impact

The project will strengthen Pliva's research and development capacity, particularly in the field of macrolides, and will assist the company in becoming an important regional player in the pharmaceutical industry.

The Client

Pliva d.d. is the largest pharmaceutical company in central and eastern Europe with 1999 sales of approximately US$ 586 million (€614 million) and a market capitalisation of US$ 1.1 billion (€1.2 billion). The company’s core business includes a wide range of human and animal medicines and fine chemicals (bulk substances).

EBRD Finance

The Bank will co-underwrite, alongside IFC, a US$75 million (€82 million) 7-year unsecured loan. The Bank's exposure will be US$37.5 million (€40.6 million) of which up to US$12.5 million (€13.5 million) may be syndicated to commercial banks.

Project Cost

The total project cost is US$113 million (€123 million).

Environmental Impact

The project was screened as B/0 requiring an environmental analysis. Pliva performed very well from the environmental perspective on the Bank's first financing. The company is progressively implementing the Environmental Action Plan developed in 1995; the most recent update on its implementation was sent to the Bank in February 2000. An audit of the new Azithromycin plant (financed from the EBRD's first loan) carried out by the US Food and Drug Administration (FDA) in October 1999 confirmed compliance with US good manufacturing practices. Pfizer's own environmental audit of the new Azithromycin plant carried out in December 1999 confirmed that environmental, health and safety considerations were included in the design of the facility.

IFC and EBRD carried an environmental analysis of the new research facility. The analysis confirmed that the project will be constructed in accordance with best international practice; environmental impacts are minimal and mitigation measures in accordance with national and EU standards.

Technical Cooperation

None.

Transition impact

ETI Score:75

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

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Tel: +44 20 7338 7168
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Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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