Project number:


Business sector:

Manufacturing and Services

Notice type:


Environmental category:


Approval date:

22 Jul 2008



PSD disclosed:

19 Jun 2008

Project Description

The EBRD is considering an acquisition of a minority equity interest in NPO Petrovax Pharm LLC, a niche pharmaceutical company organized under the laws of Russian Federation.

The proceeds from the transaction will be used primarily in connection with (i) construction of an additional production line at the company's facility in Podolsk; (ii) research, development and commercialization of new products; and (iii) enhancement of the company's organizational structure and corporate governance standards.

Transition Impact

The transition impact in this Transaction will be achieved through:

  • Introduction of new products and technology – a portion of the transaction proceeds will be used to commercialize new pharmaceutical products currently in various stages of development.
  • Improvement of corporate governance standards – the Bank’s investment will support the company in its post-transaction corporate governance improvement strategy. The goals of this strategy will include bringing international corporate governance practices to the company.


The Client

NPO Petrovax Pharm is a niche pharmaceutical company involved in development and production of branded drugs and vaccines. The company’s main activities include development, registration, production and distribution of patented scientific inventions, primarily in the fields of immunology and viral diseases.

EBRD Finance

Up to RUB 664.2 million.

Project Cost

Up to RUB 664.2 million.

Environmental Impact

The proposed project has been screened C/1. A range of environmental, health and safety audits and assessments have been undertaken as part of the Bank's due diligence. In December 2006, an environmental and social audit was conducted by independent consultants as part of the Bank's monitoring programme. Along with a series of environmental reports from the Company, the Bank's Environmental Specialist also visited the plant. All of the reports received, including the site visits, confirm that there are few, if any EHS risks associated with operation of the Company’s pharmaceutical plant in Podolsk. The plant has been built to a high standard and is operated in accordance with applicable national environmental, health and safety requirements, with GMP standards and in line with best international practice. An environmental action plan (EAP) has been developed and is being implemented in accordance with the Bank's requirements. The new production line to be financed with the Bank’s equity will have no significant adverse environmental impacts and will be constructed and operated to EU and best international standards.

Technical Cooperation


Company Contact

NPO Petrovax Pharm
Mr. Arkadiy V. Nekrasov, General Director

Tel: +7 (495) 984-2754
Fax: +7 (495) 984-2753



Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

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

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