Romania’s largest financial group, Banca Transilvania (BVB: TLV), signed with state-controlled drug producer Antibiotice Iași (BVB: ATB) to provide a financing package worth EUR 67 million targeting two major industrial expansion and modernisation projects.

These include the development of production capacities for sterile products, solutions, and topicals, as well as the operationalisation of the INOVA a+ research and development centre alongside a new unit dedicated to critical medicines.

The European Investment Bank – EIB is also involved in INOVA with financial and advisory support. From the bank's perspective, the relevance of this financing goes beyond the scope of a simple commercial investment, as it targets strategic objectives for national and European security, according to a statement from the credit institution, Economedia.ro reported.

By expanding the production lines in Iași, the aim is to cover deficient niches in hospitals, diversify the portfolio of essential medicines, and increase the resilience of the healthcare system.

Moreover, "investments in the INOVA a+ centre will stimulate the domestic production of critical medicines, reducing dependence on external supply chains and aligning Romania with European Union directives on strategic autonomy in the health sector."

iulian@romania-insider.com

(Photo source: press release)