ANNOUNCEMENT 27 Mar 2019

In March 2019, the European Investment Bank (EIB) signed a loan agreement with Almirall, S.A. to support its research and development activities related to skin health care therapeutic products. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Financed Projects, SKIN HEALTH R&D: https://www.eib.org/en/projects/loan/loan/20180686
The European Investment Bank, Project summary, SKIN HEALTH R&D: https://www.eib.org/en/projects/pipelines/pipeline/20180686
Almirall, S.A.: https://www.almirall.com/en/

Inception date: 27 Mar 2019 | Removal date: open ended

State loan

On 27 March 2019, the European Investment Bank (EIB) and Almirall, S.A. signed a loan agreement having a total value of EUR 120 million (approx. USD 135 million).

The EIB loan will support the company's investments as well as research and development activities mainly related to dermatology including the "treatment of chronic immuno-inflammatory dermatological diseases, prevention and treatment of non-melanoma skin cancer, and treatment of dermatological orphan diseases".

Almirall, S.A. has its headquarters in Spain with a total of 13 affiliates across Europe and in the United States. The company operates in the pharmaceutical industry providing therapeutic products for the treatment of dermatological diseases in over 70 countries worldwide.

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

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AFFECTED PRODUCTS