ANNOUNCEMENT 26 Dec 2019
The National Bank for Economic and Social Development of Brazil (i.e. BNDES by its acronym in Portuguese) approved a loan of BRL 47.8 million to EMS S.A.
NUMBER OF INTERVENTIONS
BNDES News Agency. Agência BNDES de Notícias. "EMS terá R$47,8 milhões do BNDES para produzir novos remédios contra o câncer" de 26/12/2019. Available at: https://agenciadenoticias.bndes.gov.br/detalhe/noticia/EMS-tera-R$-478-milhoes-do-BNDES-para-produzir-novos-remedios-contra-o-cancer/
On 26 December 2019, the BNDES approved a BRL 47.8 million loan (circa USD 11.8 million at the time of the announcement) to EMS S.A., a company of the Brazilian pharmaceutical group Grupo NC.
The objective of the resources is to establish a productive unit of injectable oncological drugs which will allow the company to complete the development of cancer drugs.
The total costs of the projects are estimated at BRL 59.8 million (over USD 14.7 million) from which the resources provided by the BNDES represent 80% of the total.