Siegfried is a fully-owned subsidiary of Laboratórios Roemmers. Privately-owned Roemmers is the largest player in the Argentinian pharmaceutical market and the 5th largest player in LAC (behind global players Sanofi, Bayer, Novartis and Pfizer). Founded in 1921, Roemmers engages in the development, production, and marketing of pharmaceutical products and counts with diversified medical specialties in its products’ portfolio.  Roemmers is focused mainly on the production of prescription drugs. Roemmers has a vast knowledge and experience in the sector, having successfully acquired and invested in multiple Latin American countries (Argentina, Brazil, Mexico, Peru, Ecuador, Colombia, Paraguay, Chile and Uruguay).

 The total Project Cost is estimated at approximately US$200 million.  The proposed IFC investment is an up to US$60 million corporate A Loan for IFC’s own account plus mobilization of up to US$120 million.                                                

 The expenditures to be funded through the Project will be for expansion in Mexico and Central America.

   This is a category B project according to IFC’s Policy on Environmental and Social Sustainability because a limited number of specific environmental and social (E&S) impacts may result that can be avoided or mitigated by adhering to generally recognized good international industry practices. 

Key E&S issues associated with this project include company’s capacity and systems to manage social, and EHS aspects of its operations in compliance with legal requirements as well as IFC PSs and WBG EHS Guidelines; assurance of fair, safe and healthy working conditions as per the local regulatory requirements and relevant IFC PSs; management of wastes (particularly hazardous and biomedical waste), air emissions and liquid effluents; emergency preparedness and response and community health, safety & security.. Other E&S issues include emergency preparedness and response; and road safety provisions for the sales workforce.