Grupo Neolpharma (“Neolpharma” or “the Group”) is a family-owned pharmaceutical company primarily operating in Mexico. It offers over 250 branded and generic medicines across various therapeutic areas, including central nervous system (CNS) diseases, cardiovascular diseases, oncology, and diabetes.

In 2021, IFC financed Neolpharma’s initial expansion plan, encompassing the construction of a new injectables facility in Mexico City, the expansion of an active pharmaceutical ingredients (APIs) production plant in Ecatepec, Mexico, and other related expenditures (#39128).

IFC is now proposing a new $70 million long-term corporate loan to support Neolpharma’s further expansion plan in Mexico (“the Project”). The Project includes (i) the acquisition, refurbishment, and reactivation of the NeolSym Civac API plant in Morelos (“API Plant”); (ii) the construction of a new injectables facility in Toluca to provide drug manufacturing services for a third party (“CMO Plant”); and (iii) technological upgrades and new equipment for Neolpharma’s existing plants, including the refurbishing of corporate offices. 

Neolpharma has engaged with IFC in multiple upstream and advisory services. These include (i) the “APIs everywhere” project in FY23, aimed at promoting the production of low cost APIs in six pilot countries, including Mexico; (ii) two gender advisory projects, the first, during fiscal years 2022-23, focused on developing an internal gender action plan, and the second, currently underway, focuses on disability inclusion and safe and respectful workplaces; (iii) an assessment of the sustainability strategy and the efficient use of water and energy for the development of a roadmap; (vi) advisory to strengthen Neolpharma’s energy management systems; and (v) carbon footprint advisory, focused on advancing Neolpharma’s decarbonization and sustainability journey.