Summary of Proposed Investment
Project Number
11234
Company Name
Productos Gutis S.A.
Date SPI Disclosed
Apr 23, 2002
Country
Costa Rica
Industry
Health, Education and Life Sciences
Projected Board Date
May 30, 2002
Status
Completed
Sector
Other Medical
Department
Regional Industry MAS LAC & EUR
Environmental Category
B - Limited
Previous Events
Approved : Jun 24, 2002
Signed : Jan 10, 2003
Invested : Aug 9, 2004
Project Description
Gutis, a Costa Rican pharmaceutical company, was established in 1962. Gutis produces more than 300 medicines, mainly generic drugs. The project involves the relocation of its operations in to a modernized facility in the outskirts of San Jose. The project is part of Gutis''s strategy to improve sales and margins and obtain good manufacturing practice (GMP) from international regulatory agencies such as World Health Organization (WHO) and Food and Drug Administration (FDA).
IFC will play a significant role to help Gutis to expand and strengthen its operation so that it can maintain and improve its position as one of the predominant local pharmaceutical companies in Costa Rica. The Costa Rican pharmaceutical sector became more competitive with the entrance of large international pharmaceutical companies. Unlike local companies, such as Gutis, these multinationals have ample access to funds at competitive rates which provide them with a distinct advantage over Gutis. By supporting Gutis, IFC provides the long-term financing necessary for the project at a reasonable cost.
The project will further strengthen one of Costa Rica''s efficient sectors and allow a domestic company to increase exports, bringing foreign currency into the country and diversifying its industrial base.
IFC will play a significant role to help Gutis to expand and strengthen its operation so that it can maintain and improve its position as one of the predominant local pharmaceutical companies in Costa Rica. The Costa Rican pharmaceutical sector became more competitive with the entrance of large international pharmaceutical companies. Unlike local companies, such as Gutis, these multinationals have ample access to funds at competitive rates which provide them with a distinct advantage over Gutis. By supporting Gutis, IFC provides the long-term financing necessary for the project at a reasonable cost.
The project will further strengthen one of Costa Rica''s efficient sectors and allow a domestic company to increase exports, bringing foreign currency into the country and diversifying its industrial base.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Productos Gutis S.A.
Calle 28, Av. 3
Apdo: 5391-1000
San Jose, Costa Rica
Calle 28, Av. 3
Apdo: 5391-1000
San Jose, Costa Rica