Pharmaceutical Company Gets $14 Million Loan

BID Invest granted Calox de Costa Rica S.A. a loan that will help the company invest in substantial improvements in its production capacity and seek international certifications to validate the quality of its products.

Friday, June 18, 2021

The project has two main objectives. The first is to acquire the existing plant to make improvements in infrastructure and energy efficiency in order to become certified and expand its production capacity in the medium term. The second objective is to provide medium-term financing for working capital, reported IDB Invest, a member of the BID Group.

See "Medicines: Purchases Exceed $3.5 Billion"

This will allow Calox to boost the expansion of medicines under its own brand, expand into the South American market, meet additional needs resulting from the crisis caused by the pandemic generated by Covid19 and continue with the Research and Development (R&D) of new products, highlights the statement that was published on June 18, 2021.

On the other hand, IDB Invest will also provide technical advisory services to Calox in order to develop a sustainability strategy to better identify, manage and measure its environmental, social and gender (ESG) practices throughout its operations, the statement said.

According to the document, a materiality analysis will result in a sustainability strategy with clear metrics and guidelines to promote the integration of small and medium-sized companies with sustainable practices as suppliers and distributors. A comprehensive Corporate Governance program will also be implemented.

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