Neolpharma to Expand Drug Production in Mexico
The International Finance Corporation (IFC), a member of the World Bank Group, will provide financing to Neolpharma to expand its pharmaceutical manufacturing capacity in Mexico, through projects aimed at increasing local production of active pharmaceutical ingredients and injectable medications, as well as creating approximately 600 skilled jobs once the new operations reach full capacity.
Neolpharma’s capacity expansion is expected to increase domestic production and strengthen the security of supply in the energy sector linked to the healthcare system. “This investment represents a decisive step toward strengthening Mexico’s pharmaceutical capacity and expanding the population’s access to affordable, high-quality medicines,” said Astrea Ocampo, CEO of the Neolpharma Group.
He also added that the company hopes to continue investing in innovation, local manufacturing, and specialized talent.
Meanwhile, Saana Abouzaid, IFC’s regional director for Mexico, Central America, and the Dominican Republic, explained that strengthening local pharmaceutical manufacturing is essential to improving access to medicines and bolstering the resilience of supply chains, noting also that the project will help drive innovation, competitiveness, and economic growth in Mexico.
It is important to note that the transaction includes a mechanism that links the terms of the loan to the employment of people with disabilities. Neolpharma could qualify for a reduction in the financing spread if it meets the agreed-upon targets for professional training and employment opportunities for this group. This is the IFC’s first investment worldwide to incorporate a performance indicator of this kind.
The new injectable drug plant plans to seek EDGE Advanced certification and implement energy- and water-efficiency measures. With Neolpharma’s expansion, Mexico will add industrial capacity to the sector where domestic production is growing, helping to reduce reliance on foreign sources and strengthening the pharmaceutical supply chain to expand opportunities for specialized manufacturing talent.
