YEREVAN, September 14. /ARKA/. VTB Bank (Armenia) has lent about $5 million to Amicus company, the bank’s press office reported on Friday. The company imports and distributes drugs and produces medical supplies and medicines from herbs.
The company runs a chain of pharmacies trading as Amicus and possesses a printing office furnished with modern equipment of Germany’s Heidelberg company.
Amicus will spend the loan extended by VTB Bank (Armenia) on replenishing its funds. This will enable the company to strengthen and develop its long-term cooperation with foreign suppliers and provide the Armenian market with high-quality pharmaceutical products.
“There are all grounds to reckon contemporary pharmaceutics among high-tech science-intensive sectors of the economy,” said Yuri Gusev, acting CEO of VTB Bank (Armenia). “We attach great importance to development of those companies successfully working in this area.”
He expressed hope that this financing would give a new impetus to development of pharmaceutical industry in Armenia and that favorable environment would be created in the country for producing and importing high-quality, safe and available medicines and medical supplies.
“Now we are also considering an opportunity to extend another loan to the company for purchasing new drug-producing equipment,” Gusev added.
Vard Nazeyan, head of Amicus, on his side, said that Amicus pharmacies chain is one of leaders at the domestic pharmaceutical marker.
“We offer high-quality products of world leading companies,” he said. “Our clients’ confidence is the best guarantee of out success. The financing received from VTB Bank (Armenia) will enable us to strengthen our position and ensure further development to our company. We are glad to cooperate and we hope for continuation of our cooperation.”
VTB Bank Armenia joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). VTB Bank (Armenia) has 69 branches all over Armenia’s territory. This is the largest branch network in the country. VTB Bank (Armenia) is traditionally reckoned among leaders for general indicators. -0-