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Richter signs €150 mln EIB credit line

Hungarian drugmaker Richter signed a contract with the European Investment Bank (EIB) on a €150 million credit line to finance research.

The credit line will be used to finance original research in 2011-2014 targeting compounds to treat diseases of the central nervous system combined with biosimilar products, Richter said.

The total amount of the credit facility is to be called down in several tranches within 18 months from the signing of the agreement.

The credit line has a nine-year term, including an initial three-year grace period.