Loading…
Loading…
FRP is Russia's principal state industrial-finance vehicle, extending concessional loans (3-5% annual interest, up to 7-year terms) to domestic manufacturers under an explicit import-substitution mandate. The RUB 950 million loan to Nanolek funded high-tech equipment for a full-cycle HPV vaccine production line — from antigen synthesis through finished dosage form — at a new biopharmaceutical complex in Kirov Region. The plant produces "Tsegardeks," Russia's first domestically developed HPV vaccine (registered by the Ministry of Health in March 2025 for adults 18-45, extended to children 9-17 in January 2026), displacing reliance on Western HPV vaccines (e.g. Gardasil) that exited the Russian market after 2022. The loan sits within the same FRP financing channel this register already tracks for other 2025 disbursements (RUB 2.4bn to Petrozavodskmash foundry, RUB 966m and RUB 1.8bn fund-level reserve top-ups), reflecting a sustained pattern of state-directed concessional credit substituting for departed Western suppliers across unrelated sectors (heavy engineering, pharmaceuticals).
(Gardasil/Gardasil 9) that withdrew from the Russian market, reducing Russia's public-health dependence on Western pharma supply chains.
3-3.5 million doses/year, potentially enabling export as well as full domestic substitution — Nanolek has separately flagged export ambitions from 2027.
a sector distinct from the heavy-industry/engine-component loans this register has tracked to date, indicating the fund's import-substitution mandate spans well beyond materials/engineering.
(FRP's standard 3-5%/7-year terms are typical but unconfirmed for this disbursement).
markets only or extend to broader emerging-market tenders currently served by Western or Indian vaccine manufacturers.