Investment Projects

Development and production of human vaccines according to GMP standards

  • Indicator Results
  • Investment amount, thousand US dollars 4 728
  • NPV of the Project thousand, US dollars 36 602
  • IRR, % 53
  • IBITDA yield, %
  • Payback period, years 3,4
  • Discounted payback period, years - -


When reaching the design capacity from the IV quarter. In 2025, the following production volumes are planned: vaccine for the prevention of rabies - from 240 thousand doses per year; vaccine for the prevention of tick-borne encephalitis - from 870 thousand doses per year; vaccine for the prevention of hepatitis A - from 870 thousand doses per year; immunoglobulin for the prevention and treatment of tick-borne encephalitis - from 60 thousand doses per year; immunoglobulin from horse blood serum for the prevention and treatment of rabies - from 180 thousand doses per year.


This investment project (the "Project") plans to build a plant for the development and production of human vaccines and immunoglobulins according to gMp (Good Manufacturing Practice) standards.

The Project involves the construction of a plant with a total area of ​​about 5,300 sq. m on its own land area of ​​64 acres. There are already 3 buildings of the Company on this land plot: an office, a production unit and an educational and testing center with a nursery for breeding and keeping laboratory animals for scientific and experimental work.


LLP Research and Production Enterprise "Antigen" is a manufacturer of biological and medicinal veterinary drugs.

The company annually produces 30-50 million doses of preventive drugs and 20-30 million diagnostic tests, which are partially exported to Kyrgyzstan, Uzbekistan, Turkmenistan, Tajikistan, Azerbaijan, Armenia and Georgia.


  • Sales expansion. The initiator plans to conclude a long-term contract for the supply of medical devices with SK-Pharmacy LLP as part of a program to support domestic manufacturers, and also, over time, to arrange the export of products to neighboring countries.
What is the attraction of the project?
  • Compliance with world standards. The Company's products will comply with world GMP standards, it is planned to introduce modern control methods using reference strains of the World Health Organization (WHO).
  • Experience of the Initiator. The company has an extensive intellectual and material base, has a staff of highly qualified specialists. At the moment, the Company is already selling part of its products for export to the countries of Central Asia, Azerbaijan, Armenia and Georgia.
Investment proposal

The Project implementation requires financing in the amount of USD 4,728 thousand, including:
  • 70% (USD 3,310 thousand) - debt financing (subject to collateral);
  • from 30% (1,419 thousand US dollars) - investor participation.
The proposed financing structure and state support measures are indicative, the final financing structure and the stake in the Project will be determined based on the results of joint negotiations with the investor.

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