Published on 04/14/2021 at 6:11 p.m.
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(AOF) – AB Science has obtained the agreement of Société Générale, Bpifrance and Banque Populaire for a financing of a total amount of 6 million euros in the form of a loan guaranteed by the State (PGE), in the context of the COVID-19 pandemic. “This non-dilutive loan follows the capital increases carried out at the end of last year and allows us to strengthen our cash position,” said Alain Moussy, co-founder and CEO of AB Science.
Each bank granted a loan of 2 million euros. This loan is 90% guaranteed by the French State, with an initial maturity of 12 months, and an extension option of up to five years, exercisable by AB Science.
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Excellent prospects for the sector
According to Moody’s, the turnover of the sector should increase by 4 to 6% in 2021, against 2 to 4% initially forecast.
The top five vaccine manufacturers (Pfizer-BioNTech, Moderna, AstraZeneca, Novavax and Johnson & Johnson) should benefit greatly from this growth, even if there are uncertainties about production capacities. Treatment manufacturers (Gilead, Eli Lilly and Regeneron in particular) should not be left out.
Alongside the opportunities there are also threats, one of which is potential price reductions, in particular in the United States, the world’s largest market. The rise of biosimilars (generics of biological drugs) should also help pull prices down.
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