Landsteiner Scientific went from allying with the Russian government to distribute and package the Sputnik V vaccine against Covid-19 in Mexico to becoming financially insolvent due to widespread non-payment of its suppliers and creditors.
The Landsteiner Scientific insolvency process is one of the most important at the moment in Mexico, due to the great impact it has on the health industry, reveals the Federal Institute of Commercial Bankruptcy Specialists (Ifecom).
The Second District Court for Bankruptcy Matters of Mexico City and with jurisdiction throughout the Mexican Republic, headed by Saúl Martínez Lira, published the judgment approving the bankruptcy agreement to restructure the debts of the pharmaceutical company Landsteiner Scientific.
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The agreement presented by the bankruptcy specialist, Gerardo Sierra Arrazola, was achieved with 91.70 percent approval votes and provides for the payment of 100 percent of its loans to common creditors, Bancomext, Banco Invex, Banorte, BBVA, Banregio, Bancomext and Grupo Zamberk.
The company owned by Miguel Antonio Granados Cervera was declared in bankruptcy in March 2022, after it failed to pay bills of billions of pesos to its creditors between August 2020 and October 2021.
The financial restructuring will allow Landsteiner Scientific to continue its operations and expand its capabilities in the pharmaceutical areas in which it participates such as anesthesia, analgesia, insulin, as well as anti-infective, cardiology, dermatology, gynecology and gastrointestinal drugs.
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“Commercial bankruptcy is a great tool to restructure in a global and orderly manner the liabilities of a company with insolvency problems,” added Ifecom.
Landsteiner is a pharmaceutical company dedicated to the development, manufacture and commercialization of medicines, biotechnology and other goods for the health sector in Mexico.
Landsteiner Scientific, which allied with the Russian government to distribute and package the Sputnik V vaccine to stop Covid-19, was founded in 1998 by Mexican businessman Miguel Granados Mora.
In September 2020, the Russian Direct Investment Fund (RDIF) and Landsteiner Scientific reported that 32 million of the Sputnik V vaccine to stop the coronavirus pandemic (Covid-19) will be sent to Mexico starting in November 2020.
“Our Mexican partners understand the advantages of the Russian Sputnik V vaccine over other candidate vaccines,” said Kirill Dmitriev, executive director of RDIF, Russia’s sovereign wealth fund created in 2011 to co-invest with prominent international institutional investors.
“We have agreed on a significant shipment of the Sputnik V vaccine to Mexico, which will allow around 25 percent of the Mexican population to have access to an effective and safe vaccine,” said the manager of the fund, which acts as a catalyst for direct investment in the Russian economy.
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“Landsteiner Scientific is willing to collaborate in the success of the National Vaccination Policy and be allies of the federal government in the current health emergency,” said Miguel Granados, president of Landsteiner Scientific.
“Thanks to its high effectiveness and ease of transfer, the Russian vaccine has a comparative advantage that will undoubtedly bring the federal government closer to achieving the objectives of its vaccination plan,” Granados commented on February 22, 2021.
Alejandro Lara, medical director of Landsteiner Scientific, and Rosa María Wong, head of the Clinical Research subdivision of the Faculty of Medicine of the National Autonomous University of Mexico (UNAM), welcomed the fact that clinical studies on the effectiveness of the Sputnik V vaccine have been disseminated by experts, published in high-impact scientific journals, and reviewed by peers who can verify the benefits.
Both affirmed that it was the dissemination of these results and the opinion of experts that helped to resolve doubts and gain confidence from the scientific and general population.
Alejandro Lara commented that Mexico was one of the first countries to raise its hand to acquire the vaccine, which has shown efficacy, quality and anticipated adverse events, stipulated and published in full view of the world.
With the application of the Russian vaccine, “Mexico joins this scientific certainty such as Sputnik V,” said Alejandro Lara. “The best vaccine is the one that is applied,” added Rosa María Wong.
On March 27, 2021, Robert Russell, Landsteiner Scientific’s Senior Vice President of International Business, stated that they have the capacity to package between 79 and 80 million doses of covid-19 Sputnik V vaccines in just two weeks.
Within the framework of Foreign Minister Marcelo Ebrard’s visit to Russia to discuss packaging plans for the Sputnik V vaccine in the country, Russell considered that “it would be beneficial to have a facility in Mexico that can take care of the requirements of Mexico and other countries.”
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The pharmaceutical company with a production plant in Toluca, State of Mexico has been in talks with the Russian Direct Investment Fund (RDIF) since August 2020 about possible local production of the vaccine.
Russell mentioned that Landsteiner Scientific would not give an exact figure for such a potential investment, but did ensure that the company has the land and facilities necessary to accommodate a coronavirus vaccine production facility.
Landsteiner Scientific
2023-07-24 08:00:00
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