MEDKHIMPROM CAME UNDER EXTERNAL SURVEILLANCE

JSC Medkhimprom has completed the bankruptcy proceedings in which the industrial chemical pharmaceutical company has been since March 2022. The arbitration granted the petition of creditors who had previously voted to terminate this bankruptcy procedure. This is reported on the "Fedresource".

Medkhimprom is a major producer of ether and ethyl alcohol in the Russian pharmaceutical market. PCFC was founded in 1992 and is located on the territory of the Roshal chemical Plant near Moscow.

According to the data for 2018, the company showed good financial results. Revenue reached 1.1 billion. The organization ended the year with a net profit of 31.4 million. The plans of the PCFC were to launch pharmaceutical production on the territory of the subsidiary of Efremov-Pharma in the Tula region.

The head of the region Alexey Dyumin then signed a major contract with the company. It was assumed that the project would create jobs for 120 employees. Investments in the project were estimated at 2.65 billion rubles.

However, in 2021, Medkhimprom's revenue decreased to 862 million. The company completed its work with a loss of over 10.4 million.

In March 2022, the arbitration court decided on the bankruptcy of the company. The total amount of debt was 476 million. Despite the petition of the company's representatives, who announced plans to go with creditors to conclude a settlement agreement, the company was transferred to bankruptcy proceedings.

The draft agreement prepared by the PCFC did not suit the main creditors in the person of Rosfarmatsiya, Azelin Rus and Valery Pirogov. Their claims then exceeded 50% of the company's total debt.

Photo: Freepik