OREANDA-NEWS.  March 28, 2014. VTB Bank has opened a RUB 2 billion three-year credit line for Microgen, the largest producer of immunobiological medicines in Russia. The company will use the loan to finance its activities and upgrade its production facilities.

VTB also provides a wide range of banking services to Microgen, including cash management and guarantees under a RUB 2 billion general agreement.

"VTB and Microgen are building a comprehensive, long-term partnership that plays a major role in providing the national healthcare system with modern effective and safe medicines," VTB Bank Management Board member Valery Lukyanenko said.

"Long-term agreements signed with one of Russia’s largest banks, such as this credit line, will help the company to improve its financial management and continue its ambitious plans to upgrade production and make it consistent with good manufacturing practice," said Microgen’s First Deputy General Director for Economy and Investment Grigory Potapov.