Yerevan /Mediamax/. Armenian President Serzh Sargsian visited “Liqvor Pharmaceuticals” company today, aiming to get acquainted with its activity.

Mediamax reports that the Director of the Company Sergey Matevosyan stated that in January “Liqvor” turned to the operative crisis prevention staff under the Armenian government aiming at receiving a state loan at the sum of $2.4mln for the term of 5 years and with the interest rate of 10%.

According to Sergey Matevosyan, $1.8mln from the loan sum is planned to be spent for construction works of a new production corps of “Liqvor”, which has been in process of construction since September, 2008, as well as for investments into production, which, according to the Director of the Company, will allow in three years tripling the sales, having the first pharmaceutical factory in Armenia, meeting GMP standards, expanding export and substituting import, as well as doubling the number of employees, which now makes 83.

Minister of Economy of Armenia Nerses Yeritsyan stated that the government has not yet made the final decision on allocating the loan for the company, at that noting the high chances for “Liqvor” to receive assistance from the government.

“The company demonstrates high growth speeds, in 2008, the volumes of its export made over $1mln, and the governmental assistance will help it invest in scientific research and transform those into production”, Nerses Yeritsyan stated, noting that the chances of the company to receive a governmental loan are high also due to 40% participation of European Bank for Reconstruction and Development in “Liqvor” capital.

“Liqvor” company was founded in 1991 and produces medicaments for intravenous injections and ophthalmologic medicine. Following the results of 2008, the company is the leader in Armenia as to production of medicaments and the geography of export (almost all CIS countries). Export in 2008 made 40% of the company’s sales.