The project

Read the information document of the issuer here

Established in 1992 with the vision to enhance the wellbeing of the livestock in Mongolia, Bio Impex LLC is the first domestic manufacturer of anti-parasite pharmaceuticals that introduced GMP Standard in the country. Today, it’s one of the only two pharmaceutical manufacturers in operation while approximately 90% of the veterinary products are imported in Mongolia. With over 60 million livestock, animal husbandry is one of the main contributor to the economy supporting over one third of the population’s livelihood. However, the parasite is the root cause of many livestock diseases and affecting the economic value of the sector. The demand and necessity for supplement treatments for livestock have kept increasing.

The owner, Mr. Otgonbaatar Urjin has earned his Doctor’s degree in Veterinary Medicine and runs the family business with a vision to create import substituting medicines and create more jobs in the field. Together with his 11 staff, Otgonbaatar produces 3 kinds of Anti-Parasite medicines: Ivermectin-1% vaccine, Albendazole-10 pill and Deltatraz pour-on, which are required be taken twice a year - in spring and autumn. The company has representative salesmen in 18 of 21 provinces and supplies the products through all pharmacy chain stores in the capital city. As for its continuous effort to support the herders, the company donated MNT 3.5 million (approximately US$1,400) equivalent treatment aids to the herders in the remote areas during the calving season.

In spring 2017, the company was not able to meet the market demand due to the lack of working capital. Thus, in order to prepare for the upcoming spring season, the company is requesting MNT 120 million loan to increase the production volume and add 2 more staff in the factory. With more availability of domestically manufactured veterinary supplements, the herders will benefit from the approximately 20% price drop compared to imported products. This will lead to a better chance to prevent their livestock from getting parasite infections and will be able to improve the volume and quality of their dairy products. This will ultimately have a positive impact on the quality of living of the people of Mongolia.