Cantacuzino Institute Becomes Public Institution Of Strategic Interest, Gets EUR10M State Aid

06.24.2015 By Gabriela Stan

The National Institute of Research and Development for Microbiology and Immunology Cantacuzino will become public institution of strategic interest, and will get EUR10 million to pay its debts to the state and suppliers, according to an emergency ordinance approved Tuesday by the government.

On June 10, Prime Minister Victor Ponta stated that the government was pending the approval of the European Commission to grant a state aid to Cantacuzino Institute, by wiping off its debts.

Official sources had previously stated that the institute would get an individual state aid worth EUR10 million, namely RON35 million in cash and the payment of debts to Romania's tax authority ANAF. The state aid will be given for a 6-month period, then the institute will have to come up with a restructuring plan.

The institute, which is among the most valuable producers of immunology medicines in the world, started to face decline since February 2010, after the National Medicine Agency withdrew its authorization to sell vaccines, as certain authorizations were expired.

Thus, certain national immunization programs have been blocked for several months and Romanian authorities were forced to import the vaccines.