The Forbs Ukraine magazine published an article on the launch of pharmaceutical production in Uzbekistan.
The Forbs reports that the Ukrainian pharmaceutical company Yuria-Pharm acquired the Uzbek company Reka-Med with financial assistance from the EBRD for 10 million euros
The completed transaction will allow to launch of the production of highly-demanded pharmaceutical products in Uzbekistan.
Yuria-Pharm is one of the top five pharmaceutical manufacturers in Ukraine and exports its products to more than 40 countries around the world. The company signed an initial loan agreement with the EBRD in May 2019 for €25 million with two tranches to modernize packaging lines, launch the production of cancer drugs in affordable individual doses and implement energy efficiency measures.
According to Matteo Patrone, Managing Director of the EBRD for Eastern Europe and the Caucasus, the agreement will allow Yuria-Pharm to export 30% of its products, of which 15% is in Uzbekistan. He also noted that this agreement will improve the availability and accessibility of medicines in both Uzbekistan and Ukraine.
It is expected that as a result of entering the market not only of Uzbekistan but of the whole of Central Asia, the Ukrainian pharmaceutical manufacturer will be able to expand its business, while Uzbekistan will gain access to new pharmaceutical products.
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