Over the past seven years, Uzbekistan's pharmaceutical sector has experienced growth, with pharmaceutical production doubling, exports increasing by 11 times, and investments totaling $750mn. Additionally, the number of pharmaceutical enterprises has tripled, highlighting the sector's growing importance in both the economy and society.
On December 18, President Shavkat Mirziyoyev held a meeting with leaders of pharmaceutical enterprises at the Tashkent Pharma Park innovation cluster to discuss further development of the industry. During the meeting, the president emphasized the government's commitment to creating broad opportunities for the sector and outlined several key initiatives aimed at addressing existing challenges.
While the country currently produces 3,500 types of medicines and medical devices, the demand is not fully met. To bridge this gap, the President proposed expanding local production and increasing exports of a wider range of medicines. As part of these efforts, Asaka Bank and the Pharmaceutical Agency have been tasked with developing a program to double production of 200 types of widely consumed medicines by 2025, with $400mn in foreign investments allocated to these projects under favorable terms.
The government also announced plans to establish an investment fund to support advanced pharmaceutical projects in areas such as biopharmaceuticals, cell technologies, and oncology, which will act as a catalyst for innovation in the sector.
A $100mn credit line has been opened from the Reconstruction and Development Fund to Asaka Bank to further develop the sector, with funds also made available for leasing. Additionally, Asaka Bank will launch a $10mn venture capital company to support the commercialization of new pharmaceutical developments and finance startup projects.
A grant of UZS 20bn ($1.6mn) will also be allocated from the Innovation Fund to support the transformation of local drug developments into commercial projects and to fund new pharmaceutical startups.
To foster the sector’s growth, customs privileges for local pharmaceutical enterprises have been extended for an additional three years, until January 1, 2028.
The president also highlighted the need to simplify legal processes related to collaboration with foreign pharmaceutical companies. Currently, local enterprises are ready to produce medicines based on foreign technologies, but each medicine must undergo clinical research and registration as a new product. Simplifying this procedure will accelerate production and reduce delays.
To further expand export markets, the government will cover the costs for obtaining certifications from the US Food and Drug Administration (FDA) and the European Medicines Agency.
Looking ahead, the government aims to create $1bn worth of projects in the pharmaceutical industry to produce high-demand medicines that match international quality standards, foster competition, and reduce prices. Industry leaders also shared their views on improving production, product quality, and export potential, as well as on promoting science and education in the pharmaceutical field.
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