On December 18, President Shavkat Mirziyoyev met with the heads of pharmaceutical enterprises at the “Tashkent Pharma Park” innovation cluster to discuss the development of the pharmaceutical sector.
This sector, which holds both economic and social significance, has been given extensive opportunities by the state. Over the past seven years, pharmaceutical production has doubled, exports have grown 11 times, and $750 million in investments have been absorbed, leading to a threefold increase in the number of enterprises.
Currently, Uzbekistan produces 3,500 types of medicines and medical products. However, this does not fully meet domestic demand.
To address this, the President proposed significant initiatives to localize the production of various medicines and expand exports.
The Asaka Bank and the Pharmaceutical Agency were instructed to collaborate with major local enterprises to develop a program for producing 200 types of widely used medicines by 2025, doubling production. $400 million in favorable foreign investments will be allocated for such projects.
An Advanced Projects Investment Fund will be established in the pharmaceutical sector to invest in biopharmaceuticals, cell technologies, oncology, and other areas, acting as a catalyst for these projects.
The Reconstruction and Development Fund has allocated a $100 million credit line to Asaka Bank to support the industry, which will now also be available for leasing.
Additionally, Asaka Bank will establish a $10 million venture company to commercialize new developments and finance startup projects in pharmaceuticals. For every dollar a startup attracts, the venture company will provide the same amount without requiring additional review.
The Innovation Fund will grant 20 billion soums for new developments, aiming to turn scientists’ innovations into commercial projects and support startups.
Customs benefits for local pharmaceutical enterprises, initially set to expire on January 1, 2025, will be extended for another three years.
Uzbek enterprises are prepared to produce medicines based on the technologies and recipes of leading foreign pharmaceutical companies. However, the absence of a legal framework for such cooperation requires each medicine to undergo clinical trials and registration as a new product, consuming a lot of time. Simplifying this procedure was emphasized as a priority.
To help entrepreneurs expand export markets, the state will reimburse expenses for obtaining certifications from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency.
Industrial-scale cultivation and processing of medicinal plants for substance and cosmetic component extraction are gaining momentum. Accordingly, five model projects, including medicinal plant plantations of five hectares each, will be implemented next year in collaboration with Asaka Bank.
In total, $1 billion worth of projects in the pharmaceutical industry will be developed. These initiatives aim to produce high-demand medicines of international quality, foster market competition, and reduce prices.
During the discussion, industry representatives shared their views on further developing production, improving product quality, boosting exports, and promoting science and education in the sector.
