On December 18, Shavkat Mirziyoyev held a meeting with the heads of pharmaceutical enterprises, as reported by the president's press service.
Asakabank and the Agency for the Development of the Pharmaceutical Industry, in collaboration with major enterprises, will develop a program until 2025 aimed at producing 200 in-demand types of medicines, which will allow for a doubling of production volume. It is planned to allocate $400 million for the implementation of such projects, attracted under favorable conditions.
An Investment Fund for Advanced Pharmaceutical Projects will be established in Uzbekistan, which will act as a stakeholder and catalyst for projects in areas such as biopharmaceuticals, cell technologies, and oncology.
The Reconstruction and Development Fund will provide Asakabank with a loan of $100 million for projects in this sector. These funds will also be available for leasing services.
Additionally, Asakabank will establish a venture company with a capital of $10 million to finance startups and commercialize new developments. Companies may receive additional funds equivalent to the amount of independently raised investments without the need for expertise.
Photo: President's press service
To support new developments, the Innovation Fund will allocate 20 billion sums in the form of grants, which will be directed towards transforming new domestic pharmaceutical developments into commercial projects and supporting startups.
The period for customs benefits for local pharmaceutical enterprises, which ends on January 1, 2025, will be extended for another three years.
In order to expand exports, entrepreneurs' expenses for obtaining certifications from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) will be covered by the budget.
For the production of substances and plant-based cosmetic components, Asakabank will create plantations covering 5 hectares for each type of medicinal plant by 2025 and will implement 5 pilot projects for their processing.
A project portfolio worth $1 billion will be formed in the pharmaceutical sector, aimed at ensuring the quality of in-demand medicines at a level comparable to foreign analogs, enhancing competition, and increasing price accessibility.
Earlier, Spot reported that a company from Namangan was fined for counterfeit "Biseptol."