An exchange of views on developing pharmaceutical sector takes place

On December 18 President Shavkat Mirziyoyev held a meeting with the heads of pharmaceutical enterprises in the framework of visiting an innovative cluster "Tashkent Pharma Park".

The pharmaceutical industry, having an important economic and social significance, is widely supported by the state. Over the past seven years, the volume of pharmaceutical production has doubled, exports have increased 11 times, the number of enterprises has tripled, and $750 million dollars of investment has been attracted.

Today the country produces 3.5 thousand titles of medicines and medical devices. However, this is not enough to fully meet the demand.

In this regard, the Head of State has put forward significant initiatives to localize production and expand exports. 

“Asakabank” and the Pharmaceutical Industry Development Agency jointly with large enterprises will elaborate a program until 2025 to master and produce 200 demanded types of medicines, which will double the production volume. To implement such projects $400 million will be allocated, attracted on favorable terms. 

An Investment Fund for Advanced Pharmaceutical Projects will be established, which will become a shareholder and catalyst for projects in such areas as biopharmaceuticals, cell technologies and oncology. 

The Fund for Reconstruction and Development will open a $100 million credit line to “Asakabank” for projects in the field. These funds will be issued for leasing services as well. 

Also “Asakabank” will open a venture company with a capital of $10 million to finance start-ups and commercialization of new developments. The company may be allocated additional funds without expertise in the amount equal to the size of independently attracted investments. 

It is stipulated that 20 billion soums will be allocated from the Innovation Fund in the form of grants to support new developments. These funds will be used to turn new domestic drug developments into commercial projects and support startups. 

The term of customs privileges for local pharmaceutical companies, which ends on January 1, 2025, will be extended for another three years. 

Domestic enterprises are ready to produce drugs based on the technology and formulation of leading foreign pharmaceutical companies. However, there is no required legal framework for such cooperation, each drug has to be clinically tested and registered as a new product. This takes a lot of time. In this regard, the importance of simplifying this procedure was noted.

In order to expand exports, the costs of entrepreneurs for obtaining certificates from the U.S. Food and Drug Administration (FDA) and the European Medical Agency (EMA) will be covered by the budget.

In our country, the field of production of substances and cosmetic components of plant origin is developing. To support this work, in the framework of “Asakabank” projects, plantations of 5 hectares for each type of medicinal plants will be established next year and 5 pilot projects for their processing will be implemented.

In general, it is determined that a portfolio of projects with a total value of $1 billion will be generated in the pharmaceutical industry. They will be aimed at ensuring the quality of the most popular drugs at a level not inferior to foreign equivalents, strengthening competition and increasing the affordability of prices.

During the meeting, the industry representatives shared their opinions and proposals on production development, improving product quality, increasing exports, as well as stimulating science and education.