A discussion took place regarding the development of the pharmaceutical sector.
On December 18, President Shavkat Mirziyoyev visited the innovative cluster "Tashkent Pharma Park," where he held a meeting with the heads of pharmaceutical enterprises.
012The pharmaceutical industry, which holds significant economic and social importance, receives extensive support from the government. Over the past seven years, the production volume of pharmaceutical products has doubled, exports have increased elevenfold, the number of enterprises has tripled, and $750 million in investments have been attracted.
Currently, there are 3,500 types of medicines and medical devices produced in the country. However, this is insufficient to fully meet demand.
In this regard, the head of state has proposed important initiatives for localizing production and expanding exports.
"Asakabank" and the Agency for the Development of the Pharmaceutical Industry, in collaboration with major enterprises, will develop a program by 2025 to master and produce 200 in-demand types of medicines, which will allow for a doubling of production volume. A total of $400 million will be allocated for the implementation of such projects, which will be attracted on favorable terms.
An Investment Fund for Advanced Pharmaceutical Projects will be established, serving as an equity participant and catalyst for projects in areas such as biopharmaceuticals, cell technologies, and oncology.
The Reconstruction and Development Fund will open a credit line of $100 million for "Asakabank" for projects in this sector. These funds will also be available for leasing services.
Additionally, "Asakabank" will establish a venture capital company with a capital of $10 million to finance startups and commercialize new developments. Companies may receive additional funds without expertise, equal to the amount of self-attracted investments.
It has been determined that 20 billion soums will be allocated from the Innovation Fund in the form of grants to support new developments. These funds will be directed to transform new domestic pharmaceutical developments into commercial projects and support startups.
The duration of customs privileges for local pharmaceutical enterprises, which expires on January 1, 2025, will be extended for another three years.
Domestic enterprises are ready to produce medications based on the technology and formulations of leading foreign pharmaceutical companies. However, the necessary legal framework for such cooperation is lacking, as each such medication must undergo clinical trials and be registered as a new product. This process takes a considerable amount of time. Therefore, the importance of simplifying this procedure has been emphasized.
To expand exports, the expenses of entrepreneurs for obtaining certificates from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) will be covered by the budget.
In our country, the production of substances and cosmetic components of plant origin is developing. To support this work, Asakabank projects will create plantations of 5 hectares for each type of medicinal plant next year and implement five pilot projects for their processing.
Overall, it has been determined that a project portfolio worth a total of $1 billion will be formed in the pharmaceutical sector. These projects will be aimed at ensuring the quality of the most in-demand medicines at a level comparable to foreign analogs, enhancing competition, and increasing price accessibility.
During the meeting, industry representatives shared their opinions and suggestions on production development, product quality improvement, export growth, as well as stimulating science and education.