Mirziyoyev Unveils UZS 20 Billion Initiative to Strengthen Pharma Sector

President Shavkat Mirziyoyev announced that UZS 20 bn will be allocated to support domestic medicines and pharmaceutical startups as grants. The Innovative Fund will manage the financing of this initiative.

The president also revealed that $400 mn will be invested in the production of 200 types of medicines. “Asaka Bank,” the Agency for the Development of the Pharmaceutical Industry, and major enterprises will develop a programme to implement this by the end of next year.

Additionally, the Reconstruction and Development Fund will offer a $100 mn loan to “Asaka Bank” to support the pharmaceutical sector, specifically for leasing services.

“Asaka Bank” will set up a venture company with $10 mn capital to back pharmaceutical startups.

An investment fund for cutting-edge pharmaceutical projects will also be established. This new entity will invest in biopharmaceuticals, cell technologies, and oncology.