EBRD Backs Nika Pharm With $20 Mln to Boost Local Drug Production in Uzbekistan

The European Bank for Reconstruction and Development (EBRD) is backing the expansion of Uzbekistan’s pharmaceutical industry by providing a loan of up to $20 mln to leading local manufacturer Nika Pharm. The funding will be used to restructure the company’s balance sheet and upgrade equipment and facilities to increase production capacity, enhance product quality, and achieve full compliance with the World Health Organisation’s Good Manufacturing Practice (GMP) standards.

Nika Pharm, an EBRD client since 2021, produces tablets, capsules, sachets and nasal sprays for common colds, gastroenterology, paediatrics and urology. The company has become a leader in segments such as decongestants and has steadily replaced imports with high-quality local products.

The new investment is expected to expand the company’s manufacturing base, improve efficiency and sustainability, and boost production of generic and prescription drugs by an average of 140%. GMP certification will further support Nika Pharm’s position in domestic and regional markets.

Imported medicines currently account for around 75% of Uzbekistan’s pharmaceutical market, which is expected to grow by 10% by 2029. This project aligns with government goals to increase the share of locally produced drugs to 80%.

Since 2021, the EBRD has invested more than $6.6 bn in Uzbekistan across 196 projects, primarily supporting private entrepreneurship and the country’s economic development.

Kursiv also reports that the EBRD is increasing support for micro, small and medium-sized businesses in Uzbekistan.