First International Pharmaceutical Forum opens in Tashkent

On June 15 this year, the First International Pharmaceutical Forum, organized by the Ministry of Investment and Foreign Trade, the Pharmaceutical Industry Development Agency, and the Association of Representative Offices of Foreign Pharmaceutical Companies and Manufacturers in the Republic of Uzbekistan, began its work at the Hyatt Regency Tashkent Hotel.

The forum is aimed at supporting local manufacturers of pharmaceutical products, increasing the volume of its localization and export, and attracting foreign companies to the implementation of joint investment projects in Uzbekistan. The event is intended to become a platform for the exchange of best practices and practices, innovative methods and technologies between domestic and foreign manufacturers, regulators, distributors, and experts in the pharmaceutical market.

As part of the speeches of the Forum speakers at the opening ceremony, it was emphasized that over the past 5 years, over 100 investment projects worth about $500 million have been launched in the country in the industry, 65 of which were created with the participation of foreign investors, as a result of which the volume of pharmaceutical production increased by 2.5 times, and exports – almost 5 times. More than 7 thousand new jobs have been created. It was announced that by 2026 it is planned to increase the production of pharmaceutical products by 3 times and bring the share of domestically produced medicines in the Uzbek market to 80%.

In the development of the domestic pharmaceutical industry, there have been trends in the introduction of new mechanisms for concluding multi-year off-take contracts (a contract for the purchase of products that are planned to be produced in the future on predetermined conditions) of guaranteed purchase, the successful practice of creating free economic and pharmaceutical industrial zones, the introduction of effective mechanisms for financial support of pharmaceutical manufacturers, in particular, the allocation of subsidies to national pharmaceutical enterprises for conducting clinical trials, covering transportation costs, registration and certification of products in foreign countries and the costs associated with the implementation of international quality standards GMP (Good Manufacturing Practice), GDP (Good Distribution Practice) and GPP (Good pharmacy practice).

Representatives of more than 100 leading local and foreign pharmaceutical companies, heads of relevant ministries and departments, representatives of foreign diplomatic missions, as well as representatives of large pharmacy chains and distributors take part in the Forum. The event will consider the development of the pharmaceutical industry in Uzbekistan, the effective use of its investment and industrial potential, the prospects for creating joint ventures, as well as measures to protect intellectual property in the field of pharmaceuticals. Participants will also discuss the impact of the pandemic on the development of the industry and current trends in the development of the pharmaceutical industry in the post-COVID period.

The partners, foreign businesses, guests of the Forum will be presented with presentations on specific investment proposals focused on the production of high value-added products that are most in demand on the local and regional markets.

For reference: currently, 221 pharmaceutical production enterprises operate in Uzbekistan, 140 pharmacies specialize in the production of medicines, 616 organizations specialize in the wholesale of pharmaceutical products and 15,790 pharmacies and their branches in the retail trade of medicines and medical devices. In 2021, local enterprises produced pharmaceutical products totaling 3.8 trillion soums, while the volume of production increased by 29 percent compared to 2020.

The forum will continue its work on June 15 and 16. On June 17, the First International Exhibition of Medicinal Plant Products “Avicenna Heritage” will be organized in the city of Samarkand, revealing the heritage of the outstanding Uzbek scientist Abu Ali ibn Sina.