Uzbekistan is set to develop a program for the production and release of 200 essential types of medications.

In particular, "Asakabank" and the Agency for the Development of the Pharmaceutical Industry will collaborate with major enterprises to develop a program by 2025 for the production and introduction of 200 in-demand types of medicines, which will double production capacity. A total of 400 million dollars will be allocated for the implementation of such projects, attracted under favorable conditions.

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

The Reconstruction and Development Fund will provide "Asakabank" with a credit line of 100 million dollars for projects in this field. These funds will also be available for leasing services.

Additionally, "Asakabank" will launch a venture company with a capital of 10 million dollars to finance startups and commercialize new developments. Companies may receive additional funds without expert evaluation, equivalent to the amount of independently attracted investments.

It has been determined that 20 billion sums from the Innovation Fund will be allocated in the form of grants to support new developments. These funds will be directed towards transforming new domestic pharmaceutical developments into commercial projects and supporting startups.

The validity period of customs benefits for local pharmaceutical enterprises, which ends on January 1, 2025, will be extended for another three years.

Domestic enterprises are prepared to produce medicines based on the technology and recipes of leading foreign pharmaceutical companies. However, there is a lack of the necessary legal framework for such cooperation, as each medicine 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 highlighted.

To expand exports, entrepreneurs' expenses for obtaining certificates from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) will be covered by the budget.

The production of plant-based substances and cosmetic components is developing in the country. To support this work, "Asakabank" will establish plantations covering 5 hectares for each type of medicinal plant and implement 5 pilot projects for their processing in the coming year.

Overall, it has been determined that a project portfolio worth 1 billion dollars will be formed in the pharmaceutical industry. These projects will aim to ensure the quality of the most in-demand medicines at a level comparable to foreign counterparts, enhance competition, and improve price accessibility.

During the meeting, industry representatives shared their views and suggestions on production development, product quality improvement, export growth, and the stimulation of science and education.