Uzbekistan To Establish Venture Fund To Accelerate Pharmaceutical Industry Dev't

TASHKENT, Uzbekistan, January 29. Uzbekistan will establish a venture fund to finance startup projects in key pharmaceutical areas, including biopharmaceuticals, cell technologies, and oncology, Trend reports.

This is reflected in a presidential decree on additional measures for the accelerated development of the pharmaceutical industry.

Additionally, an Investment Fund for promising pharmaceutical projects will be set up to further encourage advancements in the industry.

By July 1, 2025, five model medicinal plant plantations will be created, with processing projects for the medicinal plants grown on these plantations expected to launch by the end of 2026.

Pharm Service, a new state institution, will also be founded to provide marketing and consulting services aimed at implementing advanced standards within pharmaceutical enterprises. These measures are designed to enhance the development and competitiveness of the pharmaceutical sector in the country.

Meanwhile, Uzbekistan's Uzcharmsanoat (association of leather and footwear enterprises) together with Indian BMI and GVANTGE will implement a project to manufacture products essential for the food and pharmaceutical industries by processing cattle bones.