The European Bank for Reconstruction and Development (EBRD) is stimulating the local production of pharmaceuticals in Uzbekistan, by extending a senior loan of up to $5 million to local producer Nika Pharm.
Nika Pharm is an established manufacturer of generic pharmaceuticals and prescription drugs for use in the treatment of common colds, and in gastroenterology, pediatrics and urology. It will use the financing to acquire specialized manufacturing equipment for capacity expansion at its principal production facility in Tashkent.
The company will also build three new warehouses with a combined storage area of around 3,000 m2 in the regional centers of Fergana, Termez and Urgench by 2023. This will allow Nika Pharm to increase the availability of its pharmaceuticals in remote regions, which are home to almost half of Uzbekistan’s population.
Upgrading the company’s research and development function will help Nika Pharm to manufacture competitively priced high-quality medicines for the country’s rapidly growing population. Customers across Uzbekistan will welcome more competition in a market that relies heavily on imports, accounting for up to 75 percent of domestic consumption.
Nika Pharm will also increase the range of its medicines, particularly important for a market set to grow significantly in the next five years.
