Uzbek-Indian joint venture Nova Pharm with estimated cost of $8 million opened
Termiz, Surkhandarya region commissioned the first line of Uzbek-Indian joint venture Nova Pharm. It will produce 14 kinds of medications.
Today the pharmaceutical industry of Uzbekistan is undergoing drastic changes. The influx of investment in this field ensures better quality of drugs produced and expands their range, upgrading of existing enterprises and construction of new plants. Currently there are 117 pharmaceutical companies in the country.
They produce more than 1,050 kinds of medications, some of which are exported abroad. The opening of Nova Pharm in Termiz with $8 million of estimated cost is a striking confirmation of dynamic development of the pharmaceutical industry.
$2 million were spent jointly with Indian partners on introduction of the first line of the modern enterprise. 50 new jobs were created here.
According to head of the regional health department Turakul Arzikulov, the first line of the new company, will greatly expand opportunities to ensure affordable and high quality medications for healthcare institutions in the country. After launching the second line of the enterprise and the production of high quality infusion and injection solutions, syrups and suspensions there will be no need of importing similar products from abroad.
It should be noted that construction of the second line of the joint venture is currently ongoing. With the company running at full capacity, 130 people will get jobs.
As director of Nova Pharm Satvinder Singh noted, favorable conditions created in Uzbekistan, ensure modern industrial complexes' organization. The new joint venture will manufacture products to compete with foreign analogs. Forty percent of the drugs will be allocated to the domestic market, while sixty percent to be exported.