NEW GERMAN-UZBEK JV PHARMA COMPANY LAUNCHED IN UZBEKISTAN

The Uzbek-German joint pharmaceutical company UzGerMed Pharm was launched in the Yukorichirchik district of Tashkent region.

"The company will produce three million standard units of drugs of different pharmacological groups, like Novocaine, Calcium gluconate, Glucose, Dimedrol, Dibazol," said the executive director of the venture, Abdurahman Nazarov.

"The plant is equipped with modern technology, employing more than 50 specialists. With the launch of the company at full capacity, the number of workers will be brought up to 120 people."

The provision of medical institutions and quality, affordable medicine is an important part in efforts to reform the medical system of Uzbekistan, as stipulated in a decree by Uzbek President Islam Karimov.

At present, over 110 pharmaceuticals operate at Uzfarmsanoat, according a report by UzA. For the past period of 2010, they exported the goods worth of US$$605,800.

The favorable investment conditions for domestic producers also serve as an important factor in establishing new enterprises in the industry. In addition, existing companies are reconstructed and modernized, launching new product lines.

The number of manufacturing facilities in Tashkent region reached 100 since January 2010. Over $10.5 million and 38 billion soums (US$23 million) has been invested to create these companies jointly with local and foreign entrepreneurs. About 2,000 new jobs were created in these new enterprises.