Rafarma Pharmaceuticals, Inc. (OTC: RAFA) presented a project for the immune cells oncological and sterile drugs production and fractionation, blood plasma processing within the innovative scientific and production pharmaceutical cluster "Tashkent Pharma Park". It became a part of a list of measures to accelerate the development of the pharmaceutical industry in Uzbekistan in 2022-2026. The estimated project cost is $45 million, and the planned implementation period is 2024.
In total, 18 projects were included in the list of investment projects in the pharmaceutical industry requiring the development, coordination and approval of pre-project and project documentation in 2022-2026.
The Decree of the President of Uzbekistan Shavkat Miromonovich Mirziyoyev, dated January 21, 2022, is aimed at further improving the provision of the population with high-quality, effective and safe pharmaceutical products, increasing production in the pharmaceutical industry by three times and increasing the level of supply of the domestic market in physical terms to 80% through the introduction of advanced scientific and technological achievements and innovations in the industry.
As of the end of 2021, the level of coverage of the annual need for medicines in the country is 45%. By 2024, the forecast indicator is 63%, and by 2026 - 80%. The pharmaceutical products export of Uzbekistan's current status is $60 million. This figure is planned to increase to $110 million by 2024 and by 2026 - up to $130 million.
ABOUT RAFARMA PHARMACEUTICALS:
Rafarma Pharmaceuticals is an international holding company is engaged in projects conducting the production and market entry of innovative drugs and technology platforms. The business has had a reputation as a reliable manufacturer and distributor since 1930. Rafarma Pharmaceuticals run more than 25 programs in molecular biology, nuclear medicine, immunology, sustainable packaging and many other fields at the moment.
For more information, please visit https://www.noyarp.com
Forward-Looking Statements: This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as “may”, “will”, “to”, “plan”, “expect”, “believe”, “anticipate”, “intend”, “could”, “would”, “estimate,” or “continue”, or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risk, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with OTC Markets. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Source: Rafarma Pharmaceuticals, Inc.