EBRD to Provide Up to US$20 Million for Modernization of Pharmaceutical Production in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) — The European Bank for Reconstruction and Development (EBRD) is supporting the further development of domestic pharmaceutical production in Uzbekistan by backing one of the country’s leading manufacturers, Nika Pharm.

The company will use the EBRD loan of up to US$20 million for balance sheet restructuring, as well as modernization of equipment and production capacities. This investment will increase output, improve product quality, and bring the entire production process in line with Good Manufacturing Practice (GMP) standards under the World Health Organization’s certification scheme.

Nika Pharm has been an EBRD client since 2021 and has established itself as a reliable producer of tablets, capsules, sachets, and nasal sprays for treating respiratory illnesses, as well as pharmaceuticals in gastroenterology, pediatrics, and urology.

In recent years, the company has taken leading positions in key segments, including anti-edema medications, and demonstrated stable growth by substituting imported products with high-quality domestic alternatives.

The project will expand Nika Pharm’s production base, enhance operational efficiency and resilience, and increase the output of generics and prescription drugs by 140%. Combined with GMP certification, this will strengthen the company’s position both in Uzbekistan and the wider region.

Uzbekistan’s pharmaceutical market is growing rapidly and is projected to expand by another 10% by 2029. Currently, imported medicines account for about 75% of the market. The EBRD project will support the government’s strategy to increase the share of locally produced pharmaceuticals to 80%.

Overall, the EBRD has invested more than US$6.6 billion in Uzbekistan across 196 projects, with a significant portion directed to the private sector, contributing to the country’s sustainable economic development.