Tashkent, Uzbekistan (UzDaily.com) -- The international pharmaceutical company STADA considers the Uzbek market as one of the highest priorities in the CIS region, due to the constantly growing demand of the population for high-quality and affordable drugs. This was announced at the 13th annual Eurasian Pharmaceutical Forum by the director of the STADA representative office in Uzbekistan Bakhtiyar Khadjimukhamedov.

According to STADA, starting from 2021, the Uzbek market is experiencing a real boom. This is one of the most attractive markets both in the post-Soviet space and in comparison with European ones - according to the results of last year, the increase in euro equivalent was 15.5%, in packages - 10.7%. This rise is due to the factor of high population growth - 1.5-2% per year (today about 35 million people live in Uzbekistan), as well as positive economic changes taking place in the country over the past few years

2021 has been a successful year for the company as well. STADA increased the volume of investments in the region, the structures of marketing departments and field forces were radically changed. Successfully launched a project to double the number of medical representatives and increase their efficiency compared to the previous period.

Bakhtiyar Khadjimukhamedov, Representative Office Director, STADA Uzbekistan:

“We at STADA believe that the pharmaceutical market in Uzbekistan has huge potential. To date, its volume is about 1.5 billion euros (according to IQVIA), of which 90% is retail, 10% is the hospital sector. Moreover, the second has enormous prospects for development. In 2021, the pharmaceutical market of Uzbekistan grew by 15.5% (in euros). One of the key tasks of STADA is to ensure the availability of drugs for the population. We revised our strategy and approaches, almost doubling our investments. Together with a change in the structure of the company, this gave its results - an excess of primary sales in 2021 by 10% compared to the budget. By 2020, this indicator has grown by 47%.

Speaking about the serialization (digital labeling) of drugs in Uzbekistan, Bakhtiyar Khadjimukhamedov outlined the main advantages of the project: it is an opportunity to provide the population with high-quality and effective drugs and protect it from falsified and counterfeit products. However, according to him, when setting the implementation timeframe, one should be guided by the financial capabilities of local players. In addition, without the publication of a regulatory document regulating the labeling of medicines, manufacturers will not be able to prepare for the launch of production processes related to labeling to resolve technical issues.

Bakhtiyar Khadjimukhamedov continued:

“The issue of introducing labeling is relevant for all players in the Uzbek market, there is a risk of a shortage of drugs, including those vital for the treatment of serious diseases. There are several options for solving it. For example, this is the possibility of recognition by the Operator in Uzbekistan of the marking codes applied in the Operator’s system in the Russian Federation. But this can only apply to drugs with packaging produced in Russia and registered in the Republic of Uzbekistan. In addition, we turned to the regulators so that registration changes in packaging layouts related to labeling would be free of charge and take as little time as possible. It was also proposed to consider the possibility of providing a transitional period for the import of non-labeled products from the date of the introduction of mandatory labeling.”

STADA has been operating in Uzbekistan for over 15 years. The company operates in several areas: generics and Consumer Healthcare (OTC drugs, nutritional supplements, vitamins), including specialty drugs. According to IQVIA, for 2021, STADA in Uzbekistan ranks second in the OTC drug market with a market share of 4.7%. The main brands of the portfolio in the region are: Cardiomagnyl, Calcium D3, Vitaprost, Kamistad, Aqualor spray and Levomekol.