AstraZeneca to invest $40 mln in Kazakhstan’s Pharmaceutical Sector by 2030International biopharmaceutical company AstraZeneca has invested $5 million in localizing productioin in Kazakhstan and plans to increase investments to $40 million by 2030, according to Maria Shipuleva, Director of AstraZeneca Kazakhstan."We support the head of state’s goal to increase domestic production to 50% by 2029 and attract international investment into innovative pharmaceuticals. Three innovative companies, including ours, have decided to localize production at Kazakh manufacturing sites. We have already invested around $5 million.  By 2030, total investments will reach approximately $40 million. The first batch of products will be released in a month," Shipuleva said during a meeting of the Investment Climate Improvement Council on healthcare development.In turn, Kazakh Prime Minister Olzhas Bektenov emphasized the government’s focus on boosting investment, localizing production, and creating high-value-added clusters with investor participation.The government is enhancing efforts to improve the business climate to increase the share of domestic pharmaceutical and medical product manufacturing to 50% by 2029. This includes investment incentives such as tax breaks, in-kind grants, and long-term contracts. Legislation for bringing medicines to market has also been simplified, reducing the process from two years to 100 working days."Ninety long-term agreements with 34 manufacturers have been signed to produce around 2,500 pharmaceutical products. Active collaboration has been established with global pharmaceutical leaders, including Pfizer, AstraZeneca, and La Roche, to localize production of innovative drugs, transfer technologies, and train personnel," the government press service reported following the council meeting.The meeting was attended by ambassadors from the U.S., European Union, and Canada, representatives of the American Chamber of Commerce, and regional directors of international companies such as Johnson & Johnson, Pfizer, AstraZeneca, Kazanada LLP, and La Roche.AstraZeneca is a Swedish-British biopharmaceutical company specializing in the development and commercialization of drugs for gastrointestinal, cardiovascular, neurological, oncological, and infectious diseases, as well as COVID-19 vaccines. The company operates in over 100 countries.AstraZeneca opened its Kazakhstan office in 2007 and registered a local LLP in September 2023.As previously reported, in 2021, the company signed a cooperation memorandum to implement initiatives such as expanding access to innovative drugs, introducing digital solutions, and advancing new approaches in disease diagnosis and therapy. (ICE ALMATY)

Fonte notizia: INTERFAX