The Uzbek group of companies Eriell and the Turkish Abdi İbrahim and Güray Group signed a trilateral protocol on cooperation in the production, sale, marketing, and distribution of licensed medicines in Uzbekistan.

The document, signed during last week’s Tashkent International Investment Forum, reflects the three companies’ intentions to create a joint venture in the capital.

According to the Development Strategy of New Uzbekistan for 2022-2026 and the Presidential Resolution of January 10, 2024, “On additional measures to further develop the pharmaceutical industry and accelerate the implementation of investment projects”, the parties intend to organize the production of medicines to minimize imports and provide high-quality medicines to the country’s population.

On the Turkish side, the protocol was signed by the Chairman of the Board of Güray Group, Gürel Aydın, and the CEO of Abdi İbrahim, Süha Taşpolatoğlu, and on the Uzbek side, by the Founder of Eriell, Bakhtiyor Fozilov.

The parties also plan to build a pharmaceutical plant that meets good manufacturing practice requirements and organize medicines production and quality control. The total investment will be approximately $100 million and will take five years to complete.

Nasiba Ziyodullayeva, UzA