Attracting investments is one of the priorities in the activities of the Single Distributor. Today, there is increased interest in the domestic pharmaceutical market from international investors, who are looking for new opportunities in emerging markets.
The head of state noted the importance of cooperation with global pharmaceutical corporations, attracting investors, ensuring the transfer of technology and the latest developments.
The unified distributor is taking the initiative to provide a platform for large brands to enter the country from packaging to the full production cycle. Thanks to an integrated and systematic approach, there are already positive results in this direction.
For example, historical long-term agreements have been concluded with pharmaceutical giants Roche and Pfizer for the contract production of original innovative drugs. Along with this, Kazakhstan entered into agreements with Johnson & Johnson LLC, AstraZeneca and Bayer KAZ LLP for the development of contract manufacturing of medicines and technology transfer in the field of clinical trials.
Thus, there is an active process of relocation of offices of global industry players to Kazakhstan. Such a significant step plays an important role in creating a domestic and promising infrastructure with the possibility of conducting clinical trials, creating R&D centers and improving the country's human resources potential.
To further develop contract manufacturing and attract investments from global players in Kazakhstan, the unified distributor SK-Pharmaceuticals LLP and the Astana International Financial Center (AIFC) entered into a Memorandum of Understanding.
Cooperation with the AIFC opens up new opportunities for the development of the company, as it is a leading financial center in the region of Central Asia and Eastern Europe, which helps to increase the investment attractiveness of Kazakhstan by providing foreign investors with a reliable legal framework, an independent judicial system, developed financial infrastructure, innovation and expertise.
The activities of AIFC participants are regulated in accordance with the AIFC Acts, which are based on the principles, norms and precedents of the law of England and Wales, and the standards of the world's leading financial centers.
“This approach will have a positive impact on the creation of pharmaceutical hubs in the country. It is known that as part of the development of Kazakhstan as a trade and logistics hub, the creation of a pharmaceutical logistics hub in Central Asia has been initiated. First of all, this is necessary for the quick and efficient distribution of medicines,” noted Erkhat Iskaliev, Chairman of the management Board of SK-Pharmaceuticals LLP.
In pursuance of the President’s instructions on the development of a trade and transport hub in Kazakhstan with the industrialization of product groups, the warehouse and transport logistics system The Unified Distributor became part of this grandiose project, being the anchor client of the pharmaceutical hub.
By attracting BigPharma to the domestic market by localizing production, as well as their offices, Kazakhstan is getting closer to creating a solid infrastructure of a pharmaceutical hub, which will act as a platform for the distribution of medicines and medical products to countries near and far abroad.
“The AIFC offers foreign investors a predictable and familiar legal environment, as well as a comprehensive ecosystem of financial services necessary for comfortable business. This agreement will lay the foundation for cooperation on the AIFC platform in the development of investment projects aimed at developing the pharmaceutical industry and attracting foreign pharmaceutical companies. In addition, the signed Memorandum will facilitate the establishment of contacts and exchange of experience,” noted Temirlan Mukhanbetzhanov, Acting Chairman of the management Board of the AIFC Administration.
Thus, the purpose of the Memorandum is to provide a common framework for cooperation on issues of mutual interest. The document provides for joint work in coordinating practical activities to determine the directions and forms of interaction between the parties.
At the end of the meeting, the parties expressed their readiness for close fruitful cooperation with the prospect of expanding the Kazakh market and strengthening a mutually beneficial partnership. The need to consolidate joint efforts in order to achieve effective indicators of industry development was noted.
For reference:
The Astana International Financial Center (AIFC) is an independent jurisdiction with a favorable legal and regulatory environment and developed infrastructure for opening and running a business, attracting investment, creating jobs and developing the economy of Kazakhstan.
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