New funding to strengthen Cuba's biopharmaceutical industry

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New funding to strengthen Cuba's biopharmaceutical industry

Home/Pharma News | Posted 18/11/2022 0 Post your comment

On 22 September 2022, the United Nations Development Programme (UNDP) announced the execution of a loan of Euros 46.7 million (US$45.25 million dollars) to support Cuba's biopharmaceutical industry and improve the country's capacity to respond against diseases such as COVID-19.

The credit, signed by the Central American Bank for Economic Integration (CABEI), also includes the reinforcement of the productive infrastructure for the production of injectable antibiotics, parenteral solutions (serums), generic and biosimilar medicines, diagnostics and medical equipment used in the treatment of people infected with COVID-19 and other communicable diseases, as well as the acquisition of health supplies and medical protection material to prevent contagion.

The initiative, which will benefit more than 11 million people through the production of 200 million doses of vaccines, is expected to achieve higher levels of economic productivity through the development of innovative medicines of great importance in the context of the pandemic and the modernisation of technology, which will contribute to diversification for the benefit of the national health system and other Latin American countries.

In addition to the million-dollar loan from the UNDP to develop medicines, there are actions by Cuban authorities to expand international cooperation in this area. An Action Plan for the period 2023–2025 was recently signed between the health authorities of Cuba and Vietnam with the aim of both countries to advance in pharmaceutical and biotechnological cooperation, as well as to strengthen existing partnerships in the area of biopharmaceuticals and promote their development.

Cuba has been suffering a long crisis, even before the appearance of COVID-19, due to the lack of raw materials and the instability of supplies to produce medicines, many of which are indispensable, especially for the treatment of chronic diseases for a large part of the population.

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