Cuba sets up pharmaceutical industry group

Cuba has announced the setting up of BioCubaFarma, the Biotechnological and Pharmaceutical Industry Group, from the merger of scientific centers, with the aim of producing medicines, equipment and services for the population and for exports, reports ACN, the Cuban news agency.

The initiative comes after a decision by the Cuban Council of State, through decree 307, dated November 27, 2012. The new conglomerate of 38 companies also includes entities within the Quimefa group and it was conceived following the technical and scientific level achieved by the country.

The decision to set up BioCubaFarma is in tune with the economic and social guidelines approved by the 6th Congress of the Cuban Communist Party about the consolidation of the pharmaceutical and biotechnological industry as one of the country’s areas with higher export capacity, and able to introduce new products into the local market to replace imports.