Cuba encourages foreign investment for biotechnology development

HAVANA, Cuba, Jan 29 (ACN) In order to boost the development of biotechnology in Cuba, the new Portfolio of Opportunities 2020-2021 promotes four investment projects in this sector with a total amount of about 109 million dollars of foreign capital.

These initiatives will promote the construction of new centers for the development of medicines and biotechnological products, mainly for export.

Among the investment intentions are the creation of two plants for the manufacture of cytostatic medicines

The investment plans include the creation of two facilities for the manufacture of cytostatic drugs (anti-cancer drugs) and human placenta derivatives.

At the same time, the foreign capital will be able to allocate its financial resources in two projects production and marketing of preparations in semi-solid form and vaccine against classical swine fever (Porvac).

Of these, three are expected to be developed in the Mariel Special Development Zone, a favorable location for companies wishing to invest in high value-added research and production facilities.

The construction of the cytostatic drug development plant will include a line of drugs in liquid vials, with a capacity of 10 million units per year, and another for oral preparations with a capacity of 70 million units per year.

It is also planned to build and assemble a plant for fermentation and formulation of a finished product that will increase the production capacity of the Porvac vaccine, an important antidote against swine cholera developed by the Center for Genetic Engineering and Biotechnology (CIGB).

Foreign investment will also be promoted for the construction of two new pharmaceutical plants, which will produce systemic antibiotics (beta-lactams) to satisfy the demand for the drug in the domestic market and for export to the Latin American region.

In most of the sectors of the Cuban economy and in a large number of business groups, there is an awareness that investment in the production is a priority for the country, which can be seen in the way these entities get involved or try to get involved in the creation or design of projects of this type.