Promomed plans to enter Uzbek market

SARANSK. Feb 18 (Interfax) - Promomed has had its production facility, JSC Biokhimik , approved in an international audit by Uzbekistan's Ministry of Public Health, and now plans to enter the country's pharmaceuticals market, Promomed said in a press release.

Promomed received a certificate from the Uzbek ministry confirming that it conforms to international GMP standards.

Specifically, the company plans to supply endocrine drugs to Uzbekistan and, as it expands its product portfolio, drugs for treating cancers and fighting infections.

"In total, the list could contain over 20 items in various medicinal forms and doses," the statement reads.

As reported, Promomed has said that it wanted to increase the share of export sales to around 10%, but did not disclose a timeframe for this goal. Exports made up 5% of total sales in 2024.

Promomed consolidates Promomed RUS LLC, the company's R&D center, Promomed DM LLC, its sales and bond issuer, and production facility JSC Biokhimik .

PJSC Promomed held an IPO in July 2024, placing approximately 6 billion rubles of shares.