Indian firm may make insulin in Kazakhstan

Indian firm may make insulin in Kazakhstan

Kazakhstan is set to overcome its dependence on imported insulin with an Indian firm planning to produce the drug at a facility in Almaty, reflecting the growing interest in Central Asia among India's pharmaceutical companies. Indian and Kazakh officials admit bilateral trade, currently worth nearly $1 billion, has been held back by lack of connectivity and lack of information on both sides. The Kazakh government has stepped up efforts to woo Indian investors to overcome these problems, with 12 Indian firms participating in last week's Astana Economic Forum. India's RV Healthcare has inked a long-term agreement with the Kazakh health ministry to supply insulin and cancer medicines over 10 years. The firm's new plant in the suburbs of Almaty is set to begin producing insulin within three years, after the drug is registered with local authorities. The Indian firm also signed a memorandum of cooperation last week with state-run Kazakh Invest for supporting the project, which Kazakh officials said, will end their country's complete dependence on imported insulin. Kazakh Invest chief Saparbek Tuyakbayev said: “We are focusing on India to overcome the lack of information. We have organised about five events in India to create awareness and also set up an office in Delhi.”

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