Cuban Biopharmaceutical Industry Open to Foreign Investment

Havana, Jul 3 (Prensa Latina) The integration of the biotechnology and pharmaceutical industries in a closed cycle involving science, production and marketing is today a major attraction Cuba is offering to foreign investment, said First Vice President Miguel Diaz-Canel. This potential of the new business group Biocubafarma is backed by the Foreign Investment Law No. 118 and the windows opened by the Special Development Zone of Mariel (ZEDM), he said.

Summing up the presentation made by Biocubapharma to the Parliament standing committees, Diaz-Canel commented that this was a result of farsighted views of main Revolution leaders that the future of the country must necessarily be a future of scientists, which is materialized by Biocubafarma.

The country is working on a broad business portfolio and this will complement the work of two joint ventures abroad, involving the Center for Genetic Engineering and Biotechnology and the Center for Molecular Immunology.

This also mean prospects to open ourselves to the international market with high standards of competence through advanced technologies and high quality for internal and external consumption, and wide-range offers and niches, said Diaz-Canel.

Biocubafarma is not only important because of the number of items and equipment achieved, but also because it works on a high technology perception, spending part of its income on research and development.

Biocubafarma CEO, Carlos Gutierrez, told Parliament legislators that after the ZEDM was opened and the Investment Law was approved, at least 25 foreign firms from 12 countries have expressed their interest in doing business with Biocubafarma.



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