Pharmaceutical manufacturers in Belarus are consolidated into a holding company

| By | Belarus, Drug Manufacturing

A holding company to manufacture pharmaceutical products will be established in Belarus. According to presidential press service, the corresponding decree was signed by Alexander Lukashenko. The press service added that the consolidation of companies will improve the efficiency in management of state-owned assets through optimization and cost cutting.

“This will be achieved by ensuring that the licensing authorities, state registration of medicines and certification of production facilities are independent from state-owned manufacturers, which is in line with the global practices,” said the presidential press service.

The authorities expect that the consolidation of pharmaceutical companies will improve the competitiveness of Belarusian drugs on international markets.

The holding company will be open for admitting the enterprises with any form of ownership and any departmental affiliation.

The decree also provides for liquidation of the Pharmaceutical Industry Department. Its functions of state regulation in the pharmaceutical industry will be retained by the Ministry of Health.