• Submitted by: manso
• Business and Economy
• 01 / 05 / 2011

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Venezuela will ramp up pharmaceutical production with Cuban and Portuguese help within three years, Venezuela’s deputy health minister said.

Venezuela’s Servicio Autónomo de Elaboraciones Farmaceúticas (Sefar) is planning to build a joint venture plant with Cuba for various basic drugs, and a joint venture plant with Portugal for antibiotics, Isabel Iturria said, according to Agencia Venezolana de Noticias.

According to the Sefar Website, the state institution is planning to produce Atenolol, Vitamin C, Ethambutol, Ibuprofene, Loratadine and other drugs.

The pharmaceutical cluster plan is one of 20 new projects — ranging from textile manufacturing, to producing medical equipment, plastic bags and construction material — the two countries launched in November during a bilateral meeting, as part of a 10-year extension of their decade-old Integral Cooperation Agreement.

The two countries also agreed to create a joint venture company for assembly and repair for high-voltage transformers; one for maintenance and repair of oil drilling equipment; one for production of alcohol and other derivatives; one for repairs and maintenance of fuel tanks; another one for the maintenance of shipyards; to train Venezuelan personnel in shipbuilding and ship repairs; and to build a floating platform to pump fuel on tankers.

Source: www.cubastandard.com/2011/01/04/