Nicosia, Cyprus, April 29, 2022 (GLOBE NEWSWIRE) -- Representatives of Rafarma Pharmaceuticals, Inc. (OTC: RAFA) visited Uzbekistan and discussed the prospects for the company's development in the territory of the innovative research and production pharmaceutical cluster "Tashkent Pharma Park". Rafarma Pharmaceuticals is not new to the Central Asian market, the company has been operating there for a long time and plans to increase its presence by creating local production.

Over the next three years, the company plans to build a plant there designed according to all Industry 4.0 standards: a flexible industrial base that can easily, quickly and cost-effectively undergo significant modernization and modification depending on production tasks, drugs and required technologies.

The plant will include two production units:

• production of sterile preparations for the market of Uzbekistan and the countries of Central Asia
• production of fractionated blood plasma elements and other products in the form of frozen plasma and blood factors, as well as the development of a network of laboratories for plasma procurement

Rafarma Pharmaceuticals is the initiator of the development of new approaches to the drugs from blood plasma creation in Uzbekistan. The company's project, which became a part of a list of measures to accelerate the development of the pharmaceutical industry in Uzbekistan in 2022-2026, will consist of two stages: the creation of a modern certified laboratories network for plasma collection and then the creation of a plant for its fractionation. In 4-5 years, the business's expected revenue will be tens of millions of dollars.

To date, the country's government is working on legislative changes in the principles of working with blood plasma in the medical sector and is also preparing documents to allow the based on it medicine export. The implementation of the Rafarma Pharmaceuticals project will begin as soon as the necessary regulatory framework creates in the government, which is expected to happen soon.

Uzbekistan ranks first among the Eastern Europe countries in terms of economic growth, and the expected changes will only strengthen the country's influence in the pharmaceutical market.

ABOUT RAFARMA PHARMACEUTICALS:

Rafarma Pharmaceuticals is a diversified pharmaceutical company dedicated to the new treatments and solutions development for patients in various fields. Regularly cooperating with leading research institutes and pharmaceutical companies around the world, the business has earned a reputation as a reliable manufacturer and distributor. Rafarma Pharmaceuticals has more than 25 programs in molecular biology, nuclear medicine, immunology, sustainable packaging and many other fields at the moment.

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FORWARD-LOOKING STATEMENT:

Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as "may", "will", "to", "plan", "expect", "believe", "anticipate", "intend", "could", "would", "estimate," or "continue", or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risk, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date hereof. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with OTC Markets. Except as required by law, we assume no obligation to update these forward-looking statements publicly or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

CONTACTS:
RAFARMA PHARMACEUTICALS 
Info@rafapharm.com
(307) 429-2029

Source: Rafarma Pharmaceuticals, Inc.