Cuba biotechnology has great development potential

Cuban officials have made rather optimistic judgments about the prospect of biotechnology and pharmaceutical development, one of the areas with potential to become a key economic sector of this Caribbean island nation.

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According to Xinhua News Agency on April 24, the interview was on television, Vice President of BioCubaFarma Biotechnology and Pharmaceutical Corporation, Mr. Jose Luis Fernandez Yero, stating the revenue of this industry in the period 2013-2017. could reach more than US $ 5 billion - doubling compared to the previous five-year period.

Illustration.(Source: londonmet.ac.uk)

According to him, Cuba's biotech products are currently exported to more than 50 countries around the world, and the authorities are still trying to expand the market. In addition, of the nearly 900 types of drugs being sold in Cuba, there are more than 580 types produced in the country.

According to the official, BioCubaFarma was established in April 2011 after the 6th Congress of the Cuban Communist Party advocated updating the country's economic model in the new period, including the goal of bringing the technology industry. Biology and pharmaceuticals become one of the leading export industries of the economy.

Recently, the World Health Organization (WHO) has acknowledged the multifaceted support of the Cuban Government for biotechnology. WHO said that in the past 20 years, Cuba has invested $ 1 billion to research and develop this field.

Cuban scientists have made significant strides in studying new treatments for cancer as well as devices to diagnose and prevent this dangerous disease. According to WHO, an estimated 31,000 patients die from cancer each year.