Ashok Kumar Tiwary builds pharmaceutical company in Uzbekistan
Shayana Farm has grown from a trading operation into one of Uzbekistan's top five pharmaceutical companies.
Ashok Kumar Tiwary, a mechanical engineer from Bihar's Chapra district, has established a significant pharmaceutical presence in Uzbekistan, according to The Pioneer. After arriving in Tashkent in 2002, Tiwary started a trading operation that evolved into Shayana Farm.
The company currently employs over 500 people, mostly local Uzbek staff, and maintains brands such as Qupen, Feromax, and Welson. The market associated with Shayana Pharma is estimated at approximately $41 million, within an Uzbekistan pharmaceutical market valued at about $2 billion.
Following government incentives introduced after 2013, the company transitioned toward manufacturing. In 2017, the manufacturing unit Well Med Pharm began operations in Tashkent, and the firm is now investing in a facility at Tashkent Pharma Park.
A proposed joint venture with Meros Pharmaceutical Company will see Shayana Pharma holding a 51 per cent stake and Meros holding 49 per cent. This partnership is associated with a reported 30 per cent market share.
The expansion aims to create approximately 1,000 new jobs and will involve recruiting about 60 Indian employees. The project is expected to benefit from government incentives including free land, tax exemptions for up to 10 years, and import duty exemptions on equipment.
In 2023, President Droupadi Murmu conferred the Pravasi Bharatiya Samman on Tiwary for his contributions as an overseas Indian entrepreneur.