[ECON] [EVENT] BioCuba Farma

[u/SpookySneakySquid]

BioCuba Farma

Havana, Cuba - May, 1972

In order to sustain a publicly funded healthcare system, Cuba will need to develop a strong pharmaceutical base to supplement the nation’s consumption of medications, with the core goal being to produce affordable medications. To lead this effort, the government will be forming BioCuba Farma, which will be a state run pharmaceutical meant to develop the nation’s capabilities,with Fidel Castro proudly announcing the nation’s intention to invest the equivalent of $1 billion dollars over the next 20 years into the industry.

BioCuba Farma will primarily operate as a “corporate” arm of the Centro Nacional de Investigaciones Cientificas (CNIC). CNIC will act as a feeder for the state-run pharmaceutical company, and will be expanded by opening an additional 3,000 slots in research positions across various disciplines over the next 5 years. CNIC functions currently as a post-graduate facility to develop high-skilled scientists taught by both Cuban and Foreign staff, will see massive expansion from that will be supplemented by an increasing flow of foreign experts and professors as the Cuban government secures more foreign expertise. Students that graduate from the CINC will be encouraged to pursue further studies abroad, in the hopes of them eventually returning with an even higher level of expertise.

Unique to the Cuban economic system, BioCuba Farma will adopt a unique structure - by adopting the structure of a typical company, which will have a focus on developing new products and integrating a trading arm to sell the company’s developments abroad. The company will be allowed and expected to export medicines abroad for a profit to supplement R&D costs - though the government will retain the ability to adjust prices as needed in special cases.

BioCuba Production Plants

To minimize the effects of the economic embargo, Cuba will begin heavily investing into BioCuba Farma’s ability to domestically produce medications. These efforts will start with simpler medicines - such as painkillers and antibiotics, and gradually expand as production abilities and local expertise increases. To compliment this, the government will continue to purchase drugs from both Eastern and Western Europe to supplement domestic supplies until it is no longer needed.