Baku, Azerbaijan, Feb. 10
By Anvar Mammadov – Trend:
Ukraine and Azerbaijan are considering the creation of manufacturing enterprises on the basis of mutual investments, Vadym Sydiachenko, first secretary on economic issues of the Ukrainian embassy in Azerbaijan, told Trend.
“Ukraine plans to make serious investments in Azerbaijan, particularly, in the creation of a joint venture on production of medicines. We hope that a joint venture will be created this year, and the construction of a pharmaceutical plant for the production of infusion solutions will start,” said Sydiachenko.
Currently, two pharmaceutical plants are being built in Azerbaijan. The first plant Hayat Pharm is being built in the Pirallahi Industrial Park and is a joint Azerbaijani-Russian project. R-Pharm company is the participant from the Russian side.
The second plant – Caspian Pharmed – is being built jointly with Iran’s Tamin Pharmaceutical Investment Company (TPICO). The enterprise’s creation will be carried out in stages: at the first stage, it is planned to produce drugs in the form of tablets and capsules, at the second stage – in the form of ampoules and vials, and at the third stage – a more extended range of antibiotics.
The Caspian Pharmed plant is expected to annually produce 200 million tablets and capsules, as well as 84 drugs, including essential ones for treatment of heart diseases, contagious diseases, non-communicable diseases, as well as various types of antibiotics and painkillers.
Moreover, the construction of the third pharmaceutical plant will start in March 2017 in Azerbaijan. The plant will be built by the UAE’s VPS Healthcare company. The plant’s construction is envisaged by the memorandum signed by the VPS Healthcare company with Azerbaijan Investment Company.