BAKU, Azerbaijan, April 30. Parla Pharmaceuticals participated in the meeting of the Saudi Arabia-Azerbaijan Joint Business Council held on April 28 in Riyadh under the co-chairmanship of KOBİA, Trend reports.
According to the information, with KOBİA's support and initiative, a Memorandum of Understanding (MoU) was signed with National Development Group Holding, which marked an important stage in the development of Azerbaijan's pharmaceutical industry.
The agreement envisages the initiation of export of high-quality biotechnological and oncological drugs produced in Azerbaijan to Saudi Arabia, as well as to the Middle East, the Persian Gulf, and African countries. At the next stage, it is planned to transfer scientific and technological developments and establish a joint production enterprise in the Kingdom. This cooperation is a strategic part of Parla's global expansion plans and will strengthen Azerbaijan's strategic position in international markets.
Initially, the collaboration will cover about ten advanced medicines used in the fields of hematology, endocrinology, and oncology. These products include Recombinant Factor VIII, Teriparatide, Semaglutide, and Palbociclib. The project is realized with the support of the Small and Medium Business Development Agency of Azerbaijan (KOBİA) and the Ministry of Foreign Investment of Saudi Arabia.
“This is not just a commercial collaboration - it is a strategic step towards jointly developing scientific potential, expanding access to advanced therapies, and showcasing Azerbaijan's innovative potential in the international arena,” Parla Pharmaceuticals CEO Arash Nosrati said.
