Baku, Azerbaijan, Apr. 21
By Farhad Daneshvar - Trend:
Iranian pharmaceutical company Darou Pakhsh has finalized the deal with the Azerbaijan Investment Company to produce over 9 kinds of medicines in Azerbaijan's Sumgait, Kambiz Amjadi, head of the company, told Trend Apr. 21.
He said $34 million would be invested in the medicine production project.
Darou Pakhsh inked an MOU with the Sumgait Industrial Park, the Azerbaijan Investment Company and Azersun Holding on April 21 in Baku.
Earlier, Mehdi Mohtashami, head of the secretariat of the Azerbaijan-Iran Intergovernmental Commission on Trade, Economic and Humanitarian Cooperation, told Trend that Iran is interested in opening a plant of Darou Pakhsh in the Sumgait Chemical Industrial Park for producing medicines.
"That plant can meet the demand in medicines in [Azerbaijan's] domestic market," he said, adding that it will be possible to export the plant's products to other countries as well.
Darou Pakhsh is the largest pharmaceutical company in Iran and the region.
It is a part of the Darou Pakhsh Holding Company, which owns 10 companies engaged in production and distribution of medicines and in medical research.