Details added (first version posted on 13:57)
Baku, Azerbaijan, Sept. 28
Trend:
Azerbaijan’s Economy Ministry and Hayat Pharm LLC signed a memorandum of understanding on Sept. 28 for development of pharmaceutical industry.
The document was signed by Deputy Economy Minister Niyazi Safarov and Director General of Hayat Pharm LLC Ramin Hajiyev during the 23rd Azerbaijan International Healthcare Exhibition BIHE 2017.
Deputy Economy Minister Niyazi Safarov told reporters that the MOU notes the need to encourage the establishment of an association of manufacturers of pharmaceutical products, the export of these products, the production of new types of pharmaceutical products, as well as investing in research activity in this field.
Hayat Pharm, the first pharmaceutical plant in Azerbaijan, is a joint project of Azerbaijan and Russia. Hayat Pharm will produce medicines of various pharmaceutical groups, including anti-cancer, anti-fungal, anti-emetic, anti-viral and other medicines. The plant’s capacity will be 22.5 million packages or 500 million pills and capsules.