Azerbaijan predicts huge growth of own pharma industry over next 5 years
Baku, Azerbaijan, Oct. 25
By Azad Hasanli – Trend:
The pharmaceutical production will increase by 58.4 times in Azerbaijan over the next 5 years, according to the concept of social and economic development of the country in 2018 and the next three years, submitted to the country’s parliament for discussion.
According to the document, the pharmaceutical production volumes will reach 1.5 million manats in 2017 and 1.9 million manats in 2018.
At present, pharmaceutics is almost undeveloped in Azerbaijan, most of the medicines and other pharmaceutical products are imported from abroad. A number of low-profile companies such as Azerjod LLC operate in the country, but the production of pills, antibiotics and other medicines in the country has not yet been established.
The establishment of the Pirallahi industrial park was launched in Azerbaijan in September 2016 to improve the situation in the pharmaceutical industry. The plant of Azerbaijan’s Diamed C company and two pharmaceutical plants with foreign capital, namely, Azerbaijani-Russian and Azerbaijani-Iranian plants, are being currently built in the Pirallahi industrial park. A similar agreement has been recently signed with Ukraine’s Indar company.
Moreover, Belarusian, South Korean and Japanese companies are also interested in constructing pharmaceutical plants in Azerbaijan.
After commissioning of those pharmaceutical plants in Azerbaijan, the pharmaceutical production is expected to soar. Thus, according to the concept, the pharmaceutical production volumes must reach 69.5 million manats in 2019, 77.6 million manats in 2020 and 87.6 million manats in 2021.