Baku, Azerbaijan, Oct. 4
By Matanat Nasibova - Trend:
The value of investments envisaged for the construction of a pharmaceutical plant by the Ukrainian company Indar in Azerbaijan may reach $10 million, a source familiar with the matter told Trend.
At the first stage of the plant’s commissioning, the number of working personnel won’t exceed 500 people, according to the source.
“Presently, many companies with Ukrainian capital operate in Azerbaijan, our countries successfully cooperate in many areas,” the source noted. “Pharmaceuticals are well developed in Ukraine, and about half of the drugs sold in the country are Ukrainian-made drugs. At the same time, Ukrainian pharmaceutical companies in terms of equipment and technology aren’t inferior to the Swiss and German ones.”
“For Ukrainian business, it is profitable to expand its presence and enter new production and sales markets,” the source added. “Presently, Ukraine supplies its own medicines to Azerbaijan, and the construction of a joint pharmaceutical plant will allow the country to further replenish the Azerbaijani drug market.”
The source noted that the Ukrainian business has successful experience in the construction of plants using new modern equipment there.
“Ukrainian companies have contractual relations with major global brands of pharmaceuticals, and this allows them to produce well-promoted pharmaceutical brands without violating copyright,” the source said. “So it is possible that in the future, the Swiss drug Viagra in Azerbaijan may be of Azerbaijani-Ukrainian production, and will be issued as part of the Swiss patent.”
Azerbaijan’s trade turnover with Ukraine in the first half of 2018 amounted to $343.87 million, $146.57 million of which accounted for the exports of Azerbaijani products to Ukraine, according to Azerbaijan’s State Customs Committee.