Baku, Azerbaijan, Nov. 16
By Sara Israfilbayova - Trend:
The total voiume of pharmaceuticals production in Azerbaijan in 2019 is expected to stand at 38.2 million manats, which is almost 30 times higher than the forecast figures by late 2018, reads the concept of socio-economic development of Azerbaijan and forecasts for 2019 and the next three years.
Azerbaijan plans to produce pharmaceutical products worth 1.3 million manats in 2019. The production will be expanded in subsequent years. Thus, the output will reach 38.8 million manats in 2020,39.5 million manats in 2021 and 40.2 million manats in 2022.
The reason for the expected sharp increase in production is that pharmaceutical plants will start operating in the country's Pirallahi industrial park starting from 2019.
The industrial park, which was established in 2016, specializes in the production of pharmaceutical products. Here, as in other industrial parks, investors are exempted from paying various taxes and customs duties for seven years.
The Pirallahi industrial park currently has four residents: the joint Azerbaijani-Russian plant Hayat Pharm, the Azerbaijani-Iranian plant Caspian Pharmed, the plant of Diamed Co and the plant of the company IFFA. These plants are under construction.
Forecasts for production of pharmaceuticals until 2023:
|
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
|
|
Medicines containing antibiotics, for retail sale (1,000 manats) |
73.8 |
87.6 |
96.4 |
106.0 |
116.6 |
128.3 |
|
Medicines containing mixed or pure components (1,000 manats) |
578.2 |
582.4 |
640.6 |
704.7 |
775.2 |
852.7 |