Iran's pharmaceutical products comprise 97% of domestic drug market

Business Materials 17 July 2019 17:57 (UTC +04:00)

Tehran, Iran, July 17


The share of Iran's domestic pharmaceutical products in the market is 97 percent, while 67 percent of raw material for the industry was imported, said Deputy Minister of Industry, Mine and Trade.

"The pharmaceutical industry is one of the priorities of the government, since it is about health of people, so the ministry is ready to support development of domestic production," said Farshad Moghimi, Trend reports citing ILNA.

"This will help to reduce dependency on foreign currency based imports and improve domestic production," he added. "Given that the domestic products share good amount of market, there is the need to localize production of raw material for medicine purposes."

In his words, the Ministry of Industry, Mines and Trade has called all organizations concerned to identify country's industrial needs.

"The necessary measures to facilitate expansion of production in pharmaceutical industry should be taken, including addressing environmental issues to start operations of Barakat Pharmaceutical Industrial City," he noted.