IranPharma: Nuclear deal helped Iran’s pharmaceutical market

Business Materials 13 September 2017 19:19 (UTC +04:00)

Tehran, Iran, Sept. 13

By Mehdi Sepahvand – Trend:

Tehran is hosting IranPharma, the third version of an annual international pharmaceutical exhibition. The general atmosphere on the fairground is one of Iranian and foreign company holders gathering to find new business opportunities.

This atmosphere, most of the exhibitors say, is owing to the nuclear deal between Iran and the world powers, which came into force in 2016, officially called the Joint Comprehensive Plan of Action (JCPOA), Trend correspondent reported September 13.

“With the JCPOA, the market has become more profitable. We are now having an easier time paying for the material that we procure from abroad,” Parisa Moradnejad, an exports manager at Dakpha, said.

“There has also been the opportunity to develop new products for the domestic market,” she added.

Sara Kalantari, another exhibitor, said her company is now able to export several tons of products per year to countries such as Switzerland, Syria, Iraq, India and Paraguay, and is developing its foreign market into Azerbaijan and Ukraine.

Yet another exhibitor, who preferred his name not to be mentioned, said his company has been exporting “satisfactory amount” of products to European countries recently.

Abbas Kebriaeizadeh, head of Iran Pharmaceutical Association, recently said Iran is producing over 96 percent of the medical products that it consumes, adding 50 percent of the ingredients are also made domestically.

The 3rd International Exhibition on Pharmaceuticals and Related Industries, IranPharma 2017, started September 12 and will end September 14.

IranPharma 2017 is hosting 502 pharmaceutical companies, of which 164 have come from overseas.