Discussions have been held at the Ministry of Economy of the Republic of Azerbaijan with the participation of representatives of relevant state institutions and the private sector on the development of the pharmaceutical industry.
A meeting has been held at the Ministry of Economy of Azerbaijan to discuss the perspectives of the pharmaceutical industry.
The meeting was attended by Minister of Economy Mikayil Jabbarov, Deputy Minister of Health Rasim Ismayilov, Chairman of the Board of Directors of the State Agency on Mandatory Medical Insurance Zaur Aliyev, Executive Director of the Management Union of Medical Territorial Units (TABIB) Vugar Gurbanov, as well as representatives of relevant state institutions and the private sector engaged in the production of pharmaceuticals.
It was highlighted at the event that the diversification of the economy and the establishment of the favorable business climate under the leadership of the Head of State create conditions for developing the non-oil industry, as well as the pharmaceutical sector. The ongoing efforts in the pharmaceutical industry, investment projects and the expansion of local production capacities strengthen the medicine supply of our country.
The Pirallahi Industrial Park, that specializes in manufacturing pharmaceuticals, possesses all opportunities to produce competitive products and establish processing enterprises. Significant investments have been attracted to the pharmaceutical industry in recent years. The investment portfolio of the Pirallahi Industrial Park alone is approximately 130 mln. AZN. Here, a number of companies, including “Diamed Co” and “R-Pharm” manufacture various types of medicine and medical supplies. Meanwhile, “Falck”, “Supreme Pharmatech” and others are planning to launch production.
Large-scale projects in this field are also being executed outside industrial parks. The new plant, constructed by “Scandens Pharmaceutical Industries LTD” and the opening of which was attended by the Head of State in November this year, is increasing its production capacity with modern technologies. The “BioPharmax” project underway in the Alat Free Economic Zone envisages the expansion of the production of various medical products.
It was noted that the total investment volume on the existing and under-construction pharmaceutical enterprises exceeds 265 mln. AZN.
It was emphasized that the main tasks ahead are the expansion of the local production, the increase of competitiveness and the reduction of import dependency.
Discussions were held on the relevant issues in the pharmaceutical industry.
