Pharmaceutical plant to be launched this year
By Mirsaid Ibrahimzade
Construction of medicines production plants continues in Azerbaijan, Elsevar Aghayev, Azerbaijani Deputy Minister of Health, told Trend.
He noted that it is planned to open one of the pharmaceutical facilities this year. One of the plants is being built together with a Russian and another one with an Iranian company.
Aghayev said that after the plants are put into operation, the production of medicines most frequently used by the population will start.
It is noteworthy that pharmaceutical plants are built in the Pirallahi Industrial Park.
Azerbaijan takes serious measures to reduce dependency on imports in pharmaceutical industry. Thus to develop the pharmaceutical industry in the country, Pirallahi Industrial Park was established in 2016. Specialized in the production of pharmaceutical products, the Park aims to lessen dependence on imports in this area, to meet the medicine demand of the population and to increase employment.
The Pirallahi Industrial Park currently has four residents including the joint Azerbaijani-Russian plant Hayat Pharm, Azerbaijani-Iranian plant Caspian Pharmed, plant of Diamed Co., and plant of IFFA. These plants are under construction.
In addition, a big pharmaceutical enterprise will be built in Azerbaijan through Belarusian investments. The enterprise will provide the Azerbaijani market with the most modern high-tech oncology medicines.
German pharmaceutical companies are also interested in this sector and watch the Azerbaijani market, considering possible market entry in 2019-2020.
Developing pharmaceutical manufacturing in oil-rich Azerbaijan may become one of the major directions in the country's aspiration to diversify its non-oil sector of economy.
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Mirsaid Ibrahimzade is AzerNews’ staff journalist, follow him on Twitter: @MirsaidIbrahim1
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