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Azerbaijani pharmaceutical market draws in Russia

27 August 2015 08:51 (UTC+04:00)
Azerbaijani pharmaceutical market draws in Russia

By Nigar Orujova

The pharmaceutical market of Azerbaijan remains attractive for Russian pharmaceutical companies, said Eldar Tlyabichev, Trade Representative of Russia in Azerbaijan.

“There is an ongoing study of market opportunities for deciding the format of developing Russian-Azerbaijani cooperation in this area. I hope that the contact points will be identified during the meetings in the framework of the Azerbaijan International Exhibition Healthcare-2015 in Baku this September,” he said.

He noted that after the representatives of Russian pharmaceutical companies held discussions with the Health Ministry of Azerbaijan, a number of contracts were signed for the supply of a wide range of pharmaceutical products to the country.

“The Russian companies continued negotiations with Azerbaijani partners in summer after the first visit of a delegation of Russian pharmaceutical companies, headed by Deputy Minister of Industry and Trade Sergey Tsyba, organized by the Trade Representation of Russia in Azerbaijan in this April. A number of contracts were signed for the supply of various pharmaceutical products to Azerbaijan,” he said.

Tlyabichev added that the “Moscow Endocrine Plant” company now supplies narcotic and psychotropic medicines to Azerbaijan.

The preparation for a visit by Russian Industry and Trade Minister Denis Manturov to Azerbaijan continues, he added.

Economy expert Oktay Hagverdiyev believes that since the country is producing only a few medicines, this issue should be solved by import.

“It will not affect our economy in any way as it is related to human health. Therefore, we will not limit the supply of medicines. Conversely, we will encourage it,” he said.

He added that all pharmaceuticals imported into Azerbaijan undergo a thorough examination and are tested for quality. The imports will also not affect prices, as they are now regulated by the state.

The expert noted that the country itself might start production of more pharmaceutical drugs itself.

Azerbaijan is producing only a miniscule share of medicines, while the overwhelming majority is imported. Over 4,560 drugs passed state registration in Azerbaijan in 2014.

All medicine imported into the country are inspected before reaching pharmacies and hospitals. Azerbaijan bans the import of drugs to the country without a license, permission, or other relevant documents.

Earlier, the Azerbaijani government had decided to strengthen state control over the pharmaceutical market in the country in an effort to regulate this important social segment of economy.

The Tariff Council has reduced prices for over 1,000 names of medicines so far, which would ultimately cut overall prices in the market. A list of these medicines is available on the Council’s website.

Moreover, Iran also expressed interest to open a plant in Azerbaijan for pharmaceutical production. The plant could meet the demand for medicines in the domestic market, and the production could also be exported.

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Nigar Orujova is AzerNews’s staff journalist, follow her on Twitter: @o_nigar

Follow us on Twitter @AzerNewsAz

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