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Economy Ministry: “Pirallahi Industrial Park will provide the population with quality medicines”

15 May 2018 [14:35] - TODAY.AZ

By Azernews


By Sara Israfilbayova

The Pirallahi Industrial Park will promote sustainable development of the non-oil industry in the country, said Azerbaijan’s Economy Ministry to Azernews.

“Besides, main goals are to create competitive and innovative industries based on cutting-edge technologies, to develop and support the pharmaceutical industry, reduce dependence on pharmaceutical products, promote local production in meeting the needs of the population and increasing the employment of the population,” the ministry stressed.

The Economy Ministry noted that at present 3 residents are registered in the Industrial Park-Hayat Pharm, a joint venture of Azerbaijan and Russia, as well as Caspian Pharmed and Diamed Co,  joint ventures of Azerbaijan and Iran.

“These joint ventures will produce analgesics, cardiovascular agents, non-steroidal anti-inflammatory drugs, antihistamine medicines, as well vitamins and nutritional supplements, while Diamed Co will produce disposable syringes.”

“By the end of 2018, the packaging line will be put into operation in the joint venture of Azerbaijan and Russia,” according to the ministry.

In addition, according to the Memorandum of Understanding signed between the Azerbaijani Investment Company OJSC and the Ukrainian Indar Company in the Pirallahi Industrial Park in 2017, Indar will produce infusion and injection products according to international standards.

“Totally, current residents of the Pirallahi Industrial Parkabout are expected to create 350 new jobs,” the ministry added.

The Hayat Pharm, a joint venture between Azerbaijan and Russia, will produce 22.5 million packages or 500 million pills and capsules per year based on the technology of Germany, Italy and other European countries. The plant will produce additives for oncology, AIDS, nervous system, cardiovascular, diabetes, supporting-motor apparatus and respiratory system medications, antibiotics, anti-inflammatory, antidiarrheals and antinausea drugs, as well as drugs for X-ray contrast and magnetic resonance imaging.

“Generally, the plant will produce 89 types of medicines for 58 substances at the first stage. In future it is planned to expand production,” the ministry noted.

Answering the question on cooperation with Indian pharmaceutical companies, the ministry mentioned that Indian Ambassador to Azerbaijan Sanjay Rana visited Sumgait Chemical Industry Park last April.

“The ambassador was informed about industrial parks, including the Pirallahi Industrial Park, the conditions created for investors and discounts. During the meeting, discussions were also held on cooperation in the field of pharmaceuticals. We are ready to evaluate this bid if Indian companies offer proposals for pharmaceutical cooperation and creation of a joint venture.”

Further, the ministry underlined that pharmaceutical plants, which will be built and put into operation in Pirallahi Industrial Park, will play an important role in the development of the pharmaceutical industry in Azerbaijan and will provide the population with quality medicines through local production, reduce dependence on imports and increase export potential.

“The products to be produced in these enterprises are planned to be exported to Turkey, Iran, Ukraine, Georgia and the CIS countries under the “Made in Azerbaijan” brand,” according to the country’s Economy Ministry.

In conclusion, speaking of future plans, the ministry noted that the country is holding talks with a number of leading companies interested in the pharmaceutical industry.

“The Sumgait Chemical Industrial Park LLC, a controlling organization of Pirallahi Industrial Park, is continuing its efforts to attract local and foreign investors to the Park and promote it in various activities both in our country and abroad.”

In late 2015, the government announced that Azerbaijan will create its own enterprises that will manufacture medicines to cease dependence on imports.

To this end, the Pirallahi Industrial Park is established by the order of President Ilham Aliyev “On Establishment of Pirallahi Industrial Park” dated September 14, 2016.

URL: http://www.today.az/news/business/170049.html

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