The foundation stone laying ceremony to mark the foundation of a hi-tech pharm complex named Hayat Pharm was held in Pirallahi industrial estate near Baku, Azerbaijan, on November 2nd, 2016. In order to carry out the project a joint venture was established by the following shareholders: R-Pharm group of companies (the Russian Federation), Vita-A LLC (Republic of Azerbaijan) and Azerbaijan Investment Company (Ministry of Economy, Republic of Azerbaijan).
The official ceremony was held in the presence of the honored guests. The foundation of Hayat Pharm plant was laid by Shakhin Mustafaev, Minister of Economy of Republic of Azerbaijan, Alexander Tsybulsky, Deputy Minister of Economic Development of the Russian Federation, and Alexey Repik, Chairman of Board of Directors of R-Pharm group.
Hayat Pharm joint venture was established by the parties in order to implement a long-term program on building of the first pharmaceutical complex in Azerbaijan that will consist of manufacturing, laboratory and logistics units. The project involves implementation of advanced technological solutions, equipment and engineering techniques of the leading European companies. The overall amount of investment exceeds $70 million. The joint venture is expected to reach its full capacity by the end of 2019.
Hayat Pharm joint venture is a long term project focused onprovision of drug safety in Azerbaijan, public supply with high quality local pharm products, reduction of imported medicinal drugs and development of export potential. The pharm products to be produced at the enterprise are expected to be sold both in the domestic market and in the neighboring counties. Over 200 high capacity workplaces will be established within the project.
Drugs belonging to various pharm groups are planned to be produced at the enterprise, including oncological, antifungal, antiemetic, antiviral agents, anti-HIV therapy, drugs for the treatment of nervous disorders and diseases of cardiovascular, musculoskeletal and respiratory systems as well as antibiotics, antidiabetic medications, radiopaque contrast agents and magnetic resonance contrast agents. In total 89 types of medicines and 58 international generics will be manufactured at the enterprise. The plant capacity will be 22,5 million packages or 500 million tablets or capsules.
A new generation pharm production with a high degree of sterilization, automation and best-in-class manufacturing solutions will fully comply with the GMP requirements of good manufacturing practices and WHO Technical Report series, ISPE Good Practice Guide, and other relevant national and international regulations.
“It is very important for Azerbaijan to diversify its economy in order to depart from the raw material model. That is why it is necessary to develop non-primary business in order to minimize the risks that may occur due to exchange rate and energy price volatility. The pharm plant in Baku may become one of such production sites, – as Alexey Repik, President of the Russian company R-Pharm, puts it. – Due to technology transfer the new enterprise will be able to produce advanced highly efficient medicinal drugs for the treatment of cancer, hematological, autoimmune and endocrine diseases, HIV/AIDS, viral hepatitis of various types and other diseases”.
“The use of modern drugs produced on the territory of Azerbaijan will significantly improve the level of public medical supply and reduce the cost of care for patients as well as the financial burden on the healthcare system of the republic. Attractive investment climate created by the government of Azerbaijan for the development of the manufacturing sector andexport-oriented areas as well as establishment of a free economic zone, granting tax exemptions and other incentives for the development of private initiatives contribute to a more efficient implementation of complex innovative projects. This project will be a Russian-Azerbaijani contribution into the development of a new pharmaceutical industry and will further expand the export potential of our country,” said General Director of Vita-A Murad Sadykhov.