In the next five years, the manufacturing of pharmaceutical products in Azerbaijan will grow 58.4 times. This follows from the concept of socio-economic development for 2018 and subsequent three years submitted for discussion to the parliament.
According to the document, in 2017, the volume of manufactured pharmaceutical products will amount to 1.5 million manats; and, in 2018, to 1.9 million manats.
Currently, this area is virtually undeveloped in Azerbaijan, as most of the drugs and other pharmaceutical products are imported from abroad. The country has a number of enterprises with a narrow specialization, such as Azer-Yod. However, Azerbaijan still has no production facilities for manufacturing tablets, antibiotics, and other drugs.
To change this situation, the country began the build Pirallahi industrial Park in September 2016. Currently, the industrial park has become the construction site for a plant built by Diamed C, an Azerbaijani company, and two pharmaceutical plants with foreign capital participation, including one Azerbaijani-Russian plant and one Azerbaijani-Iranian plant. A similar agreement was recently signed with Indar, an Ukrainian company.
At the same time, the companies from Belarus, South Korea, and Japan show the interest in building the pharmaceutical plants in Azerbaijan.