BAKU, Azerbaijan, May 4. The pharmaceutical
sector is of strategic importance for our country, Deputy Minister
of Economy Samad Bashirli said during his speech at the 2nd
International Conference "Azerbaijan Pharmaceutical Industry:
Yesterday, Today, and Tomorrow," Trend reports.
The Deputy Minister noted that the country's drug market
currently depends heavily on imports. According to statistical
indicators, local production accounts for only 2–3 percent of total
consumption:
"In recent years, the average annual growth in the drug market
has been approximately 2.7 percent. As a result of state support,
15.7 million manats worth of pharmaceutical products are produced
in the country. While this shows an increase in production, it is
still a small figure compared to total consumption. Currently, the
total volume of drug imports is about $500 million. Local
production covers a very small part of this amount. The main goal
is to ensure that a large part of consumption is met through local
production."
Bashirli emphasized that this is not just an economic issue but
a strategic target.
"The total value of projects implemented in the Pirallahi
Industrial Park, established in 2016, has already reached $150
million. At the same time, the value of projects for enterprises
located in the park and surrounding areas totals $300 million.
These indicators give reason to believe that starting from this
year, the pace of production in the pharmaceutical field will
increase manifold. As a result of the state's strategic
initiatives, new projects, and investments, local production will
expand, and its share in the country's drug supply will gradually
rise," he said.
He noted that while foreign pharmaceutical companies showed
little interest in 2006, interest has grown significantly since
2020. This is due to Azerbaijan's position as a stable and reliable
partner, as well as international companies' preference for
sustainable environments.
He also mentioned that favorable opportunities exist for
exporting Azerbaijani-made products to regional countries.
"We regularly launch new initiatives to ensure these processes
are sustainable. Various issues are raised by different parties to
ensure processes are more transparent, effective, and accessible.
Existing procedures regarding the registration, evaluation, and
market entry of new medicines will be discussed, and steps will be
taken to resolve them. It is also very important that
pharmaceutical companies in Azerbaijan share their views on a
single platform. This dialogue is crucial for the sector's
development," the Deputy Minister concluded.
