$67M Pharmaceutical Plant Opens in Azerbaijan’s Pirallahi Park

FTZ News: President Ilham Aliyev went to the opening of a drug plant in the Pirallahi Industrial Park. The Europe Today reported it on Oct. 5. Economy Minister Mikayil Jabbarov was there. The founder in the account is Abidin Gülmüş. The company running the plant is Gen Pharma Caucasus Manufacturing Operations LLC, linked to Gen İlaç ve Sağlık Ürünleri Sanayi A.Ş.

The plant was set up in 2016. It got resident status in the park in 2023. Investment is put at 113.9 million manats. The Azerbaijan Business Development Fund put in 13.2 million. Concessional loans came to 10 million. Breaks on value-added tax and customs duties were more than 7 million. SIA Pharmaceuticals is also named. The story does not say who owns what share.

Output is given as 60 million boxes a year, or 2.5 billion tablets and capsules. The drugs listed are for cardiology, neurology, urology, diabetology and gastroenterology, plus painkillers, antibiotics and other products. Permanent jobs are put at 178. Over five years the plan is to make more than 500 medicines locally and to expand.

Aliyev is not quoted. No date is given for the first commercial batch. The story also names Sumgayit, Mingachevir, Garadagh, Aghdam, Hajigabul, Balakhani, the Araz Valley Economic Zone, Nakhchivan, Ganja and Shamkir, and does not say what those places have to do with this plant./.


photo: www.aztv.az