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.