Pakistani drugmakers eyeing Azerbaijan for JV manufacturing deals

Pakistan drug manufacturers are looking for joint ventures in Azerbaijan.

The Pakistani ambassador in Azerbaijan said several pharmaceutical companies from his country are looking to develop joint ventures in drug production in the country.

Khan Mohmand said Pakistan’s growing pharmaceutical industry is eyeing Azerbaijan for partnerships. In addition to drug manufacturing, Azerbaijan could also import surgical goods and medical instruments from Pakistan, he told Trend.

"They plan to create joint venture in the Pirallahi Industrial Zone, which offers tax reliefs," he said.

Currently, there are three pharma manufacturing plants under construction in the Pirallahi Industrial Park in Azerbaijan, which was created in 2016. Two of those facilities are part of joint ventures that include R-Pharm, a Russian company, and Tamin Pharmaceutical Investment Company of Iran.

Pakistan has about 400 pharmaceutical manufacturing facilities, including about 25 that are operated by multinational corporations. The country’s pharmaceutical industry meets around 70% of Pakistan’s demand for finished medicine.