Azerbaijan annually imports pharmaceutical products worth $300 million

Chairman of the board of the Azerbaijan Small and Medium Business Development Agency Orkhan Mammadov has said that Azerbaijan annually spends an average of $300 million on the import of pharmaceutical products.

Mammadov made the remarks at the third Republican Conference of Pharmacists, organised through the support of the Agency on the occasion of World Pharmacists Day on October 7, Report informs.

The development of the pharmaceutical sector will also serve to reduce the outflow of foreign currency from Azerbaijan and attract new investments, Mammadov noted.

“The establishment of enterprises for the production of medical products in Azerbaijan is important in terms of developing the country's economic industry and increasing the share of the non-oil sector. The COVID-19 pandemic has once again highlighted the importance of self-sufficiency in medical supplies. Huge work related to the development of both the pharmaceutical and medical industries was carried out in Azerbaijan both during the COVID-19 pandemic and before it. The Pirallahi Industrial Park, which specialises in pharmaceuticals, is of great importance in this issue,” he said.