Ilham Aliyev attended the opening of a pharmaceutical manufacturing facility in the Pirallahi Industrial Park

On October 5, President of the Republic of Azerbaijan Ilham Aliyev participated in the opening of the pharmaceutical manufacturing enterprise Gen Pharma Caucasus Manufacturing Operations LLC at the Pirallahi Industrial Park.

As reported by BAKU.WS, Minister of Economy Mikayil Jabbarov first briefed the head of state on the activities of industrial zones and the Pirallahi Industrial Park.

It should be noted that the Pirallahi Industrial Park was established by a Decree signed by President Ilham Aliyev in 2016. The main objectives are the development and support of the pharmaceutical industry, reducing dependence on imports of pharmaceutical products, stimulating local production to meet the population's needs for medicines, and increasing employment in the manufacturing sector. Six residents are registered at the Pirallahi Industrial Park.

Currently, 8 industrial parks are operating in our country – the Sumgayit, Mingachevir, Garadagh, Pirallahi, Aghdam, Hajigabul industrial parks, the "Araz Valley Economic Zone," and the Balakhani Industrial Park. This year, the foundation of the Nakhchivan Industrial Park was laid, and work is underway to create the necessary infrastructure. In addition, design work is being carried out to create the necessary infrastructure on the territory of the Western Industrial Park, which will cover the administrative territories of the city of Ganja and the Shamkir district.

Founder of Gen Pharma Caucasus Manufacturing Operations LLC Abidin Gülmüş briefed President Ilham Aliyev about the enterprise.

It was reported that in 2023, this enterprise received the status of a resident of the Pirallahi Industrial Park. The founders are the Turkish company Gen İlaç ve Sağlık Ürünleri Sanayi A.Ş. (66%), the Azerbaijan Business Development Fund (ABDF) under the Ministry of Economy (29%), and the Turkish company SIA Pharmaceuticals (5%). Along with private investments, the project with a total value of 113.9 million manats was financed through investments from the Azerbaijan Business Development Fund in the amount of 13.2 million manats and a preferential loan of 10 million manats. As a resident of the industrial park, the enterprise was exempted from VAT and customs duties totaling more than 7 million manats.

The annual production capacity of the enterprise, located on a territory of 5.2 hectares, is 60 million packages of medicines, including 2.5 billion tablets and capsules. Cardiology, neurology, urology, diabetology, gastroenterology medicines, painkillers, antibiotics, and other drugs will be produced here.

The enterprise's development prospects include increasing production, localizing the production of more than 500 medicines within 5 years, maximizing the satisfaction of domestic demand, and expanding the geography of exports.

The plant is equipped with machinery from leading companies in the USA, Japan, Germany, Switzerland, China, Denmark, Sweden, and Turkey, enabling the production of medicines in accordance with high international standards. Along with selling products on the domestic market, exports to Uzbekistan, Kazakhstan, Georgia, and other foreign countries are planned.

178 people will be provided with permanent employment here.

The enterprise has also allocated space for educational and scientific cooperation. Thus, an official training base for Karabakh University and Azerbaijan Medical University has been established here.

Gallery