President Ilham Aliyev participated in the opening of a pharmaceutical manufacturing enterprise

President of the Republic of Azerbaijan Ilham Aliyev participated in the opening of the pharmaceutical manufacturing enterprise Scandens Pharmaceutical Industries Ltd LLC in the Hokmali settlement of Absheron district.

As reported by BAKU.WS with reference to AZERTAC, Minister of Economy Mikayil Jabbarov and General Director Kamran Hasanov informed the head of state about the enterprise.

The enterprise, designed in accordance with international standards, is equipped with advanced technologies and equipment from Germany, Switzerland, and Italy. Throughout the year, it will produce about 800 million tablets and capsules of antibiotics, diabetological, hepatological, cardiological, andrological, antiallergic drugs, and medications used in gastroenterology. The manufactured products will be supplied to both the domestic market and, in the future, for export. The enterprise has created 120 jobs.

The project, worth 74 million manats, was implemented through private investment. Within the framework of the investment incentive document provided by the Ministry of Economy, the enterprise received a tax exemption on imported equipment amounting to 6.5 million manats.

The launch of the enterprise is regarded as a new stage in the development of the pharmaceutical industry in Azerbaijan. All stages of pharmaceutical production - from raw materials to finished products - will be carried out here. The new enterprise will contribute to the development of the country's pharmaceutical industry and strengthen local production. The production of competitive products that meet local and international requirements will also expand our country's export opportunities.

Additionally, the enterprise will serve as a base for training professional personnel in the pharmaceutical field and developing their practical skills. Within the framework of a quadrilateral memorandum signed between Scandens Pharmaceutical Industries Ltd LLC, Azerbaijan Medical University, the University of Pécs in Hungary, and Panon Pharma company, short-term and long-term training and internship programs for pharmacists and specialists of other profiles are planned to be implemented here.

President Ilham Aliyev put the enterprise into operation.

On the roof of the enterprise, 710 solar panels with a total capacity of 450 kW/h have been installed, which will cover about 40% of the consumed energy.