24 Jan 2017 16:09

Azerbaijan, Russian R-Pharm to launch $74 mln pharmaceutical plant in 2019

BAKU. Jan 24 (Interfax) - An Azerbaijani-Russian pharmaceutical plant, Hayat Pharm, that will cost $74 million to build, will start up production in 2019, an Azerbaijani Economy Ministry representative told Interfax.

The joint venture was created by Azerbaijan Investment Company, Azerbaijani Vita-A and Russian R-Pharm. The ceremonial laying of the cornerstone took place in November 2016.

Hayat Pharm will have capacity to produce 22.5 million packages or 500 million tablets and capsules a year. "In the initial stage, the plant will manufacture 89 established drug names," the representative said. Output will be exported to Georgia, Iran, Turkey, Germany, Switzerland, Ukraine and Central Asian countries.