Azerbaijan has opened a 113.9 million-manat ($67 million) pharmaceutical plant in Pirallahi Industrial Park with planned annual capacity of up to 60 million packages of medicines.
President Ilham Aliyev attended the opening of Gen Pharma Caucasus Manufacturing Operations on Oct. 5. Project details were published by the presidential press service and reported by ABC.AZ.
Investment and Ownership
The plant was built on a 5.2-hectare site. Türkiye’s Gen İlaç ve Sağlık Ürünleri Sanayi A.Ş. holds a 66% stake, the Azerbaijan Business Development Fund owns 29%, and Türkiye’s SIA Pharmaceuticals holds 5%.
The Business Development Fund invested 13.2 million manats and provided 10 million manats in concessional financing. As an industrial-park resident, the company received more than 7 million manats in value-added tax and customs exemptions.
Capacity and Product Range
The facility is designed to produce as many as 2.5 billion tablets and capsules, packaged in up to 60 million boxes, each year. It plans to manufacture medicines used in cardiology, neurology, urology, diabetes care and gastroenterology, as well as painkillers and antibiotics.
The company aims to localize production of more than 500 medicines within five years. Its stated goals are to meet a significant share of Azerbaijan’s domestic demand and export products, initially to Uzbekistan, Kazakhstan and Georgia.
The plant has created 178 permanent jobs and is expected to serve as a training base for Karabakh University and Azerbaijan Medical University.
Pirallahi Industrial Park was established in 2016 to develop domestic pharmaceutical manufacturing and reduce import dependence. Six residents are currently registered in the park.