President Ilham Aliyev Inaugurates Pharmaceutical Manufacturing Plant in Pirallahi
Baku, The Gulf Observer: President of Azerbaijan Ilham Aliyev on Monday attended the inauguration of the pharmaceutical manufacturing plant operated by Gen Pharma Caucasus Manufacturing Operations LLC at Pirallahi Industrial Park.
Minister of Economy Mikayil Jabbarov briefed the president on the activities of Azerbaijan’s industrial zones and the development of Pirallahi Industrial Park.
Established by a presidential decree in 2016, Pirallahi Industrial Park aims to promote the pharmaceutical industry, reduce the country’s dependence on imported medicines, expand domestic pharmaceutical production and create new employment opportunities. Six enterprises have so far been registered as residents of the industrial park.
Azerbaijan currently has eight operating industrial parks: Sumgayit, Mingachevir, Garadagh, Pirallahi, Aghdam, Hajigabul and Balakhani industrial parks, as well as the Araz Valley Economic Zone Industrial Park. The foundation of Nakhchivan Industrial Park was laid earlier this year, while infrastructure design work is underway for the planned West Industrial Park covering the administrative territories of Ganja city and Shamkir district.
Founder of Gen Pharma Caucasus Manufacturing Operations LLC Abidin Gülmüş briefed President Aliyev on the pharmaceutical enterprise.
The company was granted resident status at Pirallahi Industrial Park in 2023. Its shareholders include Türkiye’s Gen İlaç ve Sağlık Ürünleri Sanayi A.Ş. with a 66-percent stake, the Azerbaijan Business Development Fund under the Ministry of Economy with 29 percent, and Türkiye’s SIA Pharmaceuticals with 5 percent.
The project represents a total investment of 113.9 million manats, financed through private investment alongside a 13.2 million-manat investment by the Azerbaijan Business Development Fund and 10 million manats in concessional financing.
As a resident of the industrial park, the enterprise has benefited from exemptions exceeding 7 million manats in value-added tax and customs duties.
Built on an area of 5.2 hectares, the plant has an annual production capacity of 60 million boxes of medicines, equivalent to around 2.5 billion tablets and capsules.
The facility will manufacture pharmaceutical products for the treatment of cardiovascular, neurological, urological, diabetic and gastrointestinal conditions, as well as painkillers, antibiotics and other medicines.
According to the company’s development plans, production capacity will be expanded, with more than 500 medicines expected to be localized within the next five years. The enterprise also plans to meet domestic demand to the greatest extent possible and expand its export markets.
The plant is equipped with machinery produced by leading companies from the United States, Japan, Germany, Switzerland, China, Denmark, Sweden and Türkiye, enabling the manufacture of pharmaceutical products in accordance with high international standards.
In addition to supplying the domestic market, the company plans to export its products to Uzbekistan, Kazakhstan, Georgia and other foreign markets.
The facility is expected to create 178 permanent jobs, contributing to the development of Azerbaijan’s domestic pharmaceutical manufacturing capabilities.
The enterprise is also placing emphasis on educational and scientific cooperation, including plans to establish an official training facility for Garabagh University and Azerbaijan Medical University.
