Pirallahi:President of Azerbaijan Ilham Aliyev attended the inauguration of a new pharmaceutical manufacturing plant operated by Gen Pharma Caucasus Manufacturing Operations LLC at Pirallahi Industrial Park.
According to Azeri-Press News Agency, Minister of Economy Mikayil Jabbarov provided President Aliyev with details regarding the industrial zones and the Pirallahi Industrial Park. Established in 2016, the park aims to advance the pharmaceutical sector, decrease reliance on pharmaceutical imports, stimulate local production to satisfy domestic medicine needs, and boost employment. Currently, Pirallahi Industrial Park hosts six registered residents among the eight industrial parks across Azerbaijan.
The newly inaugurated plant is a joint venture with Gen Ila§ ve Saglik Årnleri Sanayi A.S. from Turkiye holding a majority stake, alongside the Azerbaijan Business Development Fund and SIA Pharmaceuticals. The project, valued at 113.9 million manats, is supported by private investment and contributions from the Azerbaijan Business Development Fund. The enterprise benefits from tax exemptions and concessional financing as a resident of the industrial park.
Spanning 5.2 hectares, the facility is equipped with advanced machinery from global leaders, enabling an annual output capacity of 60 million boxes of various medications. The plant will initially produce a range of pharmaceuticals, including cardiology, neurology, and gastroenterology drugs, with future plans to expand production and export to countries such as Uzbekistan and Kazakhstan.
The plant aims to meet domestic pharmaceutical demands while providing employment for 178 people. It also plans to foster educational and scientific partnerships, including establishing a training facility for Garabagh University and Azerbaijan Medical University.