President of the Republic of Azerbaijan Ilham Aliyev attended the opening of the "Gen Pharma Caucasus Manufacturing Operations" LLC medicine production facility in the Pirallahi Industrial Park on October 5.

Operativ Media reports that Minister of Economy Mikayil Jabbarov first briefed the head of state on the activities of industrial zones and the Pirallahi Industrial Park.

The Pirallahi Industrial Park was established by a decree signed by President Ilham Aliyev in 2016. Its primary goal is to develop and support the pharmaceutical industry, reduce import dependence on pharmaceutical products, promote local production to meet the population's demand for medicines, and increase employment in the manufacturing sector. Six residents are registered in the Pirallahi Industrial Park.

Currently, eight industrial parks operate in the country: Sumgayit Industrial Park, Mingachevir Industrial Park, Garadagh Industrial Park, Pirallahi Industrial Park, Aghdam Industrial Park, Hajigabul Industrial Park, "Araz Valley Economic Zone", and Balakhani Industrial Park. The foundation of the Nakhchivan Industrial Park was laid this year, and work is underway to establish the necessary infrastructure. Additionally, design work is being carried out to create the required infrastructure in the Western Industrial Park, which will cover the administrative territories of Ganja city and Shamkir district.

Abidin Gulmus, the founder of "Gen Pharma Caucasus Manufacturing Operations" LLC, briefed President Ilham Aliyev on the facility.

It was noted that the facility was granted resident status in the Pirallahi Industrial Park in 2023. Its founders are Türkiye's "Gen Ilac ve Saglik Urunleri Sanayi A.S." (66%), the Azerbaijan Business Development Fund (ABDF) under the Ministry of Economy (29%), and Türkiye's "SIA Pharmaceuticals" (5%). In addition to private investment, the financing of the project, which has a total value of 113.9 million manats, includes 13.2 million manats invested by the Azerbaijan Business Development Fund and 10 million manats in concessional loans. As a resident of the Industrial Park, the enterprise was exempted from more than 7 million manats in VAT and customs duties.

Covering an area of 5.2 hectares, the facility has an annual production capacity of 60 million boxes of medicine, including 2.5 billion tablets and capsules. It will produce medicines for cardiology, neurology, urology, diabetology, gastroenterology, as well as painkillers, antibiotics, and other pharmaceuticals.

The facility's development prospects include increasing production, localizing the manufacture of more than 500 drugs within five years, meeting domestic demand to the maximum extent, and expanding its export geography.

The plant is equipped with machinery manufactured by leading companies from the US, Japan, Germany, Switzerland, China, Denmark, Sweden, and Türkiye, enabling the production of medicines in compliance with high international standards. Along with sales in the domestic market, the products are planned to be exported to Uzbekistan, Kazakhstan, Georgia, and other foreign countries.

The facility will provide permanent employment for 178 people.

The enterprise also incorporates educational and scientific cooperation into its operations, establishing an official training base for Karabakh University and the Azerbaijan Medical University.