Iran inks agreements with foreign pharmaceutical companies

Iran has signed agreements with major drug producing companies for medicine production, said Head of Iranian Drug Producers Association Naser Riyahi.

Iran’s drug imports totaled nearly $1 billion over the last Iranian calendar year, which ended on March 20, 2016, he said.

There is no home-made version for the imported drugs, he said, adding sometimes the locally-produced drugs are unable to meet the market needs and that is why certain medicines are imported to Iran.

He further said that Iran has signed an agreement with an Austrian company to accomplish a semi-built drug factory.

The company used to produce drugs in India and export them to Afghanistan, Tajikistan, Georgia and Iran, he said, adding the agreement is being implemented and the companies’ drugs are made in Iran.

Riyahi further noted that a very large German serum-producer company has signed an agreement with Iran and would soon start making the product inside the country.

He continued that French multinational pharmaceutical company Sanofi plans to make drugs for specific diseases in Iran.

According to the Iranian official, Iran has inked an agreement with Danish Novo Nordisk drug-maker to make insulin and diabetes-related diseases medicine.