12:47 - 4.05.2026
May 4, Fineko/abc.az. The pharmaceutical industry is of strategic importance for Azerbaijan.
ABC.AZ reports that Deputy Minister of Economy Samad Bashirli made the relevant statement at the II International Conference "The Azerbaijani Pharmaceutical Industry: Yesterday, Today and Tomorrow".
He pointed out that country's pharmaceutical market is currently heavily dependent on imports. According to statistical data, the share of local production is only 2-3% of overall consumption.
The dmputy Minister noted that in recent years, average annual growth of the pharmaceutical market has been around 2.7%. As a result of state support, the country has established the production of medicinal products worth 15.7 million manats. Although this indicates an increase in production, the indicator still remains insignificant compared to total consumption.
Currently, the total volume of drug imports is approx. $500 million, while local production covers only a small part of this amount. The main goal is to ensure a significant share of consumption through domestic production.
Bashirli stressed that this is not only an economic issue, but also a strategic task.
He added that the total volume of projects implemented in the Pirallakh Industrial Park, established in 2016, has already reached $150 million.
