Monday, July 15, 2024

Iran Achieves Self-Sufficiency in Pharmaceutical Production

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The Chairman of the Syndicate of Pharmaceutical, Chemical, and Packaging Material Producers announced that 70% of the active pharmaceutical ingredients (APIs) are now produced domestically, a figure more than double that of European countries. Speaking at the Pharmex 2024 exhibition in Shahr-e-Aftab, Faramarz Ikhtiraei highlighted Iran’s progress in pharmaceutical production despite severe international sanctions.

Ikhtiraei noted that since the Islamic Revolution, Iran has achieved near self-sufficiency in pharmaceutical production, including the production of raw materials and necessary equipment. Today, Iran not only meets its domestic pharmaceutical needs but also actively engages in exporting pharmaceutical products and packaging materials. The country has signed 16 contracts with other nations for the transfer of technical knowledge and production of new molecules, underscoring its capability in pharmaceutical innovation and manufacturing.

Regional Interest in Iranian Expertise

He further explained that the COVID-19 pandemic underscored the importance of self-reliance in drug production globally. While many advanced countries lag in this aspect, producing only about 30% of their pharmaceutical raw materials domestically, Iran produces 70% of its needs within the country. This significant achievement positions Iran as a leader in pharmaceutical self-sufficiency and innovation.

Ikhtiraei mentioned that neighboring and friendly countries are keen on importing Iran’s technical knowledge and technology. Iran is currently in discussions with countries such as Cuba, Nicaragua, Venezuela, and Algeria to share expertise and technology in pharmaceutical production. This collaboration aims to enhance regional pharmaceutical capabilities and foster mutual growth in the sector.

Continued Exhibition and Participation

The Pharmex 2024 exhibition, which will continue until July 7, hosts 480 companies specializing in the production of raw materials, pharmaceutical equipment, laboratory supplies, herbal medicines, and pharmaceutical packaging. The event in Shahr-e-Aftab provides a platform for showcasing Iran’s advancements in the pharmaceutical sector and its growing role in the global market.

This exhibition highlights Iran’s commitment to achieving greater self-sufficiency and establishing itself as a key player in the global pharmaceutical industry. With ongoing international collaborations and a robust domestic production framework, Iran is well-positioned to continue its growth and innovation in this critical field.

Focus on Innovation and Self-Sufficiency

The emphasis on producing a majority of pharmaceutical raw materials domestically not only secures Iran’s pharmaceutical needs but also drives innovation within the industry. The country’s ability to produce 70% of its pharmaceutical raw materials locally sets a benchmark for self-sufficiency that other nations can aspire to. By focusing on domestic production, Iran reduces its dependency on international suppliers and strengthens its pharmaceutical supply chain resilience. This strategic approach ensures that Iran can meet its pharmaceutical demands even in the face of global supply chain disruptions.

Pharmex 2024 serves as a crucial event for stakeholders in the pharmaceutical industry, providing insights into the latest developments and trends in pharmaceutical production and technology. The participation of 480 companies from various sectors of the pharmaceutical industry highlights the exhibition’s importance as a hub for innovation, collaboration, and knowledge exchange. The event also underscores Iran’s significant achievements in pharmaceutical production and its potential for further growth and development in the industry.

Pharmaceutical Production

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Future Prospects

Looking ahead, Iran aims to build on its current successes by continuing to enhance its pharmaceutical production capabilities and expanding its international collaborations. The focus on technical knowledge transfer and innovation will play a crucial role in sustaining and advancing Iran’s position in the global pharmaceutical market. With a strong foundation in domestic production and ongoing efforts to collaborate with other countries, Iran is poised to achieve even greater milestones in the pharmaceutical sector.

The announcement by the Chairman of the Syndicate of Pharmaceutical, Chemical, and Packaging Material Producers highlights Iran’s remarkable achievements in pharmaceutical production. The country’s ability to produce 70% of its pharmaceutical raw materials domestically is a testament to its innovation and resilience. The Pharmex 2024 exhibition provides a platform to showcase these advancements and foster international collaborations, positioning Iran as a leader in the global pharmaceutical industry.

 

Resource: Tasnim Nnews Agency, July 04, 2024

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