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Iranian Medicines Match Quality of Foreign Counterparts: 72% of Raw Materials Produced Domestically

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The Chairman of the Syndicate of Producers of Pharmaceutical, Chemical, and Packaging Materials emphasized that Iranian medicines are on par with foreign counterparts in terms of quality. No global research has questioned the quality of Iranian medicines.

At a press conference for the 6th Pharmex exhibition held on May 14, 2024, Faramarz Ekhtiarai, Chairman of the Syndicate of Producers of Pharmaceutical, Chemical, and Packaging Materials, discussed various aspects of the pharmaceutical industry and its raw material supply. He noted that factors such as currency price changes, the implementation of the Daroyar plan, primary needs provision, changes in the Food and Drug Administration, and shifts in the Ministry of Industry, Mine, and Trade impact the pharmaceutical industry.

Ekhtiarai highlighted that the Pharmex exhibition provides a valuable opportunity for Iran’s pharmaceutical industry. This event can attract scientific figures and help stabilize the coordinates of the country’s sustainable pharmaceutical sector.

Multinational Companies Dominate Iran’s Medicine Market, Spending $1.5 Billion on Imports

Regarding the involvement of multinational companies in Iran’s pharmaceutical industry, Ekhtiarai revealed that about $1.5 billion was spent on importing medicines over the past two years. If calculated at the current exchange rate of 60,000 rials per dollar, this amounts to 90 trillion rials spent on drug imports. Notably, 80% of the pharmaceutical market is controlled by multinational companies, leaving only 20% for domestic producers.

Ekhtiarai criticized the pricing of drugs by multinational companies, stating that sometimes a drug produced by these companies can cost up to 20 times more than a similar drug made by a domestic company. He affirmed that Iranian-made drugs are equivalent in quality to foreign ones and emphasized that quality assessments must be based on evidence. No global studies have questioned the quality of Iranian pharmaceuticals.

Ekhtiarai also noted that Iran holds a leading position in drug production within the region, especially in producing pharmaceutical raw materials. He mentioned that, as of 2022, approximately 72% of the raw materials for medicines are produced domestically, and all packaging is done within the country. Updated statistics for 2023 will be released in the coming months.

Iranian Medicines

Iran’s Medicine Industry Emphasizes Quality and Cost-Effectiveness of Domestic Drugs

Shahriar Omidvar, another board member of the Syndicate, emphasized the importance of the pharmaceutical raw material industry, describing it as the first station in drug production. He pointed out that both human resources and raw materials are pivotal for development. Omidvar highlighted that Iran’s pharmaceutical standards, particularly the USP (United States Pharmacopeia) standard, are highly respected globally and cannot be questioned by any specialist or company worldwide.

Mohammad Reza Mousavi, also a board member, stressed that domestically produced drugs must be highly effective. He reiterated that the quality of Iranian drugs matches that of foreign ones. He also mentioned that Turkey allocates about $22 billion annually for drug imports, whereas Iran allocates around $4 billion.

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Mousavi pointed out that the low cost of Iranian drugs is a significant advantage. For instance, the price of syrup in Iran is around 20,000 rials, while a similar supplement costs about 130,000 rials. He argued that if a drug is not economically viable to produce, it cannot be justified from a production standpoint.

 

Resource: Iranian Students News Agency, May 13, 2024

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