Monday, July 15, 2024

New Import Restrictions on Pharmaceutical Raw Materials Announced in Iran

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The head of the Food and Drug Administration (FDA) announced the creation of a new list of import restrictions on pharmaceutical raw materials that have domestic equivalents. Speaking at the opening of the sixth International Pharmex 2024 exhibition in Shahr-e-Aftab, Seyyed Heydar Mohammadi emphasized the positive state of domestic pharmaceutical production and exports.

Mohammadi reported that the pharmaceutical market volume in the past three months reached approximately 45 trillion IRR, with 98% of this volume produced domestically. He highlighted that major challenges include currency issues and liquidity, particularly the lack of capital return in government medical centers. The financial strain on the pharmaceutical sector due to delayed payments by government entities poses a significant hurdle for sustained growth and innovation.

He called on the Social Security Organization to settle its debts with pharmaceutical and medical equipment companies. This is crucial to address financial shortfalls and ensure the stability of the pharmaceutical sector. Mohammadi stressed that settling these debts would help alleviate the financial pressure on companies, enabling them to reinvest in production and improve the quality of pharmaceuticals available in the market. Additionally, timely payments would enhance the liquidity of these companies, allowing them to better manage their operational costs and reduce the dependency on external financing. This step is vital to maintaining the momentum of the domestic pharmaceutical industry and ensuring the availability of essential medications to the public.

Improvements in Financial Allocation

The FDA head mentioned that 15 trillion IRR from the Daroyar scheme has been allocated this year. Although not a substantial figure, it marks an improvement from the previous year. He also stressed the importance of facilitating matters related to pharmaceutical companies, acknowledging the difficulty of such tasks.

Mohammadi underscored the need for the government to reduce its size and outsource non-governing duties. With 62 medical universities, these processes should be streamlined through such institutions to improve efficiency. This decentralization would enable quicker decision-making and implementation of policies tailored to the unique needs of different regions, fostering a more responsive and adaptive healthcare system.

Pharmaceutical Raw Materials

Upcoming Import Restriction List

He announced the initiation of the pharmaceutical raw materials statistical report and mentioned that a new list of import restrictions, covering 270 types of pharmaceutical raw materials, will soon be issued by the General Directorate of Drugs. This list aims to support domestic production and reduce reliance on imports. By focusing on locally available raw materials, the FDA aims to bolster the domestic pharmaceutical industry’s capacity to produce high-quality drugs at competitive prices.

This move is also expected to stimulate innovation within the industry as companies explore new ways to utilize locally sourced materials. Furthermore, the restriction list is part of a broader strategy to enhance the sustainability of the pharmaceutical supply chain, ensuring that essential drugs remain accessible to the population even amid global supply chain disruptions. This policy reflects a commitment to self-sufficiency and the long-term resilience of the healthcare sector.

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