President of the Republic of Azerbaijan Ilham Aliyev attended the inauguration of the pharmaceutical manufacturing plant of Gen Pharma Caucasus Manufacturing Operations LLC in Pirallahi Industrial Park on October 5.

Minister of Economy Mikayil Jabbarov first informed the head of state about the activities of industrial zones and the Pirallahi Industrial Park.

Pirallahi Industrial Park was established by a decree signed by President Ilham Aliyev in 2016. The main objective is to develop and support the pharmaceutical industry, reduce dependence on imports of pharmaceutical products, encourage local production to meet the population's demand for medicines, and increase employment in manufacturing. Six residents have been registered in Pirallahi Industrial Park.

Currently, there are eight industrial parks operating in Azerbaijan: Sumgayit Industrial Park, Mingachevir Industrial Park, Garadagh Industrial Park, Pirallahi Industrial Park, Aghdam Industrial Park, Hajigabul Industrial Park, Araz Valley Economic Zone, and Balakhani Industrial Park. The foundation of Nakhchivan Industrial Park was laid this year, with work underway to establish the necessary infrastructure. Design work is also being carried out to create the necessary infrastructure in the West Industrial Park, which will encompass the administrative territories of the city of Ganja and Shamkir district.

Abidin Gülmüş, founder of Gen Pharma Caucasus Manufacturing Operations LLC, informed President Ilham Aliyev about the enterprise.

The enterprise was granted resident status in Pirallahi Industrial Park in 2023. The founders are Türkiye's Gen İlaç ve Sağlık Ürünleri Sanayi A.Ş. (66%), the Azerbaijan Business Development Fund under the Ministry of Economy (29%), and Türkiye's SIA Pharmaceuticals (5%). The project, with a total value of 113.9 million manats, was financed through private investment as well as a 13.2 million-manat investment by the Azerbaijan Business Development Fund and 10 million manats in concessional financing. As a resident of the Industrial Park, the enterprise has been exempted from more than 7 million manats in VAT and customs duties..

Occupying an area of 5.2 hectares, the plant has an annual production capacity of 60 million boxes of medicines, including 2.5 billion tablets and capsules. The facility will produce medications for cardiology, neurology, urology, diabetology, gastroenterology, as well as painkillers, antibiotics, and other pharmaceuticals.

The enterprise’s development plans include increasing production, localizing the production of more than 500 medicines within five years, meeting domestic demand to the maximum extent possible, and expanding its export geography.

The factory is equipped with machinery manufactured by leading companies from the United States, Japan, Germany, Switzerland, China, Denmark, Sweden, and Türkiye, enabling the production of pharmaceutical products in line with high international standards. In addition to sales on the domestic market, the products are also planned to be exported to Uzbekistan, Kazakhstan, Georgia and other foreign countries.

The plant will provide permanent employment for 178 people.

The enterprise also places emphasis on educational and scientific cooperation, including the establishment of an official training facility for Garabagh University and Azerbaijan Medical University.