Domestic production to save $570m in medicine imports

January 13, 2020 - 16:37

TEHRAN – A plan on domestic production of 135 medicines is on the agenda, which will save up to $570 million per year, Mostafa Qane’ei, secretary of the Vice Presidency for Science and Technology for biotechnology development, has said.

“We have set a goal to reduce medicine imports by one billion dollars [per year],” he added.

According to the plan, one year after the production of 135 pharmaceutical products, $160 million in savings will be achieved, he noted.

Production of 44 out of the 135 products has started, of which seven are biological medicines and 37 are pharmaceutical raw materials, he explained.

According to Amir Hossein Mo'eini Zandi, vice president of the union of medicine importers, $1.373 billion was allocated to pharmaceutical companies for medicine imports in the past Iranian calendar year (ended March 20, 2019).

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