Biotech holds 40% share of pharmaceutical exports

September 18, 2022 - 18:6

TEHRAN – Some 40 percent of the country's total pharmaceutical exports are biotechnology products, a member of the board of directors of the Association of Manufacturers and Exporters of Medical Biotechnology Products, has said.

Self-sufficiency in the production of these products is unique compared to other countries in the world, Bardia Farzanfar added.

He went on to explain that biotechnology refers to the use of living systems and organisms to develop products or any technological application that uses biological systems, organisms, or their derivatives to create or modify certain products or processes.

The production costs of biotechnology products are different from chemical drugs and have brought 10 times foreign exchange savings for the country, and many knowledge-based companies have achieved self-sufficiency in the production of these products without depending on other countries.

Iran’s biotechnology products are exported to European, Asian, and Latin American countries, and Iran's technology can compete with other countries in this field, he further highlighted.

About 80 percent of biotechnology molecules are produced in the country, and we are the second country in the world in the production of these products.

“We are also self-sufficient in the production of products derived from plasma, and we have designed and established the formula of these products,” he said.

There are more than 500 knowledge-based companies active in the field of biotechnology, and about 16 companies operate in the field of medicine.

Biotechnology development

Currently, 20 to 30 types of biotech medicine are produced in the country in addition to kits, vaccines, and blood products. Also, 80 percent of biotechnology pharmaceutical items are domestically produced.

Iran’s biotechnology products are exported to European, Asian, and Latin American countries. Biotechnology today is widespread in all fields and is no longer limited to biomedical drugs so it has replaced the injured limbs.

The Vice Presidency for Science and Technology is set to achieve a 3 percent share of the global biotechnology market.

In May 2021, the Biotechnology Development Council launched 129 production projects with the aim of saving up to $1.44 billion in foreign currency.

Iran is ranked 12th in the world and first in West Asia in terms of biotechnology, as 9.5 percent of the income of knowledge-based companies and more than 60 percent of their exports are related to biotechnology.

Foreign exchange savings of $1 billion per year by producing 22 biopharmaceuticals, gaining the first rank in biotechnology products and vaccines in West Asia, and the presence among the top five biotechnology producers in Asia are among the country’s achievements, Mostafa Ghanei, secretary of the biotechnology development office of the Vice Presidency for Science and Technology, said in October 2020.

So far, 27 biotechnology medicines, 12 vaccine projects, 90 pharmaceutical raw materials, and 55 projects in agriculture and food security have been implemented in order to gain a 3 percent market share and biotechnology assistance to the development of the economy, he explained.

FB/MG


 

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