In the joint participation of local and Russian business in Azerbaijan it is planned to build a modern high-tech pharmaceutical enterprise. The project is going to be realized by the Azerbaijani company Vita-A together with its partners - the Russian group of companies R-Pharm and Azerbaijan Investment Company (AIC).
Within the framework of the Azerbaijani-Russian business forum a Memorandum of Understanding for the organization of modern pharmaceutical production in Azerbaijan in accordance with international standards was signed in Baku today.
The parties have committed through the specially created joint venture Hayat Farm to launch a project on the territory of Azerbaijan.
On the part of R-Pharm the Memorandum was signed by the Commercial Director Andrei Burhanov, on the part of Vita-A – by the General Director Murad Sadikhov, and on the part of Azerbaijan Investment Company – by the Executive Director Rovshan Najaf.
The joint venture Hayat Pharm was established by the parties in order to implement the long-term program to create the first in Azerbaijan pharmaceutical complex, consisting of manufacturing, laboratory and logistics units. The project involves the construction in partnership with leading companies-developers of the modern enterprise with advanced international technology and experience of R-Pharm. The project will be carried out with analytical and technological transfers and local high-skilled jobs in the field of pharmaceutical production.
Organization of pharmaceutical production in accordance with international standards will be divided into three successive stages: 1) the organization of the production of packaging, 2) the organization of the production of intermediates; 3) organization of the production of a full cycle. Advanced technological solutions, equipment and engineering from leading European companies will be used to implement the project.
Pharmaceutical production of a new generation with a high degree of sterilization, automation and best-in-class manufacturing solutions will fully comply with the GMP requirements of good manufacturing practices and WHO Technical Report series, ISPE Good Practice Guide, and other relevant national and international regulations.
The overall indicative amount of investment exceeds EUR 70 million. The expected release date of the joint venture to its full capacity is the end of 2019.
"Thanks to technology transfer, the new company will be able to produce modern highly efficient drugs for the treatment of cancer, hematological, autoimmune and endocrine diseases, HIV / AIDS, viral hepatitis of various types and other diseases, said the Chairman of the Board of Directors of R-Pharm Alexey Repik. - The use of modern drugs, produced on the territory of Azerbaijan, will significantly improve the level of health of the population, as well as reduce the cost of care for patients and the financial burden for the health system of the republic. "
"Attractive investment climate created by the government of Azerbaijan for the development of non-oil sector, export-oriented areas, the establishment of a free economic zone, tax breaks and other incentives for the development of private initiatives contribute to a more efficient implementation of complex innovation projects. This project will be the Russian-Azerbaijani contribution to the development of new pharmaceutical industry and will further expand the export potential of our country," said General Director of Vita-A Murad Sadikhov.
In the joint venture Hayat Pharm 55 per cent of the equity is owned by LLC Vita-A, and 45 per cent – by R-Pharm. According to the agreement, after the development and approval of the business plan of the joint project founders, AIC will acquire 10 percent of the equity of Vita-A in the Hayat Pharm.
R-Pharm is a Russian high-tech pharmaceutical company. R-Pharm works on the whole territory of the Russian Federation, the CIS countries, the USA, Germany, Japan, Turkey and India. There are more than 60 branches and representative offices. The main activities are: production of finished dosage forms, active pharmaceutical ingredients and chemical nature of the biotechnological substances, research and development of innovative products and technologies in the market of the medicinal products, as well as education and training of specialists for the pharmaceutical industry and healthcare. www.r-pharm.com
AIC was established by Presidential Decree of 30 March 2006 in order to support the development of the country's non-oil sector by term investments.
LLC Vita-A is an Azerbaijani private company established in 2015 with the purpose of realization of innovative high-tech projects, including in the fields of medicine and pharmaceuticals. On the basis of the Vita-A team a professional team of JV Hayat Pharm was formed with the participation of experts in the fields of oncology, hematology, neurology, treatment of AIDS, hepatitis and others. For a short period after the start of operations, the company has formed a team of professionals with vast experience in the domestic and foreign markets. In addition, the team Hayat Pharm includes specialists in the field of high technology, ensuring the implementation of the latest scientific and medical research and applications. -06d--
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