Gen Pharma Caucasus Manufacturing Operations company, a new resident of the Pirallahi industrial park in Azerbaijan, will build a pharmaceutical plant on its territory with an investment value of 59.3 million manat, or about $34.9 million at the current exchange rate.
The foundation-laying ceremony took place on Thursday. The plant will begin operating in 2026, an Interfax correspondent reported.
Gen Pharma Caucasus Manufacturing Operations LLC is a joint venture created by the Azerbaijan Investment Company (29% share), Turkiye’s Gen Ilac ve Saglik Urunleri Sanayi ve Ticaret A.S. (66%) and SIA Pharmaceutical LLC (5%).
Private investments account for 34% of the project cost, and loans will fund 66%.
The plant’s area at the first stage will be 5.1 hectares, while at the second, it will increase 2.7 hectares. Capacity is 50 million packages per year. The company will produce seven types of medicines (42 items), including tablets, capsules, syrups, and suspensions in various dosages using advanced Turkish technologies. In addition to supplying the domestic market, there are plans to export to countries in the CIS.
Image: eccenca
Source: interfax