The first pharmaceutical economic special zone in Iran will be created by April 2017. This news was announced as Barekat Pharmaceutical Group went public on Sunday 5 February 2017.
“This pharmaceutical industrial-town has already received the Governmental approval to become an economic special zone. Currently, a number of pharmaceutical manufacturers are located in this town. This region will host pharmaceutical research centers as well as manufacturing of other facilities”, explained Mohammad Nematzadeh, Minister of Industry, Mining and Trade.
Mohammad Rezvanfar, Member of the Board of Directors at Barekat Pharmaceutical Group, has said that two international companies have visited and invested in this town. Barekat group has already assigned 20 hectares land to subsidiaries of Nov Nordisk from Denmark and Vitabiotics from U.K.
Barekat Pharmaceutecal Group is a subsidiary of The Executive Headquarters of Imam Khomeini’s Directive. Barekat Pharmaceutical Group has 12% of the Iranian pharmaceutical market and manufactures 540 different types of medicine.
95% of pharmaceuticals used in Iran are produced domestically and only 5% are imported. Meanwhile, this 5% imported drugs, is valued equal to 40% of the market. Iran pharmaceutical companies are seeking long-term relations with the world’s top pharmaceutical companies with the aim of producing some of these expensive brand drugs domestically.
“Barekat Group is expected to receive 2.8 billion IRR ($86m) investment. Our other active areas include investment in medicinal plants, E-Health and medical equipment”, added Rezvanfar.
Barekat Pharmaceutical Group offered 10% of its shares on Tehran Stock Exchange. Barekat Pharmaceutical Town is about 70 Km from Tehran, next to Karaj-Qazwin highway.
Source: Barekat Pharmaceutical Group Official Reports
