38425
Swiss Pharma Firm to Invest in Iran
Economy, Business And Markets

Swiss Pharma Firm to Invest in Iran

One of Europe’s largest manufacturers of generic drugs, Chemo Company, has signed an agreement with the Barkat Pharmed Company to invest in one of the subsidiaries of the Iranian pharmaceutical holding.
The first phase of the deal, signed on Monday in Tehran, entails an investment of more than $15 million by the European side to establish a plant for producing pharmaceutical raw materials, Donya-e-Eqtesad reported.
The Switzerland-based Chemo Company, established in 1977, is engaged in trading active pharmaceutical ingredients and is a subsidiary of the multinational Grupo Insud. The pharmaceutical sector is one of the most attractive sectors for investment in Iran, considering the country’s potential.
Iran is the largest manufacturer of generic chemical drugs across the Middle East and North Africa with a market of 79 million people. Chemo is the second foreign company to finalize talks for investment in a post-sanction pharmaceutical sector.
Late in 2015, Danish pharmaceutical giant Novo Nordisk signed a memorandum of understanding with Iran’s Health Ministry to build a $78 million manufacturing plant in Iran.
Novo Nordisk has been manufacturing in Iran through a local partner since 2002, serving about 700,000 Iranian diabetics through its manufacturing partnership.
However, the latest plant would see the first among giant pharmaceutical firms to set up its own factory in Iran.

Short URL : http://goo.gl/e3Cdjw
  1. http://goo.gl/orxxNn
  • http://goo.gl/P90hRx
  • http://goo.gl/Vj8vjD
  • http://goo.gl/SyHmzg
  • http://goo.gl/7mlUxf

You can also read ...

Iran Receives First Round of Post-Sanctions Finance From European Banks
In what were the first finance deals clinched with cautious...
Indian Bank to Extend $150m for Chabahar Development
Iran is expected “very soon” to approach India’s Exim Bank...
TEDPIX soared by 3,459 points or 4.2% during the sixth month of the year–the highest monthly rise recorded so far this year.
Tehran Stock Exchange’s primary index TEDPIX gained 8,346.3...
Gold Coin Hits 3-Week Low
Gold coin prices are modestly down and hit a three-week low in...
Roads and Urban Development Minister Abbas Akhoundi has...
68% of Non-Oil Exports Headed to 5 Countries
China, Iraq, the UAE, South Korea and India imported 68.7% of...
Flat Steel Import Market Cools as Domestic Prices Drop
Import prices for flat steel materials cooled down in Iran in...
51.5% Rise in University Graduates
The findings of the most recent National Population and...

Trending

Googleplus