Azerbaijan Pakistan’s joint ventures in pharmaceutical industry look promising

Speaking to Azernews on the issue, Dr. Imran Khalid, a Pakistani pundit, said in a comment that the pharmaceutical industry in Pakistan has experienced significant growth and transformation over the years, emerging as a vital contributor to the country’s economy and healthcare sector. With a sales volume equivalent to $3 billion dollars in 2023, Pakistan’s pharmaceutical industry has grown over 12% over the past 5 years.

“With a rapidly expanding market, a robust regulatory framework, and a commitment to innovation, Pakistan’s pharmaceutical industry is making its mark on the global stage. There are around 600 big and small manufacturing companies in Pakistan. Pakistan’s pharmaceutical market has been on a steady upward trajectory, driven by a combination of factors such as population growth, increased healthcare awareness, and rising per capita income.

The transfer of this expertise to Azerbaijan will not only help in the transfer of technology but also it will help in the availability of cost reduction in the healthcare sector. Generating cost-effective and quality manufacturing capabilities will make Azerbaijan an attractive destination for investors – globally and locally – as well as global companies who are looking to outsource their production….

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