Liqvor to invest additional 1.7 billion drams in production of eye drops
13.06.2019,
14:04
Armenian pharmaceutical company Liqvor will invest another 1.7 billion drams in the production of eye drops, Economy Minister Tigran Khachatryan said at a government meeting on Thursday.
YEREVAN, June 13, /ARKA/. Armenian pharmaceutical company Liqvor will invest another 1.7 billion drams in the production of eye drops, Economy Minister Tigran Khachatryan said at a government meeting on Thursday. The government decided today to provide the company with additional preferences for the implementation of its investment program.
"We have already provided the company with incentives for the implementation of the investment program. Now, under a new investment program the company plans to expand production and import equipment worth 1.9 billion drams," said Khachatryan.
In 2019 February the government exempted Liqvor from payment of customs duties on the import of equipment and raw materials after it pledged to invest 7.624 billion drams in the expansion of the production of eye drops. To that end the company was to import equipment and raw materials in the amount of 12.9 billion drams and l create 8 new jobs with an average salary of 75,500 drams ($155).
The company was expected to produce annually 13 billion drams worth medicines, of which 3.8 billion drams were to be sold in Armenia, 1 billion drams in Russia and several other countries, which are members of the Eurasian Economic Union and 8 billion drams worth medicines were to be exported to other countries.
Liqvor, established in 19991 is a privately owned pharmaceutical producer. It was the first to achieve Good Manufacturing Practice certificate in the South Caucasus. Liqvor became the first private pharmaceutical company in Armenia and then also the first in the CIS to manufacture infusion solutions in plastic packaging according to European standards. The company produces 60 names of infusion, injection, ophthalmic, hemostatic and otorhinolaryngological preparations and exports its products to almost all CIS countries. ($1 – 479.02 drams). --0--
"We have already provided the company with incentives for the implementation of the investment program. Now, under a new investment program the company plans to expand production and import equipment worth 1.9 billion drams," said Khachatryan.
In 2019 February the government exempted Liqvor from payment of customs duties on the import of equipment and raw materials after it pledged to invest 7.624 billion drams in the expansion of the production of eye drops. To that end the company was to import equipment and raw materials in the amount of 12.9 billion drams and l create 8 new jobs with an average salary of 75,500 drams ($155).
The company was expected to produce annually 13 billion drams worth medicines, of which 3.8 billion drams were to be sold in Armenia, 1 billion drams in Russia and several other countries, which are members of the Eurasian Economic Union and 8 billion drams worth medicines were to be exported to other countries.
Liqvor, established in 19991 is a privately owned pharmaceutical producer. It was the first to achieve Good Manufacturing Practice certificate in the South Caucasus. Liqvor became the first private pharmaceutical company in Armenia and then also the first in the CIS to manufacture infusion solutions in plastic packaging according to European standards. The company produces 60 names of infusion, injection, ophthalmic, hemostatic and otorhinolaryngological preparations and exports its products to almost all CIS countries. ($1 – 479.02 drams). --0--
