Azad Pharmaceuticals Ingredients AG pledges 10 million euro investment in production of raw material for medicines
18.03.2015,
20:05
Swiss company AZAD Pharmaceuticals Ingredients AG has pledged a 10 million euro investment in the next five years into a pilot program on production of raw materials for medicines in Armenia.
YEREVAN, March 18. / ARKA /. Swiss company AZAD Pharmaceuticals Ingredients AG has pledged a 10 million euro investment in the next five years into a pilot program on production of raw materials for medicines in Armenia.
As part of that program a laboratory for the synthesis of medicinal raw materials opened today in Yerevan. It was established under a tripartite memorandum of cooperation signed last year by the Yerevan-based Institute of Fine Organic Chemistry, Azad Pharmaceuticals Ingredients AG and the Armenian Development Agency (ADA).
"Pharmacology is one of the most important sectors, which the government has designated as a priority. With this laboratory Armenia, famous for its research capacity, will receive a platform for using knowledge and experience to develop pharmacology ", deputy economy minister Emil Tarasyan said at the opening ceremony.
According to him, this is one of the best platforms where Armenian researchers will be able to put together all the scientific potential to conquer world markets.
In 2013, Azad Pharmaceuticals Ingredients AG had presented a three-stage program for the production of medicinal raw material, including creation of a research laboratory, implementation of scientific research and organization of production.
At the moment, the Swiss company has implemented the first part of the program by renovating and equipping five laboratories in the Research Center for Organic and Pharmaceutical Chemistry. -0-
