L. Margaryants: “Local drug production has potential to be competitive in local and foreign market”
CAPS Pharmaceutical Cluster Coordinator, Lala Margaryants addressing the Armenian Pharmaceutical Competitiveness Third International Conference organized with the support of USAID-funded CAPS Project and Union of Medicine Producers and Importers said that according to 2009 data Armenian pharmaceutical market turnover totaled USD 100m.
4116 drug denominations have been registered this year in Armenia, out of which 7.3 percent has been produced in Armenia.
“Local drug production has strategic importance and aims to ensure national security. Drug production also has economic importance. It ensures country’s drug independence and development of relevant technologies. Developing drug production first of all contributes to creation of jobs, foreign currency saving, rise of country’s authority,” CAPS Pharmaceutical Cluster Coordinator, Lala Margaryants said.
She added that increase in local drug production is observed in Armenia over the past years, and the local drug production sector has the potential to be competitive in the local and foreign market.