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Local Medicines Cover Only 10% Of Armenian Market

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  • Local Medicines Cover Only 10% Of Armenian Market

    LOCAL MEDICINES COVER ONLY 10% OF ARMENIAN MARKET

    PanARMENIAN.Net
    March 3, 2011 - 16:21 AMT 12:21 GMT

    Director of Likvor CJSC Sergey Matevosyan said that local medicines
    cover 10% of the Armenian pharmaceutical market.

    "We should conceive that pharmaceutics is a strategic field and it
    should be developed in Armenia," Matevosyan said after a visit to
    the company's new industrial unit with Armenian Minister of Economy
    Tigran Davtyan.

    Matevosyan added that Likvor company operates for 20 years and is
    the leader in medicines production in the Armenian market. According
    to him, 35% of the company's output is exported to eight countries,
    while the new unit's launch will allow expanding the export volume
    and geography.

    Matevosyan reported that the new building's construction started in
    September 2009 and the basic construction works are finished.

    According to him, the estimated cost of the project makes around
    $3.5-4mln, most of which has been already invested.

    The emergency response team of the Armenian government approved an
    AMD 900mln lax credit to the company in 2009, of which the company
    has already received 400mln, while the third tranche at the amount
    of AMD 150mln will be transferred soon.




    From: A. Papazian
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