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Perspectives of the Armenian Pharmaceutical Industry

Perspectives of the Armenian Pharmaceutical Industry. Armen Aghayants Executive Director Union of Medicine Producers and Importers. Who We Are. Union of Medicine Producers and Importers Established in 2003

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Perspectives of the Armenian Pharmaceutical Industry

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  1. Perspectives of the Armenian Pharmaceutical Industry Armen Aghayants Executive Director Union of Medicine Producers and Importers

  2. Who We Are • Union of Medicine Producers and Importers • Established in 2003 • Mission: support the development of a competitive Armenian pharmaceutical industry by representing and protecting the interests of its members • Members: 10, of which 6 are producers • Producer member companies manufacture over 80% of local production • Importer-members represent approximately 60% of the market

  3. Ongoing Projects Through active collaboration with CAPS • Development of Union’s Strategic Development plan for upcoming 3 years • Creation of web portal for Pharmaceutical Industry • Establishment of GXP Center of Excellence to provide training and information on industry-related issues, such as Good Manufacturing Practices • Advocacy activities

  4. Armenian Pharmaceutical Industry: Key Facts • 61 importers of pharmaceutical products • 17 licensed manufacturing companies • 20 wholesale and 800 retail companies • 4 major retail chains • Local Production: 7.6 million USD* • Exports: 3,7 million USD* • Imports: 100 million USD* *National Statistical Service, 2007

  5. Armenian Pharmaceutical Industry:Major Producers

  6. Armenian Pharmaceutical Industry:Major Producers’ Turnover 2006-2008 $ 3,500,000 Liqvor Yerevan CPF PharmaTech Arpimed Esculap Vitamax-E

  7. Armenian Pharmaceutical Industry: Major Product Lines of Local Producers • Sterilized liquid preparations, including intravenous infusion liquids • Antiseptic preparations, etc. • Cardio vascular medicines • Galenic preparations • Herbal extractions and liquid preparations • Ophthalmologic medical preparations • Probiotic complexes (Narine) • Bioactive Food Additives Physical forms: tablets, capsules, ointments and solutions.

  8. Armenian Pharmaceutical Industry:Export Performance Source: National Statistical Service

  9. Export Destinations of Armenian Pharmaceutical Industry Source: National Statistical Service

  10. Armenian Pharmaceutical Industry:Imports Source: National Statistical Service

  11. Foreign Investment in Armenian Pharmaceutical Industry As a result of investment, Armenian producers cover almost 100% of local demand for IV solutions.

  12. Why Invest in PharmaceuticalIndustry • High market growth perspectives both in domestic and Armenia’s major export markets within CIS • Old traditions and rich experience in fine chemical industry • Highly educated workforce, complemented every year by new graduates from Armenian internationally recognized universities with close educational cooperation with Western well-known universities • State-of-the-art testing and laboratory facilities with cutting-edge equipment and highly skilled staff, conducting all types of laboratory testing and research • Open and collaborative cluster with enthusiastic entrepreneurs • Willingness of companies to adopt international standards and readiness to invest

  13. Opportunities in CIS: High GrowthMarket for Pharmaceuticals Imports from CIS countries totaled about 9 billion USD in 2006

  14. Opportunities for Doing Business in Armenian Pharmaceutical Industry(1) • Green field investment No restrictions for foreign investors/companies in starting and operating businesses in the Armenian pharmaceutical industry. Investors/companies require permits and licenses with the same conditions as local companies.

  15. Opportunities for Doing Business in Armenian Pharmaceutical Industry(2) • Equity investment Foreign investors/companies are allowed to buy and sell shares of local companies. Investors may consider the following exit strategies: a) sale of shares to strategic investors, b) IPO, c) management-buy-out (MBO) or d) management-buy-in (MBI). In 2007, the Armenian Stock Exchange was bought by Swedish OMX, which was later acquired by NASDAQ.

  16. Opportunities for Doing Business in Armenian Pharmaceutical Industry(3) • Contract Manufacturing for Local Distribution and Export Through contract manufacturing the investors/companies may gain in terms of: • Benefiting from cost efficient production • Utilizing the knowledge and connections of local producers on local and CIS markets - having access to dynamically developing vast markets • Utilizing the advantage of small scale and flexible production capacities of Armenian producers, which are cost efficient for production of small volume products

  17. Our Members • Alfa-FarmMajor importer, the company has contemporary warehouses. • ArpimedMajor producer. GMP and ISO certified company. • ErChF Major producer, functioning from USSR times, privatized in 1995. Main products are injection preparations, solid and liquid medicines. • EsculapImporter, producer and retailer. Main products are tablets, ointments, capsules, solutions. • Farm GoharImporter, the distributor of several Swiss and Arabian producers. • LambronMajor importer, established in 1998 and collaborating with Gedeon Richter. • Liqvor Major producer. Main products are intravenous infusion solutions, injection solutions. • Mediqal-Horyzon Producer, main products are suppositories and syrups. • Tonus-les Major importer and the distributor of several major international producers. • Vitamax-E Major producer, main products are various probiotics and NARINE

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