Armenia. News: Export-ready: Armenian drug companies hope to extend to new markets

Medicines made in Armenia meet international standards and the local pharmaceutical companies beginning on January 1, 2012 will fully switch to Good Manufacturing Practice (GMP) standards, says the head of an organization embracing medicines producers and importers.

Medicines Producers and Importers Association (MPI) Executive Director Samvel Zakaryan says that at the request of pharmacists the government of Armenia had postponed the application of new standards for a year. According to him, a number of pharmaceutical companies are already prepared to submit applications for receiving appropriate certificates, others will be ready for a similar procedure before the end of the year.

“Only with the introduction of GMP standards medicines produced in Armenia can be exported to Europe and the United States. And at this moment our local products are exported only to other Commonwealth of Independent States member countries,” says Zakaryan.

A total of 14 pharmaceutical companies operate in Armenia today. The share of medicines manufactured by them makes 8-10 percent on the domestic market. Nearly half of all domestically manufactured medicines go for export, mainly to former Soviet countries.

The Union’s executive director also notes that the amount of fake drugs in Armenia is rather low.

“But recently the government adopted a regulation, which allows the import of medicines with modified packaging from third countries, which implies a reduction of the price. But it is a very alarming development for us. We have already appealed to a number of state institutions so that the regulation is revoked. Otherwise, in theory and in practice this may result in an increased number of fake medicines [on the market],” says Zakaryan.

Source: http://www.armenianow.com/