Iran said on Saturday that it will for the first time start exporting high-value specialty drugs to Russia in the fourth quarter of 2015.
Roohollah Hedayati, the trade manager of Iran’s major pharmaceutical production company Tofigh Daru, said the company plans to export drugs with high added value to Russia including those for treatment of multiple sclerosis (MS) as well as different forms of cancer.
Hedayati said other markets that Tofigh Daru has targeted on this front are Latin America, Turkey and Pakistan.
Iran is mostly an importer of pharmaceutical products and its exports still stand at a minor value of around $220 million in a year.
The country’s imports whose annual value is estimated to be around $1 billion are made from about 60 countries among which Austria, Jordan and Armenia are key players.
Nevertheless, the country has made a significant progress over the past few years in production of raw materials especially for some pharmaceuticals used to fight cancer.
Health Ministry officials say the country has devised plans to decrease imports of pharmaceuticals to as low as $800 million by April 2016 and instead increase the production capacity of domestic companies.
By Press TV