TEHRAN (ISNA)- Iranian Health Minister Hassan Hashemi said that the country stands 1st and 17th respectively in the Middle East and the world in terms of producing science and discovers 8-10 new drug formulas every year.

He said that 300 high-tech companies are operating in bio-technology fields in Iran and are producing new-combination drugs.

�The companies also export products outside and hold over 90 percent of the local market,� he said.

Hashemi further said that Pasteur Institute of Iran established 100 years ago not only sends vaccine to Asia but also covers Africa as well.

Iranian health minister noted that the country is producing over 96 percent of the drugs needed by the society locally.

By ISNA