The "Workshop on Petrochemical Product Credit Supply" was held with the participation of pharmaceutical industry experts and Akbar Pirbodli, Director of Planning and Investment Studies at the Special Economic Zone of Petrochemicals (Mahshahr) on the sidelines of the 17th Iran Plast International Exhibition.
Pirbodli invited all pharmaceutical industry investors to invest in the Mahshahr Special Economic Zone, stating, "We have considered unique incentives for knowledge-based companies that will engage in the production of pharmaceutical APIs."
Iran's Unique Position in Pharmaceutical API Production
Faramarz Ekhtrai, Chairman of the Syndicate of Producers of Pharmaceutical, Chemical, and Packaging Materials, noted that the practical production of pharmaceutical APIs began after the revolution, stating, "Through the initiatives taken during this time, we are currently producing 72% of the country's pharmaceutical API needs domestically."
Highlighting Iran's unique position in pharmaceutical API production in the region and globally, Ekhtrai added, "The production of pharmaceutical APIs is primarily exclusive to countries such as the United States, Europe, China, and India. Iran has now joined this exclusive group by producing these APIs."
Ekhtrai, who is also the CEO of a pharmaceutical company, stated, "Currently, 46 domestic companies are engaged in the production of pharmaceutical APIs, and among them, 41 are knowledge-based companies."
Emphasizing that 98% of drugs in Iran are domestically produced, Ekhtrai noted, "The pharmaceutical industry is one of the strategic industries of the country, and a significant portion of these drugs is produced from petrochemical raw materials."
Supplying Petrochemical Products on Credit to Pharmaceutical Companies
Regarding the supply of petrochemical products on credit to pharmaceutical manufacturers, Ekhtrai stated, "This will enable companies to receive petrochemical materials on credit, produce their goods, and after production and sale, they can settle the cost of the raw materials."
Ekhtrai continued, "In the current year, we have succeeded in producing a significant number of pharmaceutical intermediate materials domestically."
Private Sector's Positive Initiatives in Completing the Value Chain
Mohammad Reza Mousavi, Vice Chairman of the Syndicate of Producers of Pharmaceutical, Chemical, and Packaging Materials, also commented on the completion of the value chain in the private sector, stating that the raw material industry in Iran is a young industry that has flourished since the victory of the revolution.
Mousavi added, "Previously, completing the value chain in the pharmaceutical industry had no significant meaning. However, in Iran, the private sector has taken steps to complete the value chain in this sector."
He further explained, "We have successfully transformed raw materials into pharmaceutical APIs through the completion of the value chain in the petrochemical industry."