The ceremony was attended by Azerbaijan’s Economy Minister Shahin Mustafayev.
During the event, it was noted that products of the plant, which is being built by India’s Sun Pharmaceutical Industries Ltd. (Sun Pharma), will meet the European GMP (Good Manufacturing Practice) standards.
The plant will produce medicines for cardiology, nephrology, gastroenterology and diabetes, as well as other necessary medicines for the Azerbaijani market.
Products of the plant, production capacity of which is 200 million tablets, 40 million capsules and 20 million ampoules per year, are also planned to be exported to CIS countries and other foreign markets.
The plant will start to operate in late 2018.
Sun Pharma, with its capital of $39 billion, ranks first in India and fifth in the world. The company’s products are exported to 150 countries and it has 49 plants. Sun Pharma has been working on the US market for about 20 years, and its annual turnover in the country is more than $2 billion.