Pharmaceutical Power: Iran’s Rise to Becoming World’s Third Largest
From Import Reliance to Self-Sufficiency
Iran’s pharmaceutical industry has undergone a significant transformation since the Islamic Revolution, shifting from complete reliance on imports to becoming a sector that can domestically provide over 97% of the country’s medicine needs. This remarkable progress is attributed to the country’s ability to produce 70% of the raw materials required for drug manufacturing.
Access to Active Ingredients: The Key to Pharmaceutical Self-Sufficiency
The most critical factor in achieving pharmaceutical self-sufficiency is access to active ingredients used in drug manufacturing. Although Iranian drugmakers now produce 70% of the required raw materials, the production of active pharmaceutical ingredients (APIs) still relies on imported key starting materials (KSMs). Completing the value chain by producing KSMs domestically can save significant foreign exchange and generate more added value in the pharmaceutical industry.
Overcoming the Challenges of Key Starting Materials
One of the major challenges facing Iran’s pharmaceutical industry is the reliance on imported KSMs. To overcome this challenge, the country needs to focus on producing KSMs domestically. This will not only reduce the country’s dependence on imports but also increase the export potential of its pharmaceutical products.
Iran’s Advantage in Producing Key Starting Materials
Iran is preparing to become a Pharmaceutical Power by leveraging its abundant petroleum and petrochemical resources. These raw materials form the foundation for most synthetic medicines, granting Iran a distinct edge. Meanwhile, Iranian drugmakers assert their advantage in producing Key Starting Materials (KSMs). Moreover, the nation’s technical prowess can be harnessed to penetrate the neighboring market of 400 million people. Consequently, Iran aims to challenge China and India’s dominance in the pharmaceutical realm. By capitalizing on these assets, the country is steadily progressing towards self-sufficiency in drug production. In essence, Iran is positioning itself as a formidable contender in the global pharmaceutical arena.
Taking the Next Step: Full-Fledged Production of Key Starting Materials
Iran has already begun producing KSMs for the most widely used antibiotic in the country. This achievement is not only commercially significant but also vital in addressing the shortages of life-saving medical supplies and drugs caused by US sanctions. The production of propylene glycol, a raw material for manufacturing consumer products in the medical and food sectors, is another example of Iran’s growing capabilities.
The Future of Iran’s Pharmaceutical Industry
As Iran continues to develop its pharmaceutical industry, the country is poised to become the world’s third-largest pharmaceutical power. By completing the value chain and producing KSMs domestically, Iran can save significant foreign exchange, generate more added value, and increase its export potential. With its unique advantages and growing capabilities, Iran is on track to become a major player in the global pharmaceutical sector.
In conclusion, Iran’s pharmaceutical industry has made significant progress in achieving self-sufficiency. By focusing on producing key starting materials domestically, the country can overcome the challenges of import reliance and become a major player in the global pharmaceutical sector. Iran’s unique advantages and growing capabilities position it to become the world’s third-largest pharmaceutical power.
Source: MEHR News Agency