iranfarma

Historically, Iran has been very important to the world of medicine. In ancient times, the Mesopotamians carved prescriptions and diagnosis into stone tablets. Avicenna, considered as the father of early modern medicine by developing the Canon of Medicine, and Muhammad ibn Zakariya al-Razi who discovered medicinal alcohol (ethanol), both hail from Iran.

Since Iran currently manufactures about 95% of the medicine for its population, Iranian manufacturers are now prioritizing the development of partnerships with foreign pharmaceutical companies in order to improve industry and quality standards. Iran Pharmaceuticals industry is gearing up for the next level of growth backed by higher disposable incomes, aging population, sustained improvements in healthcare infrastructure, improvement in healthcare financing, growing branded generics market & continued growth in demand for chronic therapies.

Given the planned prioritisation on R&D, Iran’s demographic outlook, and a rise in government initiatives with a view to international cooperation, the Iranian pharmaceutical sector looks very promising and  presents different opportunities to international companies. However, market entry requires deep knowledge of the structure of the industry, the decision-making process and how to develop key partnerships with the right market players.