Friday, 9 November 2012
PM Gets Acquainted With State-Supported Pharmaceutical Company’s Activities
Accompanied by Minister of Economy Tigran Davtyan, Prime Minister Tigran Sargsyan visited “Liquor” pharmaceutical company to get a first-hand view of production processes and development programs.
Established in 1991, the company manufactures medical supplies for intravenous (drip) 100-3000 ml capacity injection, 1-20 ml of sterile ophthalmic drug production and capacity, as well as 5 and 10 ml capacity, which contains a list of about 60 names of medicines and covers around 30 pharmacological groups As of the 9 months of 2012, the company’s share in total volume of domestic drugs was 37% and 38 percent in that of exported products.
Liquor Ltd was provided State support in two directions: the government’s anti-crisis headquarters made available AMD860m in loans (2009) from SME Investment UCO and under a government decision on a 3-year VAT deferment which was passed in 2011.
The company has expanded its operations by building a 3200 sq. m. area of new factory, equipped with modern equipment for the pharmaceutical industry, which is put into operation in 2011. The plant construction and the purchase of new equipment had a total invested cost of USD5m.
The production is equipped with Italian, Austrian and German technologies coming months, the company will complete the process of obtaining a certificate of GMP new factory will be the first in the region in accordance with the requirements of GMP standards, which take into account the potential of the plant's production capacity tripled the current production volume, will help expand the export countries. scope out new export markets, increase production volumes and the number of jobs.
As of November 1, 2012, the factory’s output rose to AMD1.05bn 18.8% up as compared to the same period of last year, of which 0.56 billion were exported products, with a 37.1% growth index. About 53 percent of the products is exported to Georgia, Russia, Moldova, Belarus, Kazakhstan, Tajikistan, Turkmenistan and other countries.
40 new jobs have been created since the plant came into operation in October, 2011.
Currently, the company employs 124 people, with an AMD175 thousand average salary.
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In January – September, 2012, the production of pharmaceutical products amounted to AMD2.6b in Armenia as compared to the same period of 2011, increasing by about 5.3%.
The company sold approximately AMD2.64bn worth of products, 12.3% up against the same period in 2011, of which 1.32 billion were exported products, with a growth of 31.1%.
