Jun 7, 2023, 6:03 PM
Journalist ID: 1114
News ID: 85133681
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Iran producing 36 biotech drugs, vaccines

Jun 7, 2023, 6:03 PM
News ID: 85133681
Iran producing 36 biotech drugs, vaccines

Tehran, IRNA – Some 36 biotech drugs and vaccines are currently produced by Iranian pharmaceutical companies and 15 others are under being developed, according to a businessman with knowledge of the matter.

Fereydoun Mahboudi, a board member of the Association of Producers and Exporters of Biotech Products of Iran, said that Iran has cut back as much as $4 billion on its drug imports bill through the domestic production of biotech medicines.

Some 45 Iranian pharmaceutical companies are presently producing biotech products in the country, Mahboudi said. 

The businessman said the global market of biotech drugs are expected to hit $900 billion by 2030, as he expressed hope that Iranian companies could increase their share of the global trade for those drugs. 

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