Armenian drug expert forecasts 20% growth

PanARMENIAN.Net - Past years have seen production growth in Armenia’s pharmaceutical field, with 20% increase in export volume in 2010, Director of Likvor CJSC said.

In this context, Sergey Matevosyan noted that export volume is planned to increase 3-5 times before 2015 in the framework of development strategy worked out by government.

“Government stands ready to assist the private sector to significantly increase production volume,” Mr. Matevosyan noted.

According to the expert, though a number of leading local companies have already made investments boosting their production capacity, they are still in need of “long-term funding”, research organization and brand presentation in international market.

Head of the company further underscored the need to resolve the problem of the small share in the local market.

“Forthcoming three years envisage up to 20% increase in local medicine share in the Armenian market,” he noted.