Today, all medicine used in the treatment of coronavirus are produced by domestic manufacturers, and if we wanted to import all the items, there would be a high exchange rate, he further stated, emphasizing that COVID-19 vaccine development indicates the pharmaceutical industry’s capability.

With the support of the domestic pharmaceutical industry, we were able to reduce the total of preferred currencies and other currencies used in the country from $4.2 billion to $2.84 billion from 2017 to 2020, he emphasized.

Shanehsaz went on to say that the consumption of foreign exchange in raw materials increased by 2 percent, while medicine import decreased by 31 percent in value, IRNA reported on Monday.

In 2018, the National Medical Device Directorate reported that the Iranian medical equipment market was worth $2.5 billion, 30 percent of which belonged to over 1,000 domestic firms.

On a global scale, 56 percent of 500,000 medical equipment items available in the world market have Iranian versions. In pharmaceuticals, around 70 percent of Iran’s $4.5 billion markets are domestic products and, in 2018, 97 percent of pharmaceuticals consumed in the country were manufactured locally.

In 2018, 67 percent of the active pharmaceutical ingredients (APIs) used to produce drugs in Iran were made locally.

A total of 227 knowledge-based firms are supplying medical equipment for health centers across the country, according to the Vice Presidency for Science and Technology.

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As Sheibani added, despite US-led sanctions imposed on Iranian medicine sector, domestic producers are to showcase their capabilities and latest improvements in pharmaceutical industry in the event.

“Among the foreign participants, China and India, have a significant role,” he said.

The event is to be held from September 24 to September 26, at at Tehran’s Mosalla, covering an area of 35,000 sq.m.

IRAN PHARMA is the biggest pharmaceutical event of the MENA region and a hub for the regions market, with half a billion potential consumers.

“Germany and China have been the most active participants in the previous editions of Iran Pharma Expo, and in this edition, they have also showed keen interest in participating in the sectors of equipment and API and their loyal clients in Iran,” the event’s director, Leili Chegini said in mid-September.

The exhibition aims at presenting the latest achievements and innovations in pharmaceuticals and related industries; Introducing the existing capacity and potential in active pharmaceutical companies; Influencing the domestic and international pharmaceutical market; Connecting with domestic and international scientific research centers; and creating a platform for international trades in pharmaceuticals and related industries.

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He made the remarks at the inaugural ceremony of the 18th Annual Conference of Iranian Association of Pharmacists, held at Tehran’s Razi Conferences Center on Sat., and added, “it is for decades that foreign medical equipment production companies and pharmaceutical firms have established trade cooperation with the Islamic Republic of Iran.”

In the current situation, these foreign pharmaceutical companies have faced serious problems to continue their cooperation with Iran due to the US sanctions imposed on the country, he added.

“Pressure caused by US sanctions has forced us to move towards domestic production of raw materials needed in pharmaceutical industry of the country,” Shanehsaz emphasized.

Accordingly, planning is underway to produce between 85 and 90 percent of raw materials required in pharmaceutical industry of the country.

Head of Food and Drug Administration of the Islamic Republic of Iran (FDA) Mohammadreza Shanesaz stated, “of total three percent of annual imports of drugs and medicines into the country, one to two percent of which is related to the medicines which are produced in the country similarly.”

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The most important among the named ones is Metformin Hydrochloride, which a widely prescribed drug for treating type 2 diabetes. Metformin is often the first medication that will be prescribed to people with type 2 diabetes. Metformin helps to lower blood glucose levels by reducing the amount of glucose produced and released by the liver, and by increasing insulin sensitivity.

Based on the recent report of the Global Innovation Index (GII) in 2019, major portion of requirements of Iran’s pharmaceutical market are provided by the domestic companies.

Domestic companies hold about 70 percent of $4.5 billion pharmaceutical market of the country.

According to Sattari, Global Innovation Index (GII) in a report published in 2019 concentrated on studying and analyzing situation of innovation and capability of Iran in the pharmaceutical field with a focus on the biomedicines.

GII put the market value medical equipment in Iran at $2.5 billion, 30 percent of which is owned by more than 100 domestic producers.

Implementation of “Health Reform Plan” is one of the influential and effective steps launched in Iran in line with increasing accessibility to the services in the field of health, the report added.

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He said that these drugs are classified as high-tech and their production needs state-of-the-art technologies.

Asked when Iran can produce these advanced drugs, he said that “we have plans to produce this 3% in Iranian companies by the next three years.”

Despite US sanctions on Iran, which were imposed after Washington unilaterally withdrew from the Iran nuclear deal, pharmaceutical industries have made impressive progress, meeting the needs for almost all of the required drugs in the country. At the same time, the very same sanctions have created some problems for some Iranian patients as foreign companies don’t sell medicine to Iran in fear of US sanctions. US claims that it has not imposed sanctions on medicine but, in practice, it is affecting the Iranian patients.

Foreign Minister Zarif said in early June that “Economic Terrorism against Iran targets innocent civilians. Like this little boy, whose heartbroken mother can’t get him prosthetic legs as he grows. They’re sanctioned.” His post included the video of a mother who says the US sanctions have made the prosthetic limbs almost unobtainable in the market.

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Chairman of the Biotechnology Development Council said Wednesday that the country is planning to develop 30 new biopharmaceuticals in the future.

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The Office of Biological Products has received $100 million to fund the production of two new vaccines as recommended by the World Health Organization.

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 Visiting Iranian Minister of Health and Medical Education Dr. Seyed Hassan Hashemi to India said here on Sat. that India is a good opportunity to deal with sanctions imposed by US against Iran.

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