Iran pharmaceutical market soaring

It is a special day for pharmaceutical experts in Iran. August 27 marks the birthday of a man whose discoveries such as alcohol and sulfuric acid revolutionized modern pharmacology. Eleven centuries after his death Mohammad Zakaria Razi also known in the west as Rhazes is still an Iconic figure in the world of chemistry. The event is a good excuse for pharmacists from all across the country to hold a three day gathering and celebrate the national pharmacist day once a year. Pharmaceutical exhibitions like this that showcase local medical products are common across Iran. During the past decade Iran has been able to advance its capabilities in the sector by producing some of the world’s most sophisticated drugs for the treatment of cancer, infertility and multiple sclerosis. International figures show that Iran's pharmaceutical market is currently worth $4 billion and is still growing. According to Frost & Sullivan expenditure on pharmaceuticals in Iran is expected to reach $4.14 billion by 2019. Among pharmaceutical giants US companies like Merck Sharp & Dohme or MSD and Pfizer followed by the German’s and the Japanese are believed to be in the lead among those seeking Iran’s growing market. Experts forecast a lucrative market for both domestic and foreign pharmaceutical products in Iran. For these Iranian Pharmacists Razi’s birthday comes with the promise of better days ahead.





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