Pharmaceutical companies in Armenia are an important part of the Armenian economy and have great growth potential.
The ancient traditions that were the forerunners of Armenia’s modern pharmaceutical industry have been passed down from generation to generation and have resulted in Armenia’s disposition and capacity for scientific research.
When the RA government adopted the export-oriented industrial policy strategy, representatives of the pharmaceutical sector were among the first to sign a memorandum, committing to future industry-government cooperation.
The state has offered extensive support to pharmaceutical companies. Support from donor organizations, particularly USAID, is also very important for the sector to thrive.
The progress of the Armenian pharmaceutical sector in recent years reinforces the belief that the development strategy has been good and that local pharmaceutical companies, especially export companies, can achieve even greater success by investing in international standards and using Armenia’s scientific potential, as well as ideas from the experience of other countries with the advanced pharmaceutical industry.
Competitive advantages of the pharmaceutical sector in Armenia
- High market growth both in the domestic market and in important export markets
- Old traditions and rich experience in the fine chemical industry
- Highly qualified workforce, which is internationally recognized by new
graduates every year Universities of Armenia are growing products Introduction of Good Manufacturing Practices (GMP) and other international
- Government Commitment by the government to further develop a GMP certification agency and
the development to support the recovery of the Armenian pharmaceutical sector
- Favorable business environment and investment opportunities
Growth Performance of the pharmaceutical sector
The pharmaceutical industry of Armenia has shown remarkable growth over the past five years, driven by sales in the domestic and foreign markets, with significant growth in investments in this sector.
It is one of the fastest-growing economic sectors in Armenia, the average growth of which has exceeded the growth of the manufacturing industry as a whole and the national economy as a whole.
In particular, the pharmaceutical industry has grown from 3.3 billion AMD ($8.9 million) in 2010 to 5.2 billion AMD ($12.6 million) in 2013, at a compound annual growth rate of 20% (see figure 4).
According to the RA National Statistical Service (NSS), pharmaceutical production (at comparable prices) was approximately 5.2 billion AMD in 2013, 29.9% more than 2012 of which 2.7 billion were exported, an increase of 22.2% over 2012.
Like manufacturing, Armenia’s pharmaceutical exports have been growing rapidly over the past five years, at a compound annual growth rate of 20%. The pharmaceutical sector in Armenia has great growth potential.
In line with Armenia’s Export-Oriented Industrial Policy, the government has identified the pharmaceutical industry as one of the strategic sectors to be promoted in the period 2010-2020.
The long-term goal of this strategy is to develop new sectors “export engines” by expanding not only the current export potential but also those with the highest export potential.
Through this strategy, the government aims to increase drug production from US$8 million in 2010 to US$3,035 million in 2015. In the same period, exports are projected to increase from USD 5 million in 2010 to USD 20.25 million for the industry in 2015.
There are 18 licensed pharmaceutical companies in Armenia, three of which produce significant volumes.
In 2013, these three companies contributed 70% ($8.8 million) to the total sales of all local manufacturers and 6.5% to the total sales of the Armenian pharmaceutical market as a whole ($134 million).
The pharmaceutical industry is one of the few export-oriented industries in Armenia. Considering that there are so few GMP certified manufacturers, the fact that the sector exports 52% of its production is a clear indicator of its export capacity.
Furthermore, the most important foreign markets for Armenian pharmaceutical companies are in the CIS and mainly in Central Asia (Uzbekistan, Kazakhstan, Turkmenistan, and Tajikistan). Armenian companies are also successfully competing in the markets of Georgia, Belarus, Russia, and Ukraine.
Local manufacturers mainly specialize in the production of generic drugs, although some produce branded products.
Most of these generic drugs are included in the List of Essential Medicines of the Republic of Armenia. Locally produced generic drugs cost 10-30% less than imported alternatives. There is also limited contract manufacturing.
The main dosage forms produced by Armenian pharmaceutical companies are:
- injection solutions, including intravenous infusion solutions
- eye drops
- herbal extracts and Tinctures
Product quality is a high priority for Armenian manufacturers. Therefore, most of the raw materials and chemicals used in production are sourced from suppliers in the EU and the US.
The industry is in the process of introducing and implementing international quality standards (GxP standards).
Two Armenian pharmaceutical manufacturers have already been successfully audited and awarded a GMP certificate by the Ministry of Health of the Republic of Armenia.
Best Pharmaceutical Companies in Armenia
Here’s a list of some of the best pharmaceutical companies in Armenia.
Phone: +374 60700500
Address: 8, 2 Byron St, Yerevan 0009, Armenia
ALPEN PHARMA” AG, REPRESENTATIVE OFFICE IN ARMENIA
Address: Armenia, 0033, Yerevan Hrachya Kochari St., 4 Building, Office 400 (in “Barekamutyun” business center building)
Address: Armenia, 0004, Yerevan Tsovakal Isakovi Ave., 50/3 Building
ARPIMED” PHARMACEUTICAL ENTERPRISE
Address: Armenia, 2204, Kotayk Marz, Abovyan 2nd Micro-District, 19 Building
General Director: +374-222-21703
Sales Department: +374-222-21725
Accounts Department: +374-222-21957
ASTERIA” Limited Liability Company (LLC)
Address: Armenia, 0051, Yerevan Nairi Zaryan St., 72/3 Building
AVROMIC” Limited Liability Company (LLC)
Address: Armenia, 0005, Yerevan Artsakhi Ave., 23 Building, Area 26/1
Service Department: +374-44-431431(mobile)
AZAD PHARMACEUTICALS” Limited Liability Company (LLC)
Address: Armenia, 2413, Kotayk Marz, Proshyan community Vanahovit District, 8 House (Nairi region)
DJRHAN AR” Limited Liability Company (LLC)
Address: Armenia, 0012, Yerevan Hovsep Emini St., 83 Building, №7 (Arabkir adm. district)
Address: Esculap” LTD, Yerevan, 0054 Davidashen 1st Quarter, 17/2 the Republic of Armenia
Tel: (374 11) 37-04-04
Fax: (374 11) 37-04-03
ESCO-PHARM” Limited Liability Company (LLC)
Address: Armenia, 0079, Yerevan Nor Nork 5th Micro-District, Artem Mikoyan St., 13 Building (Nor Nork adm. district)
FDA LABORATORY” Limited Liability Company (LLC)
Address: Armenia, 2239, Kotayk Marz, Nor Gyugh (Akunk community) 6th St., 1 Building (Abovyan region)
Customer Service: +374-96-350001(mobile)/+374-60-460076
FIC MEDICAL” PHARMACEUTICAL COMPANY (FRANCE), REPRESENTATION IN ARMENIA
Address: Armenia, 0009, Yerevan Teryan St., 68a Building, Apt. 11 (Kentron adm. district)
GARNILINE” Limited Liability Company (LLC)
Address: Armenia, 0025, Yerevan Charentsi St., 42/13 Building (Kentron adm. district)
GEDEON RICHTER” PHARMACY CHAIN AND ONLINE PHARMACY Joint Venture, Limited Liability Company (LLC)
Address: Armenia, 0028, Yerevan Orbeli Yeghbayrneri St., 14 Building (Arabkir adm. district)
GIGA FARM” Limited Liability Company (LLC)
Address: Armenia, 0047, Yerevan Norki Ayginer St., 193/1 Building (Nork-Marash adm. district)
Legal address: Armenia, Shirak Marz, Gyumri Goguntsi St, 3/5 Building
G SOFT” Limited Liability Company (LLC)
Address: Armenia, 0028, Yerevan Orbeli Yeghbayrneri St., 8 Building, Area 91 (Arabkir adm. district)
Phone: +374-43-610808(mobile) , +374-60-610808/+374-96-639394(mobile)
INFOPHARM” INFO CENTER
Address: Armenia, Yerevan
Phone: +374-10-540888/+374-96-541888(mobile),+374-41-541888(mobile) ,
INNOVA CLINIC” INNOVATION MEDICAL CENTER
Address: Armenia, 2207, Kotayk Marz, Abovyan Yerevanyan St., 1/24 Building (Abovyan region)
IMMUNOPHARM” Limited Liability Company (LLC)
Address: Armenia, 0014, Yerevan Hrachya Nersisyan St., 10 Building, №1/3 (Kanaker-Zeytun adm. district)
LAMBRON-PHARMIMPEX” Limited Liability
Address: Armenia, 0002, Yerevan Ghazar Parpetsu St., 22 Building, Structure 14 (Kentron adm. district)
Phone: +374-11-810000 8108,801
Address: Armenia, 0069, Yerevan Paruyr Sevaki St., 51 Building (Kanaker-Zeytun adm. district)
Phone: +374-94-870305(mobile), +374-99-870305(mobile)
Address: Armenia, 0048, Yerevan Fuchiki (Fucik) St., 27/14 Building (Ajapnyak adm. district)
Address: 7/9, Kochinyan Street, Yerevan 0089, RA
Phone: (+ 37460) 37 88 00
MARG-PHARMACY” MEDICAL EQUIPMENT AND ACCESSORIES IMPORTATION COMPANY
Address: Armenia, 0069, Yerevan Droi St., 15 Building (Kanaker-Zeytun adm. district)
MASTER PHARM” MEDICAL CENTER
Address: Armenia, 1107, Armavir Marz, Vagharshapat (Ejmiatsin) Spandaryan St., 0 Building, 1st Floor (in the territory of maternity hospital) (Ejmiatsin region)
MEDICAL HORIZON” Co.Ltd
Address: Armenia, Ararat Marz, Masis Gortsaranain St., 22 Building (Masis region)
“MOOSMANN PHARMACEUTICALS” Limited Liability Company (LLC)
Address: Armenia, 2413, Kotayk Marz, Proshyan community Vanahovit District, 8 House (near Ashtaraki highway) (Nairi region)
Phone: 37410 569994
Address: 4, 2, 39 Vardanants St, Yerevan, Armenia
Address: 46/1 2nd Block Davtashen Yerevan 0054, Armenia
Phone: +322.214.171.124.55 ext. 121
Address: Barrio Armenia Cr. 49 No. 30B – 46
Phone: +(57) 318 837 1830 – Cartagena
Phone: +374 (96) 500-645
Address: 70, 3 Dzorapi St, Yerevan 0015, Armenia
Address: 7, Baghramyan Ave. Yerevan 375019, RA
Tel/Fax: +37410 58-16-20
“PHARM TRUST” Co.Ltd
Address: Armenia, 0014, Yerevan Mamikonyants St., 48 Building (Arabkir adm. district)
REO PHARM” Limited Liability Company (LLC)
Address: Armenia, Yerevan Nor Nork 7th Micro-District, Hunan Avetisyan St., 3/9 Building
Address: Armenia, 0069, Yerevan Karapet Ulnetsu St., 58 Building
Chief Accountant: +374-10-247550
Phone: +374 10 52 90 01/+374 99 52 90 01
Address: 90 Sarmen St, Yerevan 0019, Armenia
SGS INSPECTION SERVICES LIMITED JSC”, ARMENIAN BRANCH
Address: Armenia, 0002, Yerevan Tumanyan St., 35/11 Building, 3rd Floor
THEOPHARMA” PHARMACY CHAIN
Address: Armenia, 0034, Yerevan Gusan Sherami St., 92/3 Building
Office: +374-10-725550/+374-10-720880/+374-93-990021 (Viber)
TONUS-LES” Limited Liability Company (LLC)
Address: Armenia, 0070, Yerevan Yervand Kochari St., 1 Building
Address: Armenia, 0089, Yerevan Kochinyan St., 13/16 Building
Service Department: +374-11-981000
Frequently Asked Questions
What’s the production volume of the Armenian pharmaceutical sector?
In the last 10 years, the production volume of the Armenian pharmaceutical sector has grown from about $1 million in 2004 to $12 million in 2014, with an annual growth rate of about 20% over the past five years.
What’s the drug exports rate in Armenia?
Armenia’s pharmaceutical industry has developed into one of the most dynamic sectors of the economy in the last decade.
Drug exports accounted for 52% of production in 2013, while the average annual growth rate of exports since 2003 is more than 20%
Who are the Industry players?
- 18 Licensed manufacturers
- 25 Importers of pharmaceutical products /
wholesalers and 1,278 retailer
- 41 Retail with more than two pharmacies
- 47 representatives of foreign pharmaceutical companies
(21 countries established)
- 1702 pharmacies (2014), their turnover
USD 100 million (2013)
What’s the market size of the pharmaceutical sector?
- USD 12.9 million local pharmaceutical production ( 2013)
- USD 127.8 million imports (2013), of which ( USD 10.2 million are from CIS countries, USD 80.0 million from the EU, and USD 37.5 million from other countries )
- USD 7.8 million exports (2013), of which ( USD 4.5 million to the CIS countries and USD 3 million to other countries )
Who regulates the pharmaceutical sector in Armenia?
The pharmaceutical sector In Armenia is regulated by several laws aimed at ensuring safe, high-quality, and effective medicines.
The basic legal act regulating the pharmaceutical sector in Armenia is the Law “On Medicines”, adopted in 1998.
It regulates the manufacture, registration, quality control, export, import, and sale of pharmaceutical products.
As mentioned above, the pharmaceutical countries in Armenia have experienced sustained growth in recent years, driven by increased sales in the domestic market and exports, together with a significant increase in investments.
Several multinational companies (Astellas Pharma Europe BV, Eli Lilly, Gedeon Richter, GlaxoSmithKline, Hoffmann-La Roche, Les Laboratoires Serving, Novartis, Pfizer, Sanofi, and Takeda Pharmaceutical Company Limited) have representative offices in Armenia to manage imports and/or marketing and branding to carry out supervision.
Several pharmaceutical manufacturers have managed to attract foreign direct investment from private and institutional investors.
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