Pharmaceutical industry practitioners believe that when production is more than domestic consumption, the pharmaceutical industry needs to export medicines to those who need it to fulfill their need. It is a win-win situation. Pharmaceutical Export Statistics suggests Iraq and Afghanistan are the two key markets for Iranian medicines exports, in recent years.
The year 2018 statistics shows that Afghanistan ranked high in importing Iranian medicines and one of the most important export destination for Iranian pharmaceutical companies. Last years, total exporting pharmaceutical products to Afghanistan worth $12.5 billion.
Similarly, during a visit to Iraq, the Deputy Minister of Health also stated, “There exists a high potential to export pharmaceutical products to Iraq, as the volume of drugs imports in Iraq is higher than that of Iran’s medicines.”
Iran has a $4.5 billion worth pharmaceutical market where domestic companies share 70% of the total market.
Recently, Iran, Nicaragua sign $10m deal to export pharmaceuticals to Central American country. Nicaragua is set to import pharmaceuticals from Iran for a “pilot period” of six months, said Francisco López Centeno, Nicaraguan president’s Advisor for Production and Commerce.
“In the first phase, we will import medicine from Iran worth $10m in return for export of food from Nicaragua. Medicine in Central America is very expensive. Even if there is enough money, we can’t buy enough medicine because with each endemic disease, we face difficulties in providing them”according to the Nicaraguan official.
Besides, Sinadoxosome, a nanomedicine has also made its way in international market. It is a very powerful medicine used in the treatment of ovarian cancer, breastcancer, multiple myeloma, and Kaposi sarcoma associated with AIDS; and it is also in clinical trial phase for some other cancers. The company has exported pharmaceutical products to various Asian countries. Moreover, the drug is also is in the legal process to export this nanomedicine to Europe.