The Armenian pharmaceutical company CJSC Liqvor is going to increase the volumes of medicine export by 20% - up to $3 million in 2014 versus 2013, Director General of the company, Sergey Matevosyan, told Arminfo correspondent.
He said that 70% of the sales of the company is export. The Armenian pharma drugs produced at Liqvor are chiefly exported to the countries of the former USSR as well as Vietnam, South Africa, Moldova, Belarus, Georgia and countries of Middle East.
The EBRD financed the building of the company and gave a loan at $1 million. The state credit 880 million AMD (about $2,3 million) was allocated by the government of Armenia within the frames of the anti-crisis events, and the rest sum was invested by the company itself. The building of the company started in 2008.
"At present, we have been completing our cooperation with the EBRD and the latter leaves the company. We have been negotiating on the matter. The project of the plant constructions has successfully ended and we do not need credits any more", - Matevosyan said. He also added that last year the company was the first in Armenia to get GMP standard (Good Manufacturing Practice) and is going to increase export in future.
As for Armenia's joining Eurasian Economic Union, he pointed at several possible risks and challenges. In particular, the VAT in Armenia is higher than that in the countries of the EEU. This increases prime cost of the production. "For instance, in Russia VAT is 10%, in Belarus - 0%. For this reason, I am anxious that import of cheaper pharma drugs will captivate Armenia", - he said. He worries about the local producers' protection policy conducted by the EEU member-states, which may also affect the sale of the Armenian pharma drugs.
To note, the share of the pharma drugs produced in Armenia for the last 3-4 years increased by 10% versus the former 5-7%. The total of 17 companies in Armenia have a got a license for pharma drugs production.