Caspian Pharmed CJSC, a resident of the Pirallahi Industrial Park (PIP) since 2017, announced about its voluntary liquidation. The reasons for this decision are not reported. Caspian Pharmed CJSC was established in 2017 with the participation of TPICO (Iran, 49%), Azersun Holding (26%) and Azerbaijan Investment Company OJSC (25%). The volume of investments for the implementation of the first stage was agreed by the parties at the level of USD 20.6 million. On the basis of German (Glatt, Bausch Stroebel, L.B. Boehle) and Italian (Marchesini, Korsch) technologies, the company planned to produce painkillers, cardiovascular, non-steroidal, anti-inflammatory, antihistamines, as well as vitamins and nutritional supplements. It should be noted that the residents of the PPP are also Diamed Co. LLC, R-Pharm LLC, İFFA LLC and Absheron Saffron Ltd LLC.
Source: Turan News Agency