Baku, Azerbaijan, April 30. Parla
Pharmaceuticals participated in the meeting of the Saudi
Arabia-Azerbaijan Joint Business Council held on April 28 in Riyadh
under the co-chairmanship of KOBİA, Trend reports.
According to the information, with KOBİA’s support and
initiative, a Memorandum of Understanding (MoU) was signed with
National Development Group Holding, which marked an important stage
in the development of Azerbaijan’s pharmaceutical industry.
The agreement envisages the initiation of export of high-quality
biotechnological and oncological drugs produced in Azerbaijan to
Saudi Arabia, as well as to the Middle East, the Persian Gulf, and
African countries. At the next stage, it is planned to transfer
scientific and technological developments and establish a joint
production enterprise in the Kingdom. This cooperation is a
strategic part of Parla’s global expansion plans and will
strengthen Azerbaijan’s strategic position in international
markets.
Initially, the collaboration will cover about ten advanced
medicines used in the fields of hematology, endocrinology, and
oncology. These products include Recombinant Factor VIII,
Teriparatide, Semaglutide, and Palbociclib. The project is realized
with the support of the Small and Medium Business Development
Agency of Azerbaijan (KOBİA) and the Ministry of Foreign Investment
of Saudi Arabia.
“This is not just a commercial collaboration – it is a strategic
step towards jointly developing scientific potential, expanding
access to advanced therapies, and showcasing Azerbaijan’s
innovative potential in the international arena,” Parla
Pharmaceuticals CEO Arash Nosrati said.