Sectorial Brochure Pharmaceutical Sector of Armenia/ BA - Page 8

1 Having a common pharmaceutical market with EAEU countries with 0% customs duties means registered pharmaceutical products can freely circulate in EAEU countries without any additional procedures. The GMP standard is being implemented among the member countries Within investment programs, eight pharmaceutical companies are exempt from customs duties when importing certain industry products AN INNOVATIVE ECOSYSTEM FOR THE DEVELOPMENT OF MEDICINE, CHEMISTRY AND GENETICS £ Analytical Laboratory SCDMTE won first place in professional testing studies organized by the international organization Laboratory of the Government Chemist £ Investors and pharmaceutical companies can establish their own Contract Research Organizations (CRO) in Armenia, or invest in or collaborate with existing CROs, research institutions or pharmaceutical producers with CRO capabilities £ Competitive advantages in the manufacturing of generics, active pharmaceutical ingredients (APIs), vaccines, and, with 2500 medicinal herbs growing in Armenia, herbal medicine £ Armenia has vast R&D resources and rich human capital of professionals in Biochemistry, Molecular Genetics, and Microbiology £ FMD K&L, a global contract research organization, has established the largest biotechnology park of the region in Armenia. The company plans to grow to employ 500 people in the next few years 7