Sectorial Brochure Pharmaceutical Sector of Armenia/ BA | Page 9
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SUCCESS STORY / AZAD
AZAD is a story of a double Armenian success: that of Mike Baronian, a successful
businessman of Armenian descent based in Switzerland and founder of the company,
and that of the company's investment in Armenia.
Established in Switzerland in 2000 for global sales and marketing of active
pharmaceutical ingredients (API), AZAD soon began to diversify its field of expertise in
order to broaden its o erings and extend its presence in the healthcare industry, mainly
concentrating on the following areas:
£ Developing non-infringing APIs through proprietary development and
partnerships
£ Developing non-infringing finished drug products and o ering modified, value
added drug products
The company first opened up an o ce in Yerevan and then decided to start its own lab
in Armenia to carry out development work on APIs for third parties. AZAD's R&D lab
currently employs 30 highly skilled engineers.
SUCCESS STORY / FMD K&L
Established in the US in 1995, FMD K&L is an international Contract Research
Organization (CRO) supporting Data Management, Biostatistics, Pharmacovigilance,
Medical A airs and other services to pharmaceutical, biotechnological and medical
device companies worldwide.
With o ces and delivery centers in the US, UK, China, Philippines, India, South Korea,
Armenia, Japan and throughout the Asia-Pacific region and more than 1500 employees
worldwide, FMD K&L has a broad reach and innovative vision.
Having started its operation in Armenia in 2015, FMD K&L Europe currently has more than
180 employees. In 2018, the company established the region's largest biotechnology park
in Armenia. FMD K&L Europe plans to increase the number of its employees to reach 500
in the next few years.
Kirit Velani,
Managing Director of FMD K&L Europe
“The quality of work I get from Armenians is great. The cost di erence between the
West and Armenia is striking. This gives us a competitive edge in our business with
large multinational companies.”
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