TEHRAN — Novo Nordisk, a Danish pharmaceutical company, is going to invest in Iran to produce diabetes medications, Webda reported on Tuesday.

In a ceremony held to sign memorandum of understanding between Iran’s Food and Drug Administration and Novo Nordisk Company on Tuesday, Health Minister Hassan Qazizadeh Hashemi called for reduction in drug imports and urged Iranian pharmaceutical companies to raise fund to produce drugs inside the country.

The minister said diabetes is a fatal disease which is spreading so fast due to lack of physical activities by citizens in today’s world.

Currently 5 million Iranians are suffering from diabetes and 5 million more are likely to get the disease, Hashemi lamented.

Unhealthy diet and lack of exercise are the factors contributing to the rapid growth of diabetes in regional countries, including Arab states, accordingly the need for diabetes medication will escalate, he explained.

Hashemi expressed joy that Novo Nordisk, a company which has targeted diabetes for several years, has chosen Iran as the most stable country in the region to invest.

“Novo Nordisk would not be the only company to invest in Iran,” he pointed out. “In the upcoming months we will negotiate with world great pharmaceutical companies for investment in the country.”

Should the two countries fulfill their commitments, Iran will turn into a drug export market in the region in less than a decade, the health minister said.

Novo Nordisk is a Danish multinational pharmaceutical company headquartered in Bagsvaerd, Denmark, with production facilities in seven countries, and affiliates offices in 75 countries.


MQ/P