TEHRAN – Eight new pharmaceutical raw materials produced by a domestic company in Karaj, Alborz province, were unveiled during a ceremony on Sunday, Mehr reported.

Tamsulosin Hydrochloride, Naltrexone Base, Pioglitazone and Sitagliptin Phosphate were amongst the products.

The company exported about eight million dollars of its products in the past Iranian calendar year (ended on March 20) and it is estimated to increase the figure to ten million dollars this year.

The company has already exported its products to 43 countries and created 450 jobs directly by manufacturing 54 raw materials for medicine.

In early July, the Iranian Food and Drug Administration (IFDA) announced that 120 factories in the country produce medicine and 70 factories produce pharmaceutical raw materials. There are also 56 distributing companies and 12,000 pharmacies all around the country.

In February, the then IFDA director Mehdi Pirsalehi said that 120 homegrown medicines came onto Iran’s market over the past Iranian calendar year despite U.S. sanctions against the country.

SB/MG