Joint venture · CIS & Central Asia · Announced 5 Oct 2026
Gen İlaç → Azerbaijan Business Development Fund
Türkiye's Gen İlaç has opened Azerbaijan's largest pharmaceutical plant through a joint venture with the Azerbaijan Business Development Fund, with capacity of 60 million boxes a year and plans to localize 500+ medicines over five years.
Parties: Gen İlaç ve Sağlık Ürünleri (Turkey) → Azerbaijan Business Development Fund (Gen Pharma Caucasus JV) (Azerbaijan)
- Deal type
- Joint venture
- Value
- $67m
- Territory
- Azerbaijan
- Therapeutic area
- Multi-therapy
- Asset
- Gen Pharma Caucasus Manufacturing Operations plant, Pirallahi Industrial Park: 60 million boxes a year (incl. 2.5 billion tablets and capsules); 500+ medicines to be localized over five years
- Announced
- 5 Oct 2026
Our analysis
Why this matters
Gen Pharma Caucasus Manufacturing Operations, a joint venture led by Türkiye's Gen İlaç, has opened what is described as Azerbaijan's largest pharmaceutical factory, in the Pirallahi Industrial Park. President Ilham Aliyev attended the opening on 5 October 2026. Gen İlaç holds 66%, the state-owned Azerbaijan Business Development Fund 29% and Türkiye's SİA Pharmaceuticals 5%.
The plant changes the scale of Azerbaijani pharmaceutical manufacturing: capacity of 60 million boxes a year, including 2.5 billion tablets and capsules, across cardiology, neurology, urology, diabetology and gastroenterology, plus painkillers and antibiotics. More than 500 medicines are to be localized within five years, which would make it the default local supplier for much of the country's generic demand.
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Source: AzerNews