Iran saves $30 million in foreign currency with 63 new pharmaceutical products

Tehran, IRNA – Iran has unveiled 63 new domestically-produced pharmaceutical items—including 19 first-time formulations—a move projected to save the country between $25 and $30 million annually in crucial foreign currency by reducing reliance on imported medicines and raw materials.

Speaking at the launch ceremony in Tehran, Mohammad Naderi Alizadeh said on Sunday that Iran’s Tamin Pharmaceutical Investment Holding (TIPICO) is one of the few holdings in the country that controls the full pharmaceutical value chain, from R&D and API production to manufacturing, distribution, and marketing.

The group operates 24 subsidiaries and three affiliated companies nationwide and produces 549 pharmaceutical products, covering most therapeutic needs in Iran.

He added that the company holds 25–30% of Iran’s drug distribution market and supplies medicines to over 40% of medical universities, many serving low‑income populations, despite large accumulated receivables in the health sector.

According to the CEO, TIPICO has eliminated all loss‑making subsidiaries and significantly improved financial performance. Cumulative profits of its finished‑product companies rose 138% in the first ten months of the year (March 21, 2025 to January 20, 2026), while total group profits more than doubled.

Of the newly unveiled products, 10 are APIs, 46 finished medicines and supplements, and seven veterinary drugs, generating $25–30 million in annual foreign‑currency savings.

Strategic products, including type‑2 diabetes and weight‑loss medicines and insulin glargine, are expected to enter the market next year after regulatory approval.