The government approved—at Thursday's Cabinet meeting—the five-year plan for the development of the pharmaceutical industry and the program of measures to ensure its implementation in Armenia.

In his remarks in this regard, Minister of Economy Vahan Kerobyan noted that in 2021, the increase in the amount of drug production in Armenia was 2.8 times compared to 2011, and the increase in the amount of respective exports was more than two times.

According to him, the main goal of this program is the continued development of the pharmaceutical industry and increasing the level of drug self-sufficiency in Armenia.

"The production amount of the [pharmaceutical] sector [in Armenia] is expected to increase to 40 billion drams in 2027. In 2022, the same indicator was about 10 billion drams, the export amount—25 billion drams, which is about five times more than in 2022, to increase the number of [pharmaceutical sector] employees [in Armenia] to 1,500 people. The additional budget of this program will be about 2.5 billion drams," Kerobyan added, in particular.