Gen Pharma Caucasus Manufactoring Operations LLC, having received a resident status in Azerbaijan’s Pirallahi Industrial Park, will build a pharmaceutical enterprise on its territory, Report informs, citing the Economic Zone Development Agency under the Economy Ministry of Azerbaijan.

The pharmaceutical company will produce 42 types of medicines on 7.8 hectares of the industrial park.

An enterprise with an investment value of 59.3 million manats ($34.88 million) will employ 165 people. The enterprise with an annual production capacity of 50 million boxes will be built within the framework of trilateral cooperation between the Azerbaijan Investment Company and Turkish Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş. company and Sia Pharmaceuticals.