Chamber of Commerce: Iranian Healthcare Industry Faces Stark Future

The head of Iran’s Health Economics Commission has warned about the state of the healthcare industry amid price hikes and lack of suitable infrastructure.

Mohammad Abdollahzadeh, head of the Health Economics Commission in the Tehran Chamber of Commerce revealed that the deteriorating state of Iran's pharmaceutical sector is worse than energy and electricity.

His remarks come following reports from Alborz Daroo and Toolid Daroo, prominent pharmaceutical companies, who have recently increased the prices of some medicines. The companies say that price hikes are due to increased costs for raw material.

Abdollahzadeh also highlighted the fact that Iran’s medical industry is operating with antiquated infrastructure, which is hindering the basic ability of production units. "Given the current circumstances, these production units are finding themselves without the means to acquire essential machinery," he said.

Citing data from pharmaceutical companies listed on the stock exchange, Abdollahzadeh said that since 2019, the depreciation rate within Iran's pharmaceutical sector has surpassed the rate of investment, posing significant challenges to sustainability and growth.

While Iranian authorities frequently link medicine shortages to US sanctions, Washington asserts that humanitarian assistance remains exempt from these sanctions. Iran annually imports medicines valued at more than $1.5 billion, with significant quantities originating from Europe, China, and India.