Reputable Danish Company to Build Insulin Pen Production Factory in Iran

The Danish company 'Novo Nordisk', one of the most reputable insulin manufacturers in the world, has signed a memorandum of understanding with Iran to build a factory for producing 'insulin pens'. According to Mehr News Agency, this memorandum was signed on Tuesday, September 31, in Tehran with the presence of Hassan Hashemi, Iran's Minister of Health, between the Iranian Food and Drug Organization and the company's managers. Mr. Hashemi stated at the ceremony that Novo Nordisk will not be the only pharmaceutical company investing in Iran, and that negotiations will take place with other major pharmaceutical companies in the world for investment in this sector in Iran in the future. The Iranian Minister of Health expressed hope that both parties would fulfill their commitments and that the factory would be operational in the shortest possible time, allowing 'Iran to attract regional markets in this field within less than a decade'. This is the first time such a memorandum for investment in Iran has been signed with a European company following Iran's nuclear agreement with the 5+1 group. Ole Molsko Bøh, the Middle Eastern director of Novo Nordisk, also told the Danish news agency on Tuesday that the construction of this factory, at a cost of 70 million euros (78 million dollars), demonstrates the company's 'long-term commitment' to working in Iran. He also mentioned that with the prospect of lifting sanctions after the nuclear agreement, there is significant potential for economic growth in Iran, which includes better investment in the healthcare sector. The construction of this factory is set to begin later this year and will take five years to complete, producing FlexPen insulin pens. An insulin pen consists of a disposable needle, a chamber containing insulin, and a 'pen' used for injecting insulin into diabetic patients, offering the advantage of ease of use. Hassan Hashemi, the Iranian Minister of Health, stated at the signing ceremony that there are currently five million confirmed diabetics in Iran, with another five million at risk of developing the disease due to the community's sedentary lifestyle. He referred to dietary habits and inactivity in the region and Arab countries, noting that this is why diabetes statistics and the need for related medications are very high in the region. The Iranian Minister of Health emphasized that in the new environment created by the nuclear agreement, efforts should be made to reform drug imports and attract investment for domestic production, transfer knowledge and experience to the country, create jobs for youth, and export medications to the region and African countries. Novo Nordisk has had an office in Iran since 2005 and has been exporting its manufactured drugs to Iran through it. However, it now intends to build a factory under its own name. The sale and export of medications to Iran were not subject to U.S. and EU sanctions against Iran, but banking and technology sanctions have created problems and limitations. In this context, the Iranian government's failure to import ambulances 'due to banking sanctions', 'U.S. negotiations with European companies for the export of drugs and medical equipment to Iran', and the U.S. encouraging European companies to sell drugs to Iran are notable.