Tag Archives | pharmaceuticals

Pharma Firm pays $25m to Resolve Corrupt Payments

The US Securities and Exchange Commission (SEC) announced that Paris-based pharmaceutical company Sanofi has agreed to pay more than $25 million to resolve charges that its Kazakhstan and the Middle East subsidiaries made corrupt payments to win business. According to the SEC’s order, the schemes spanned multiple countries and involved bribe payments to government procurement officials […]

New Investment Opportunities in Iraq

By John Lee. The National Investment Commission (NIC) has announced new investment opportunities in Iraq: Glass production, State Company for Glass and Refractories Industry (SCGR) Drugs and Medical Appliances (Samarra), State Company for Drugs and Medical Appliances (Source: National Investment Commission) (Picture: Business opportunity word cloud, from ibreakstock/Shutterstock)

AstraZeneca Investigated for Alleged Corruption in Iraq

By John Lee. UK-bassed pharmaceutical company AstraZeneca has said it is the subject of an anti-corruption investigation in the US relating to its activities in Iraq In its latest quarterly filing with the Securities and Exchange Commission (SEC), the company said: “As previously disclosed, in the US, in October 2017, AstraZeneca and certain other pharmaceutical and/or medical device […]

Investment Opportunity: Pharmaceutical Plant in Samarra

By John Lee. The National Investment Commission (NIC), and the State Company for Drugs and Medical Appliances, have announced an opportunity to invest in the rehabilitation, modernization and operation of the Samarra drugs plant. In a statement, the NIC said: “It invites reliable Arab and foreign companies directly or their agents – not mediator or […]

UK Firm to supply Emergency Medicines to Iraq

By John Lee. UNICEF has picked UK-based Morningside Pharmaceuticals to supply medicines for emergency aid projects in the Middle East as well as Haiti and Liberia. According to a report from Leicester Mercury, the £1.2-million [$1.5-million] contract will include the supply of emergency medicines to Syria and Iraq. (Source: Leicester Mercury)

Smuggling Medicine ‘More Lucrative than Arms and Oil’

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Locals in Iraqi Kurdistan say they have no choice but to use smuggled medicines. And business in contraband pills is booming, with drug smugglers benefiting from slow approvals and political […]

URGENT: Min. of Industry Announces Investment Opportunities

By John Lee. The Iraqi Ministry of Industry has issued a list of thirty factories that are currently open for private investment. The factories cover such sectors as food processing, paper and cardboard, tires, fertilizers, aluminum, cement, natural gas, pharmaceuticals and textiles. The deadline for participating in the tenders is 15th November! Please click here […]

Iran Sets Up Trade Centre in Erbil

By John Lee. The head of the Trade Promotion Organisation of Iran, Valiollah Afkhami Rad (pictured), has signed a contract to set up a trade centre in Erbil. He said that a better understanding of the market in Erbil and throughout Iraq will result from the improved economic ties, and recommended that Iranian companies research […]