The changing face of the Iranian market?

Iranian Market

Iranian Market

The historic deal announced recently between Iran and P5+1 Countries (US, UK, France, China, Russia and Germany) regarding the suspension of international economic sanctions could potentially have a major impact on the Iranian Pharmaceutical industry.In recent years, Iran has faced severe sanctions on foreign trade and banking. Whilst international powers have ensured that there are exemptions in the sanctions for medicines, anecdotal evidence suggests that those exemptions are not working. Many big companies have tended to err on the side of caution when dealing with Iran, for fear of violating the sanctions. The risk of fines and potential for bad publicity means doing business with Iranian companies was often not worthwhile.