Business Political Insights BPI.GE
TBILISI(BPI)- Businessman Gela Obolashvili plans to build two drug manufacturing companies in Tbilisi that will start operating in 2022.
Gela Obolashvili is currently the owner of the pharmaceutical company BioPolus, formerly known as Batpharma. Batpharma is infamous company that produced psychotropic drugs and exported them to Central Asian countries. Until November 2009, among the company’s shareholders was Lukhum Kapanadze, a close friend of Vano Merabishvili.
From January 1, 2022 Georgia will introduce a law, according to which, each pharmaceutical company must meet GMP standards.
“I want to build a modern enterprise following GMP standards and international requirements by 2022 and I am fully mobilized for that. Many countries don’t allow a company to enter the country without meeting GMP standards. I there are three countries left such as Uzbekistan, Tajikistan and Kyrgyzstan, where these standards are not required and I still export our products there. Earlier our company worked in the Russian and Ukrainian markets, where requirements are already set. “When I start this company, I’ll be able to enter many markets and both exports and productivity will increase in geometric progress,” the businessman explains.
Gela Obolashvili considers medicines prices and quality on the market to be adequate noting that all the opinions about high prices on drugs in Georgia are groundless.
I do not agree with this opinion and all claims must be addressed to pharmaceutical giants why they have such expensive prices.
I think the state shouldn’t intervene in pricing and prices should be regulated by the market. “, – the businessman says.
Lukhum Kapanadze owned BioPolus until October 18, 2012. On that day, he sold 33% of his shares to Gela Obolashvili for $ 300 thousand. A 57% share was transferred by Lukhum Kapanadze to his younger brother, Ucha Kapanadze. Ucha Kapanadze, for his part, sold the shares to Gela Obolashvili for $ 520 in one week. On the same day, Soso Zazashvili handed over his 10 percent to Gela Obolashvili. Obolashvili sold this 10 percent to Avtandil Jangavadze for $ 90 thousand.
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