Iraqi Pharmaceutical Industry Co.

What Iraqi Pharmaceutical Industry Co. does

Iraqi Pharmaceutical Industry Co. (IPI Pharma) is a privately held pharmaceutical manufacturer headquartered in Baghdad, Iraq. Founded in 1954 in collaboration with Belgian company UCB and inaugurated by King Faisal II in 1958, IPI is Iraq's first pharmaceutical company and operates a CGMP-compliant manufacturing facility spanning approximately 5,000 square meters with automated production capacity of 120 million capsules and 3 million vials per month, alongside a dedicated cancer drugs department established in 2022.

IPI develops, manufactures, and distributes a portfolio of 55 medicines across therapeutic areas including oncology (Imatinib, Ibrutinib, Sunitinib, Ruxolitinib, Abiraterone, Palbociclib, Lenalidomide, Nilotinib, Bosutinib, Decitabine), thalassemia (Ipijade), diabetes (Labmaryl), tuberculosis (Isoniazid), and general categories such as analgesics, antihistamines, anti-inflammatories, and gastrointestinal products. The company claims use of computational biology, AI, and high-throughput screening in drug candidate identification and operates state-of-the-art quality control laboratories. Certifications include ISO (2014), Class-A (2015), Quality Policy (2019), and CGMP compliance. Manufacturing is anchored by a $20 million+ modernization completed in 2012.

IPI's commercial model rests primarily on direct enterprise/government sales to the Iraqi Ministry of Health and public healthcare institutions, supplemented by regional exports (including Saudi Arabia) and an emerging OEM/licensing channel via the 2024 PHARMACARE partnership authorizing European manufacture of Palbociclib IPI. Cost positioning is a primary differentiator, with local production delivering up to 60% savings versus imported alternatives for government buyers. Reported sales grew from 20 billion Iraqi dinars in 2018 to a projected 70 billion Iraqi dinars by 2022. Leadership includes founder Dr. Labib Rashid Mirza and COO Wael Louay Mirza. Customer base is heavily concentrated in Iraqi public-sector procurement, creating a defensible but concentrated revenue base.

Name

Iraqi Pharmaceutical Industry Co.

Legal name

Iraqi Pharmaceutical Industry Co.

Website

https://ipipharma.com

Company type

Private

Founded year

1954

Operating status

Operating

Headcount range

11–50 employees

Short description

Iraqi Pharmaceutical Industry Co. (IPI Pharma) is a privately held Baghdad-based pharmaceutical manufacturer, founded in 1954 as Iraq's first pharmaceutical company. It produces 55 medicines spanning oncology, thalassemia, diabetes, and infectious diseases for the Iraqi Ministry of Health, regional exports, and licensed international partners.

Ownership category

akta.pro rank

Product category

Pharmaceutical Manufacturing

NAICS

Pharmaceutical Preparation Manufacturing (325412), Biological Product (except Diagnostic) Manufacturing (325414), Drugs and Druggists' Sundries Merchant Wholesalers (424210)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Generic Finished Dosage Form (FDF) Manufacturing (HLAIABAH)

akta.pro secondary industries

Government & Public-Sector Pharmaceutical Supply (Tender/Prime Vendor) (HLAIAJAF), Specialty Pharma & Biologics Distribution (GDP-compliant) (HLAGAMAD)

Keywords

• Pharmaceutical manufacturing
• Oncology drug production
• Generic medicines manufacturing
• Biosimilars development
• Hematology medications

Headquarters

HQ city

Baghdad

HQ country

Iraq

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Pharmaceutical Product Sales: Development, production, and distribution of pharmaceutical medicines including oncology drugs, thalassemia treatments, diabetes medications, antibiotics, and other medical products sold to government health institutions and healthcare providers.
2. Government Contracts: Major contracts with Iraqi Ministry of Health for production of essential medicines including 20 million diabetes pills and cancer drugs at 60% reduced costs compared to foreign suppliers.
3. Licensing & Manufacturing Authorization: Authorization agreements allowing international partners like PHARMACARE to manufacture IPI-branded products such as Palbociclib IPI for breast cancer treatment.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

IPI Pharma develops, manufactures, and distributes a portfolio of pharmaceutical products including oncology drugs (Imatinib, Ibrutinib, Palbociclib, Bosutinib, Sunitinib, Ruxolitinib, Abiraterone, Lenalidomide, Nilotinib, Decitabine), thalassemia treatments (Ipijade), diabetes medications (Labmaryl), antibiotics, analgesics, antihistamines, corticosteroids, and anti-parasitic drugs. Manufacturing occurs at its CGMP-compliant Baghdad facility, with monthly production capacity of 120 million capsules and 3 million vials, supplying primarily the Iraqi Ministry of Health, healthcare institutions, and regional export markets.

Product overview

Iraqi Pharmaceutical Industry Co. (IPI) is a pharmaceutical manufacturer that develops and produces medications distributed locally and globally. The company operates multiple production departments including tablets and capsules (producing 120,000,000 capsules monthly), syringes and anesthesia (3,000,000 vials monthly), and a dedicated cancer drugs department. Their product portfolio spans across therapeutic areas including oncology (Imatinib, Ibrutinib, Sunitinib, Ruxolitinib, Abiraterone, Palbociclib, Lenalidomide, Nilotinib, Bosutinib, Decitabine), diabetes (Labmaryl), thalassemia (Ipijade), allergies and inflammation (Periahist, Antihist, Ipisone), infectious diseases (Isoniazid for tuberculosis), gastrointestinal conditions (Gastricure), influenza (Flu-Stop), parasites (Mebendazole), and analgesics (Paracetin, Ponstole). The company focuses on both generic medicines and biosimilars, with dedicated research in hematology and oncology.

Differentiator

Problem solved

Functional benefit

Products and services

• Palbociclib IPI 125 mg CDK 4/6 inhibitor for breast cancer treatment, produced by IPI and authorized to European partner PHARMACARE for manufacturing under IPI brand, marking a milestone for Iraq's pharmaceutical industry.
• Imatinib IPI 100 mg / 400 mg Targeted therapy for chronic myeloid leukemia and gastrointestinal stromal tumors, supplied to Iraqi Ministry of Health and healthcare institutions.
• Ibrutinib IPI 140 mg Bruton's tyrosine kinase inhibitor for B-cell malignancies including mantle cell lymphoma and chronic lymphocytic leukemia, supplied domestically to Ministry of Health.
• Bosutinib IPI 100 mg / 400 mg / 500 mg Tyrosine kinase inhibitor for the treatment of chronic myelogenous leukemia (CML), part of IPI's growing oncology portfolio.
• Sunitinib IPI 12.5 mg / 25 mg / 50 mg Multi-targeted receptor tyrosine kinase inhibitor for renal cell carcinoma and gastrointestinal stromal tumors, supplied to healthcare institutions.
• Ruxolitinib IPI 5 mg / 15 mg JAK inhibitor for myelofibrosis and polycythemia vera treatment, distributed domestically through the Ministry of Health network.
• Abiraterone IPI 250 mg Androgen biosynthesis inhibitor for prostate cancer treatment, supplied to public healthcare institutions in Iraq.
• Lenalidomide 10 mg / 25 mg Immunomodulatory drug for multiple myeloma and myelodysplastic syndromes, part of IPI's hematology/oncology product line.
• Nilotinib 150 mg Tyrosine kinase inhibitor for chronic myeloid leukemia targeting BCR-ABL, supplied to Ministry of Health and hospitals.
• Pms-Decitabine 50 mg Antimetabolite agent used in chemotherapy for myelodysplastic syndromes and leukemia, supplied to Iraqi public healthcare.
• Ipijade Tablets 125 mg / 250 mg / 500 mg Iron chelation therapy for beta-thalassemia patients to manage iron overload; first local production of thalassemia treatment in Iraq.
• Labmaryl 1 mg / 2 mg / 3 mg / 4 mg Medication for managing blood sugar levels in diabetes treatment, supplied under contract for diabetes care in Iraq.
• Paracetin 500 mg Analgesic and antipyretic medication for pain relief and fever reduction, manufactured and distributed through healthcare channels.
• Antihist 4 mg Antihistamine medication for treating allergies and allergic reactions, supplied through healthcare providers.
• Periahist Tablets 4 mg Antihistamine tablet medication for treating allergies and allergic reactions.
• Ipisone Tablets Corticosteroid medication for allergies and inflammation treatment, addressing both causes and symptoms.
• Ponstole 500 mg Anti-inflammatory medication for pain and inflammation relief.
• Mebendazole Tablets Anthelmintic medication for treating parasitic worm infections.
• Isoniazid Tablets 100 mg First-line antibiotic for tuberculosis treatment.
• Gastricure Chewable Tablets Medication for gastrointestinal discomfort, targeting symptoms like dyspepsia and heartburn.
• Flu-Stop Medication for influenza treatment and symptom relief.

Quantifiable outcome

• 60% cost reduction compared to foreign suppliers
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature5 records

Partnerships

Six partnerships are on record, tiered flagship and core.

• PHARMACAREflagshipOEM/ Whitelabel/ Licensing Partner · 29 July 2024Historic partnership authorizing PHARMACARE, a European company, to manufacture Palbociclib IPI, a vital medication for breast cancer patients. This represents the first time an Iraqi pharmaceutical company has authorized international production of its cancer drugs. COO Wael Louay Mirza highlighted the drug's effectiveness at a press conference in Dubai.
• UCB (Belgian Company)coreStrategic or Co-development Partner · 1 January 1954Founding partnership with Belgian pharmaceutical company UCB, which designed the original factory to international industry standards. This historical collaboration established Iraq's first pharmaceutical company.
• PRU (Pharmaceutical Research Unit)coreStrategic or Co-development PartnerStrategic partnership leveraging diverse expertise and resources to deliver cutting-edge pharmaceutical solutions. Collaboration in research and development of innovative therapies.
• HalosyntechcoreTechnology or IntegrationTechnology partnership contributing to IPI's global network of leading institutions and research organizations for pharmaceutical innovation.
• HalocarboncoreTechnology or IntegrationStrategic partnership in the global network, contributing to research and development efforts and addressing pressing healthcare challenges.
• Pharma SciencecoreStrategic or Co-development PartnerCollaboration in developing innovative therapies and enhancing patient care through strategic partnership with industry pioneers.

Scale indicators11 records

Recent moves8 records

Expansion highlights5 records

Emerging players

• Eva Pharma: Egypt-based pharmaceutical manufacturer with growing oncology, hepatitis, and chronic disease franchises; comparable as an emerging regional generic player expanding through government supply, partnerships, and African export expansion.
• Pharco Pharmaceuticals: Egypt's largest pharmaceutical manufacturer by volume with a broad generics portfolio including oncology and hepatitis treatments; comparable to IPI as a regional emerging-market generic manufacturer with government-tender exposure and biosimilars ambitions.

Direct peers

• Julphar (Gulf Pharmaceutical Industries): UAE-based generic pharmaceutical manufacturer serving MENA markets with a comparable product mix across diabetes, antibiotics, and chronic disease therapies; operates as a regional peer with similar government-tender dynamics and CGMP-driven positioning.
• Tabuk Pharmaceuticals: Saudi-headquartered generics manufacturer with strong MENA distribution and oncology presence; comparable to IPI in targeting government tenders, branded generics strategy, and regional export ambitions from the Gulf.
• SPIMACO (Saudi Pharmaceutical Industries & Medical Appliances): Saudi Arabia's leading generic and branded pharmaceutical manufacturer; directly comparable in scale, regional government supply model, oncology/chronic disease portfolio, and aspiration to localize pharmaceutical production in the Gulf.

Broad incumbents

• Dr. Reddy's Laboratories: India-based global pharmaceutical company with branded generics, biosimilars, and active emerging-market government supply; comparable to IPI in oncology biosimilars strategy and emerging-market tender model, but at significantly larger scale and with proprietary R&D.
• Cipla: India-based global pharmaceutical major with deep oncology and chronic disease generics portfolio and large emerging-market distribution; broadly comparable to IPI in product categories (oncology, respiratory, anti-infectives) and emerging-market government tender model, but at multi-billion-dollar scale.
• Aurobindo Pharma: India-headquartered global generic manufacturer with a strong oncology and chronic disease pipeline plus emerging-market distribution; broadly comparable to IPI in oncology generics and tender-driven emerging-market commercialization, though at far greater scale and geographic reach.
• Hikma Pharmaceuticals: Jordan-based global generic pharmaceutical manufacturer with strong MENA government and tender presence; directly comparable to IPI in business model (generic FDF manufacturing, government supply, branded generics in oncology) but at vastly larger scale and broader geographic footprint.

Regional players

• Algorithm (Lebanese pharmaceutical company): Lebanon-based pharmaceutical manufacturer with MENA export presence in oncology and chronic disease generics; comparable to IPI as a regional player supplying branded generics to government and hospital channels across the Arab world.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/embed/b1ASS01_TqU
• LinkedInlinkedin.com/company/iraqi-pharmaceutical-industry-co

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Iraqi Pharmaceutical Industry Co.