Founded in 1999, Esco-Pharm has become one of Armenia’s leading pharmaceutical manufacturers, with its products widely available across the country and a growing international outlook. Now, the company is participating in Visionest’s Export Acceleration Program to explore new opportunities and gain access to new markets.
Esco-Pharm has grown into one of Armenia’s leading pharmaceutical manufacturers, producing a wide range of medicines, cosmetics, dietary supplements, and medical products. With a strong domestic presence and growing international ambitions, the company continues to explore new opportunities to expand its footprint in global markets.
According to Mikayel Tovmasyan, Director of Esco-Pharm, the Armenian market currently accounts for around 60% of the company’s total turnover. Esco-Pharm collaborates with all major pharmaceutical wholesalers in Armenia, and its products are available in pharmacies across the country.
“Esco-Pharm is positioned in the Armenian market as a manufacturer committed to making quality products accessible to every consumer,” says Tovmasyan.
Today, Esco-Pharm exports its products to several countries, including Russia, Ukraine, Poland, the United States, Kazakhstan, Uzbekistan, and Moldova. As part of its growth strategy, the company is now seeking to strengthen its export capabilities and enter additional markets.Esco-Pharm joined the Export Acceleration Program with the goal of expanding its expertise and gaining access to new tools that can support both entry into new markets and more effective operations in existing ones.
“The program has provided a significant amount of new information. The training sessions on artificial intelligence, neuromarketing, and company positioning were particularly valuable and insightful. At the same time, the program helped us systematize our existing knowledge regarding market analysis, partner selection, cooperation strategies, and logistics,” – Tovmasyan notes.
Within the framework of the program, Esco-Pharm is studying several promising markets. Among its priorities are Saudi Arabia and the United Arab Emirates in the Arab world, Vietnam in East Asia, and the CIS markets of Turkmenistan and Georgia, where the company had previously maintained a presence before operations were interrupted.
For Esco-Pharm, developing an export business plan is an important step toward sustainable growth. The company views the plan as a practical roadmap that will help improve efficiency and decision-making when operating in new markets.
“The information and insights gathered through this process will enable us to work more professionally and effectively as we expand internationally,” says Tovmasyan.
Esco-Pharm plans to enter new markets with its existing product portfolio while adapting products to the requirements of each market and partner. This may include introducing new product names, updating packaging, and tailoring offerings to local demand. The company is also considering the development and commercialization of entirely new products.
In addition, Esco-Pharm is currently working on a new corporate website, which is expected to be launched in the near future.
As the company continues to invest in innovation, market intelligence, and international partnerships, Esco-Pharm aims to strengthen its position as a competitive Armenian pharmaceutical manufacturer on the global stage.
The Export Acceleration program is implemented by Visionest Institute, funded by the Estonian Centre for International Development (ESTDEV), and carried out in cooperation with the Ministry of Economy of the Republic of Armenia.