Country Report: Turkey - Pharmaceutical Executive

ADVERTISEMENT

Country Report: Turkey

Pharmaceutical Executive


VISION 2023

In 2010, Turkey was ranked the 6th largest pharmaceutical market in Europe and the 14th largest in the world. According to a recent report by the Pharmaceutical Manufacturers Association of Turkey (IEIS) in collaboration with the Boston Consulting Group (BCG), the country could be doing a lot better.


Turgut Toköz, secretary general of the Pharmaceutical Manufacturerers Association of Turkey (IEIS)
Turgut Tokgöz, secretary general of IEIS, said that in recent years, Turkey has been far too "inward-looking" to take real advantage of the international market. "The local market was vibrant and as the pharma industry is heavily regulated, it requires a large amount of effort and capital to export products," he said.

"Unfortunately, the industry has taken the easy route and has been focusing on the local market, which has been growing quite handsomely. Now that they are somewhat squeezed domestically, they are very much interested in export markets. This puts Turkey in a late-comer phase and it is not easy to gain a good market share in export markets. The train has already been moving, but it is still possible to catch it," Tokgöz said.

That is just what the Turkish government and industry leaders intend to do. As the 100-year anniversary of the Turkish Republic approaches (Atatürk founded modern Turkey in 1923), the government has set some ambitious goals for the country, including becoming a top-ten economy, fixing the country's trade deficit, and increasing the country's annual exports to USD 500 billion.


Cengiz Celayir, chairman of the Board of TISD
Specific goals have been set for the pharmaceutical industry, which accounted for 10 percent of the total trade deficit in 2010 (excluding energy imports) due to a high level of imports versus a low level of exports. That year, the sector's imports were valued at USD 4.4 billion, while exports flat lined at USD 600 million.

The IEIS/BCG report suggests that proper measures could boost the country's pharmaceutical exports to USD 16.5 billion by the 2023 deadline.


Women’s Strong Pharma Presence
AIFD has been working in partnership with government to encourage long-term policies that support innovation. It has developed a strategic document called the "Vision 2023" study, which recommends increasing the level of R&D and clinical research.


ADVERTISEMENT

blog comments powered by Disqus
UPCOMING CONFERENCES

Serialization Summit
San Diego, CA
Feb. 27-28, 2014



Advances in Aseptic Processing
San Diego, CA
Mar. 10-12, 2014



ClinTech 2014
Cambridge, MA
Mar. 11-13 2014


Investigator-Initiated and
Sponsored Research (IISR)

Philadelphia, PA
Mar. 19-20 2014

See All Conferences >>

Source: Pharmaceutical Executive,
Click here