Country Report: Turkey - Pharmaceutical Executive


Country Report: Turkey

Pharmaceutical Executive


Although pharmaceutical companies in Turkey have been struggling in the face of market challenges, multinational companies are increasingly choosing the country as their base for Middle East, Africa and Asia operations.

Ayci, president of the Investment Support and Promotion Agency of Turkey (ISPAT)
GlaxoSmithKline (GSK) recently moved its regional center from Dubai to Istanbul. Additionally, the company appointed its General Manager and Vice President of Turkey as Senior Vice President, responsible for Middle East and Africa in the Emerging Markets and Asia Pacific, a region of 30 countries.

Dr. Emin Fadillioğlu, country president of GSK Turkey, said, "Turkey has an excellent talent profile. The country has technology, people, a large demand, and a significant geographic advantage, located in the middle of Europe and the Middle East. What else do you need?"

Novo Nordisk was one of the first to make the country its regional hub. "Strategically, we have chosen Turkey to serve as the regional centre for several reasons. One attractive aspect of the country to us is its political and economic strength and stability," explained Avşar Tuna.

Top 20 firms: value vs. Volume, IMS 2011.
Similarly, last April, Novartis selected Turkey as its headquarters for central Asia, the Middle East and Africa and intends to set up a new manufacturing facility in the country. Novartis board member Alexandre Jetzer-Chung noted that in recent years, Turkey has emerged as a regional center.

At Merck Serono, restructuring will put Elçin Ergün at the head of 69 countries from her office in Istanbul.

For Murat Yesildere, managing partner at Egon Zehnder International, a global executive search firm, investing in local talent is the right strategy. "The multinational organizations in Turkey which are successful are the one which have invested a lot in evaluating and hiring the right talent at the top of the company, and then delegating extensively to this person, rather than sending an expatriated and having the most important decisions taken some place else," Yesildere explained.


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Source: Pharmaceutical Executive,
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