5/8/2009

R&D investments make Turkey pharmaceutical hub amidst crisis

Referans – Turkey is about to turn the crisis into an opportunity in the pharmaceutical sector with policies incentivizing R&D investments. While giant companies are moving their R&D centers to Turkey, they aim to discover drugs that will cure new diseases. On the other hand, local companies such as Abdi Ibrahim, Bilim Ilac and Eczacibasi-Zentiva are on the way to exporting their products to western countries following the new production facilities they are establishing one after another, as well as the research they conduct on the improvement of existing drugs. Turkey, accounting for one fifth of the OECD average per person in health expenditure, is a lucrative market for pharmaceutical companies with its population of 72 million people. According to experts, Turkey, with a clinical research market worth USD 30 million, will be one of the countries to boom in this sector soon.