Dünya – Turkey’s growing pharmaceutical sector, holding immense potential for foreign drug producers thanks to the increasing availability of high quality healthcare for all segments of the country’s large population, will soon have special industry zones that focus on the research, development and production of drugs.
According to a strategy document in planning in Turkey’s Ministry of Science, Industry and Technology, the country’s pharmaceutical industry will have clear roadmap ahead in regard to cutting down costly imports of drugs while boosting local production of medicines such as the ones used in treating cancer and diabetes. “Turkey imported USD 5 billion of medicinal products in 2011 while only exporting USD 620 million. Addressing the trade deficit is a priority in this strategic sector…”, Nihat Ergun, Minister of Science, Industry and Technology, said outlining the new strategy document.
“The preparation of this roadmap is an important step towards reaching the sector’s 2023 goals.” Ergun noted, adding that the establishment of special pharmaceutical zones was being planned in order to make Turkey a center of development and production of drugs.
Turkey’s pharmaceutical sector, which was defined as a strategic sector in the new incentive scheme has seen large scale stake acquisitions in recent years, the latest being the acquisition of local generics manufacturer Mustafa Nevzat by US biotech giant Amgen for USD 700 million.
Turkey’s pharmaceutical market is the 7th largest in Europe and the 16th largest in the world.