Turkish pharma reports huge growth in exports and biosimilars

There are substantial opportunities across Turkey and neighboring markets, according to the  Pharma Insights Turkey 2015 report which was compiled with all major Turkish pharma manufacturers.

The report concluded that, despite short-term marginal pressures, there are plenty of long-term opportunities. In the near term, growth is predicted to come primarily from generics in the domestic market, but over the next two to five years manufacturers will increasingly be exporting to new markets with limited native manufacturing capabilities. In particular, Turkey’s manufacturers will look to invest in new facilities in nearby Commonwealth of Independent states (CIS) nations to take advantage of the Russian Pharma market – where many western manufacturers are reluctant to invest due to geopolitical reasons. The Russian government is targeting increasing domestic drugs production, but significantly, drugs imported from CIS nations will be counted as domestically manufactured.

Uneven growth and rise in biosimilars