invest.gov.tr1
TURKISH PHARMACEUTICAL INDUSTRY
invest.gov.tr2
AGENDA
invest.gov.tr
Opportunities in Turkish
Pharmaceutical Industry4
Growth Drivers
in Turkey3Executive Summary1
Turkish Pharmaceutical
Industry Outlook2
invest.gov.tr3
STRONG INTERNATIONAL PRESENCE
FAVORABLE GROWTH
DRIVERS
OPPORTUNITIES
• Pharmaceutical industry is one of the most dynamic and strategic sectors of the country• Turkish pharmaceutical market grew in value by 26.1% in 2018 and sales reached 30.9 billion TL,
with 11% CAGR during 2010-2018• Turkish pharma market is ranked 17th within the global market• The Turkish pharma market reached 33 billion Turkish Liras in the last 12 months as of March 2019 • Unit sales reached 2,3 billion units
• Turkey wants to reduce import dependency and increase local production• Turkey is emerging as an ideal location for clinical trials with potential treatment-naive
patients and a favorable regulatory environment aligned with international standards. • Turkey has a benign R&D ecosystem with its developed education institutions and incentives • Biopharmaceuticals have been rapidly increasing with double-digit growth rates • Strategic location with increasing export opportunities
• Global pharma giants have been present in Turkey, engaging in both manufacturing and R&D
• A well-developed direct and contract manufacturing by multinationals
TURKEY HAS A GROWING PHARMA INDUSTRY THAT
OFFERS OPPORTUNITIES IN VARIOUS AREAS...
EXECUTIVE SUMMARY
ROBUST GROWTH
IN THE SECTOR
• Strong macroeconomic growth with increasing income per capita• Increasing life expectancy and healthcare spending• Skilled labor force with cost advantage in manufacturing and R&D• Strong government support through incentives for manufacturing and R&D • Government policies to increase access to healthcare services; heavy investment
into healthcare infrastructure (building dozens of city hospitals across Turkey)
invest.gov.tr4
AGENDA
invest.gov.tr
Opportunities in Turkish
Pharmaceutical Industry4
Growth Drivers
in Turkey3Executive Summary1
Turkish Pharmaceutical
Industry Outlook2
invest.gov.tr5
Top 20 Pharmaceutical Markets (Index: US Market=100, based on constant US$)
Rank 2012 Index Rank 2017 Index Rank 2022 Index
1 USA 100 1 USA 100 1 USA 100
2 China 24 2 China 26 2 China 28
3 Japan 24 3 Japan 18 3 Japan 13
4 Germany 11 4 Germany 10 4 Germany 9
5 France 10 5 France 7 5 Brazil 8
6 Italy 7 6 Brazil 7 6 France 6
7 Brazil 6 7 Italy 6 7 Italy 6
8 UK 6 8 UK 6 8 UK 5
9 Spain 5 9 Spain 5 9 India 5
10 Canada 5 10 Canada 4 10 Spain 4
11 India 4 11 India 4 11 Canada 4
12 South Korea 3 12 Russia 3 12 Russia 4
13 Australia 3 13 South Korea 3 13 South Korea 3
14 Russia 3 14 Austrialia 3 14 Austrialia 2
15 Mexico 2 15 Mexico 2 15 Turkey 2
16 Argentina 2 16 Turkey 2 16 Mexico 2
17 Saudi Arabia 2 17 Poland 2 17 Argentina 2
18 Poland 2 18 Saudi Arabia 1 18 Poland 1
19 Switzerland 2 19 Argentina 1 19 Saudi Arabia 1
20 Belgium 2 20 Switzerland 1 20 Switzerland 1
AS A PHARMERGING MARKET WITH HIGH PHARMACEUTICAL
GROWTH, TURKEY OFFERS STRONG INVESTMENT OPPORTUNITIES
FOR MULTINATIONALS..
3
2
Change in ranking over prior five years
1
2
1
2
1
7
1
10
7
6
1
2
2
1
1
1
1
1
1
1
1
1
1
1
3
2
1
3
1
1
1
2
1
3 1
GLOBAL POSITION
Source: IQVIA Market Prognosis, Sep 2017; Rankings based on Constant US$. Index reflects comparison to the U.S. of spending in Constant US$. 5
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13,3 13,6 13,0 13,815,2
17,5
20,4
24,5
30,9
37,8
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019/9
CAGR
11.1%
TURKISH PHARMA MARKET TURKISH PHARMACEUTICAL MARKET HAS BEEN ROBUSTLY
GROWING OVER THE PAST DECADE..
TURKISH PHARMACEUTICAL SALES* (BILLION TRY)
• The Turkish pharmaceutical industry provides more than 12 thousand products produced at 81 facilities at international standards by
approximately 500 companies and 38 thousand employees…
1,6
1,8 1,9 1,9 1,92,1
2,22,2
2,3 2,3
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019/9
CAGR
4.5%
TURKISH PHARMACEUTICAL SALES (BILLIONS OF BOXES)
Source: Pharmaceutical Manufacturers Association of Turkey (IEIS) *ex-factory prices
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24,5
30,9
2017 2018
SOURCES OF GROWTH SHOW THE DYNAMIC STRUCTURE OF THE
TURKISH PHARMACEUTICAL MARKET THAT OFFERS
OPPORTUNITIES TO GROW..
TURKISH PHARMA MARKET
TURKISH PHARMACEUTICAL SALES (BILLION TRY)
SOURCES OF GROWTH (PERCENTAGE POINT-PP)
26%
Price14,9 pp
Volume2,9 pp
Sales Distribution
6,3 pp
New Products
2 pp
Source: IEIS
invest.gov.tr8
WHILE ORIGINATOR DRUGS DOMINATE PHARMA SALES
IN TERMS OF VALUE WITH ABOUT 70%,
THEIR SHARE IN UNIT SALES IS ABOUT 40%...
TURKISH PHARMA MARKET
BREAKDOWN OF PHARMA SALES VALUE
(2018)
Source: IEIS
BREAKDOWN OF PHARMA SALES VALUE
(2018)
Generic32%
Originator68%
Generic59%
Originator41%
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9,31 9,248,73
9,4610,44
12,17
13,89
16,69
21,02
25,16
4,08 4,36 4,19 4,28 4,65,38
6,53
7,85
9,92
12,62
0
5
10
15
20
25
30
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019/9
Bil
lio
nT
RY
Originator vs. Generic Products(Value)
Originator Generic
TURKISH PHARMA MARKET IN 2018, THE ORIGINATOR PRODUCTS MARKET GREW
BY 26% AND SALES REACHED 21 BILLION TL
Source: IEIS
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TURKISH PHARMA MARKET DURING THE 2010-2018 PERIOD THE VOLUME OF THE GENERIC
PRODUCTS HAS INCREASED BY 57.7%
0,75
0,83 0,83 0,84 0,850,9 0,9 0,92 0,93 0,92
0,87
0,961
1,2
1,07
1,16
1,251,31
1,371,41
0,5
0,7
0,9
1,1
1,3
1,5
1,7
1,9
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019/9
Bil
lio
n B
ox
es
Originator vs. Generic Products(Volume)
Originator Generic
Source: IEIS
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46,40% 40,60% 39,30%
53,60% 59,40% 60,70%
0,00%
20,00%
40,00%
60,00%
80,00%
100,00%
120,00%
2010 2018 2019/9
Originator vs. GenericMarket Share
Unit
Originator Generic
69,50% 67,90% 66,60%
30,50% 32,10% 33,40%
0,00%
20,00%
40,00%
60,00%
80,00%
100,00%
120,00%
2010 2018 2019/9
Originator vs. GenericMarket Share
Value
Originator Generic
TURKISH PHARMA MARKET WHILE ORIGINATOR DRUGS DOMINATE PHARMA SALES
IN TERMS OF VALUE WITH ABOUT 70%,
THEIR SHARE IN UNIT SALES IS ABOUT 40%...
Source: IEIS
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TURKISH PHARMA MARKET ONCOLOGY REPRESENTED THE LARGEST PROPORTION BY VALUE…
ANTIBIOTICS AND ANTI-RHEUMATISM PRODUCTS
REPRESENTED THE LARGEST PROPORTION BY VOLUME…
Source: IEIS12
Therapeutical Class
(Value)
invest.gov.tr13
TURKISH PHARMA MARKET ONCOLOGY REPRESENTED THE LARGEST PROPORTION BY VALUE…
ANTIBIOTICS AND ANTI-RHEUMATISM PRODUCTS
REPRESENTED THE LARGEST PROPORTION BY VOLUME…
Source: IEIS13
Therapeutical Class
(Volume)
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7,61 7,577,14
7,758,57
10,06
11,35
13,33
16,03
18,38
5,78 6,03 5,78 66,47
7,49
9,07
11,21
14,91
19,4
0
5
10
15
20
25
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019/9
Bil
lio
nT
RY
Imported vs. Local Products(Value)
Import Local
TURKISH PHARMA MARKET BETWEEN 2010-2018 LOCAL PRODUCTS ROSE
BY 157.9% IN VALUE…
Source: IEIS
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0,33 0,37 0,38 0,39 0,4 0,43 0,43 0,430,38
0,31
1,29
1,42 1,45 1,471,52
1,631,72
1,79
1,922,02
0
0,5
1
1,5
2
2,5
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019/9
Bil
lio
n B
ox
es
Imported vs. Local Products(Volume)
Import Local
TURKISH PHARMA MARKET BETWEEN 2010-2018 LOCAL PRODUCTS
GREW BY 49.4% IN UNIT TERMS..
Source: IEIS
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20,40% 16,50% 13,30%
79,60% 83,50% 86,70%
0,00%
20,00%
40,00%
60,00%
80,00%
100,00%
120,00%
2010 2018 2019/9
Import vs. Local Market ShareVolume
Import Local
56,80% 51,80% 48,60%
43,20% 48,20% 51,40%
0,00%
20,00%
40,00%
60,00%
80,00%
100,00%
120,00%
2010 2018 2019/9
Import vs. Local Market ShareValue
Import Local
TURKISH PHARMA MARKET WHILE ORIGINATOR PRUDUCTS DOMINATE IMPORTS, LOCAL
PRODUCTION IS MAINLY IN GENERICS..
Source: IEIS
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Imported Products, 2018
Originator97%
Generic 3%
92%
8%
Outer circle: Breakdown of Sales Value
Inner circle: Breakdown of Unit Sales
Originator36%
Generic 64%
30%
70%
TURKISH PHARMA MARKET WHILE ORIGINATOR PRUDUCTS DOMINATE IMPORTS,
LOCAL PRODUCTION IS MAINLY IN GENERICS..
Locally-produced Products, 2018
Source: IEIS
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4.946 5.214
4.482 4.620 4.898 4.762 4.708
4.976 5.003 5.080
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019/9
Germany18%
USA 11%
Switzerland8%
S.Korea8%
Italy 7%
France 7%
Ireland 6%
UK 6%
606 615711
801 850925 865 897
1.173 1.218
Imports of Pharmaceutical Products(USD Million)
Exports of Pharmaceutical Products(USD Million)
93.7%
Main sources of imports
(2018)
Main exports destinations
(2018)
South Korea 30%
Iraq 5%
Switzerland
4%
Slovenia3%
Azerbaijan3%
TRNC 3%
Iran 2%
Libia 2%
FOREIGN TRADE WHILE EXPORTS HAVE BEEN INCREASING STEADILY,
TURKEY IS STILL DEPENDENT ON IMPORTED DRUGS..
Source: Turkstat,İEİS
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MAJOR PLAYERS THERE ARE 70 COMPANIES ACTIVE IN PHARMA MANUFACTURING,
14 OF THEM ARE MULTINATIONAL COMPANIES..
70 Manufacturing Companies
31R&D Centers(2018)
14 Multinational Companies (Manufacturing)
11 Raw Material Producing Companies (3 multinational)
Source: IEIS, Ministry of Industry and Technology
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92,1
194,2 191,5
210,3219,2
234,3219,5
314,1
0
50
100
150
200
250
300
350
2010 2011 2012 2013 2014 2015 2016 2017
R&D Expenditure of Turkish Pharma Sector
R&D BETWEEN 2010-2017 PHARMA R&D SPENDING GREW BY 241%…
Source: Turkstat,İEİS
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AGENDA
invest.gov.tr
Opportunities in Turkish
Pharmaceutical Industry4
Growth Drivers
in Turkey3Executive Summary1
Turkish Pharmaceutical
Industry Outlook2
invest.gov.tr22
13TH LARGEST ECONOMY
IN THE WORLD
RANKING OF ECONOMIES BY GDP AT PPP
REAL GDP GROWTH (INDEX: 2002=100)
AVERAGE ANNUAL GDP
GROWTH (%), 2003-20185.6 2.14.0 3.9 2.8
TURKEY POLAND ROMANIA CZECHIA HUNGARY
100
120
140
160
180
200
220
240
260
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
TRACK RECORD GROWTH AND
BRIGHT FUTURE WITH PROVEN RESILIENCE
ROBUST ECONOMY
2003 2018
Source: TurkStat, OECD, World Bank, IMF, PPP: Purchasing Power Parity
1.
2.
3.
5.
4.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
1.
2.
3.
5.
4.
6.
7.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
8.
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71
31 30
-0.7
-32
Domestic
Consumption
Investment
Expenditures Stocks
Imports
Exports
236
784
2002 2018
ROBUST ECONOMY DRIVEN BY A DIVERSIFIED STRUCTURE, TURKISH ECONOMY
HAS MORE THAN TRIPLED OVER THE PAST 16 YEARS
Turkish economy has more than tripled over the past
15 years and is promising more growth in future
Driven by a robust domestic market and
entrepreneurial private sector which has spurred
investments and exports
Turkish Economy (GDP at current prices, $Billion)
Contribution to GDP Growth 2002-2018* (%)
Source: TurkStat, * current prices
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Universal
Coverage
Improving
Infrastructure
Increasing # of
Healthcare
Professionals
In 2006 Universal Health
Insurance introduced to
cover all citiziens
Number of Hospital increased
from 1156 in 2002 to
1534 in 2018 (bed capacity 165K to 232K)
Number of Doctors increased
from 92K in 2002 to 153K in
2018 (from 1.4 to 1.8 per 1000)
The government introduced the Health Transformation Program
in 2003 to provide universal healthcare services.
HEALTHCARE HAS BEEN A TOP PRIORITY FOR THE TURKISH
GOVERNMENT WHICH IS COMMITTED TO INCREASING
ACCESS TO HEALTHCARE SERVICES FOR ALL CITIZENS
HEALTHCARE POLICIES
Source: TurkStat, Ministry of Health
invest.gov.tr25
61
70
80
86
9195
1996 2006 2016 2025 2035 2045
3,54,7
6,7
9,0
12,7
17,4
1996 2006 2016 2025 2035 2045
68,0
73,0
78,0
1996 2006 2017
295
702
1.088
1.274
1996 2006 2016 2017
Life Expectancy at Birth (years)
POPULATION TURKEY’S POPULATION DYNAMICS ARE
TRANSLATED INTO INCREASING HEALTHCARE SPENDING
Population over 65 (million)
Population (million)
Healthcare Spending per capita ($, PPP)
Source: Turkstat, UN, World Bank, OECD, Ministry of Health, ISPAT, Healthcare spending is total,
including public and private. PPP: Purchasing Power Parity
invest.gov.tr26
6,926,41
6,02
5,35 5,13 5,02 4,88
Tu
rke
y
Po
lan
d
Ro
man
ia
Cze
ch
ia
Bu
lgari
a
Hu
ng
ary
Slo
va
kia
287
177
804
505
University Vocational & Technical HighSchool
2002 20175,85
5,10 4,96
3,87 3,873,38 3,17
Tu
rke
y
Po
lan
d
Cze
ch
ia
Ro
man
ia
Bu
lgari
a
Hu
ng
ary
Slo
va
kia
47,244,4
39,6
31,1
14,9 14,311,5 10,7
7,0 5,6 5,6G
erm
an
y
Fra
nc
e
US
A UK
Cze
ch
ia
Slo
va
kia
Hu
ng
ary
Po
lan
d
Ro
man
ia
Bu
lgari
a
Tu
rke
y
2018 2018
75,8%
24,2%
90%
10%
University High School & Below151
120 107
87
69 62
45 42 39 35 22
Ge
rma
ny
US
A
Fra
nc
e
UK
Slo
va
kia
Po
lan
d
Hu
ng
ary
Tu
rke
y
Cze
ch
ia
Ro
man
ia
Bu
lgari
a
$K, 2017$, 2018
Annual Number of Graduates
(thousands)
Labor Force by Education Level
TURKEY’S EDUCATION SYSTEM HAS BEEN UPGRADED TO SUPPORT A
SKILLED LABOR POOL THAT MEETS BUSINESS REQUIREMENTS..
SKILLED WORKORCE
WITH COST ADVANTAGE
Availability of Qualified Engineers
(10=Available; 0=Unavailable)
Labor Cost per hour
in Manufacturing
Availability of Competent Senior Managers
(10=Available; 0=Unavailable)
Remuneration of Management/Engineer Total base salary plus bonuses and long-term incentives
Source: Ministry of National Education, Council of Higher Education, Turkstat, IMD World Competitiveness Yearbook Executive Opinion Survey based on an index from 0 to 10; Eurostat, US BLS
invest.gov.tr27
Incentives Provided by the Ministry of Industry and Technology
INCENTIVES PLENTY OF INCENTIVE INSTRUMENTS TO BENEFIT FROM..
General
Investment
Incentives
Regional
Investment
Incentives
Region 6
Incentives
Customs Duty Exemption
VAT Exemption
Corporate Tax Reduction
Social Security PremiumSupport (Employer’s Share)
Land Allocation
Interest Rate Support
+
Customs Duty Exemption
VAT Exemption
Medium-High TechIncentives
Priority Incentives
Strategic
Investment
Incentives
Regional Incentives
Social Security Premium Support (Employee’s Share)
Income Tax Withholding Support
Customs Duty Exemption
VAT Exemption
Corporate Tax Reduction
Social Security PremiumSupport (Employer’s Share)
Land Allocation
Interest Rate Support
invest.gov.tr28
INCENTIVES PLENTY OF INCENTIVE INSTRUMENTS TO BENEFIT FROM..
VAT Exemption:
Customs Duty Exemption:
Tax Reduction:
Social Security
Premium Support
(Employee’s Share):
Social Security Premium Support (Employer’s Share):
Income Tax Withholding Allowance:
Interest Rate Support:
Land Allocation:
VAT Refund:
VAT is exempt for imported and/or domestically delivered machinery and equipment within the scope of the investment incentive certificate.
Customs duty is exempt for imported machinery and equipment within the scope of the investment incentive certificate.
The income or corporate tax is calculated on basis of reduced rates until the total amount of reduced tax reaches the amount of contribution to the investment. The rate of contribution to investment refers to the rate of the total fixed investment amount that is subject to tax reduction.
For additional employment created by the investment, the employee’s share of the social security premium calculated on basis of the legal minimum wage will be covered by the government. The instrument is applicable only to investments made in Region 6 within the scope of the investment incentive certificate. There is no upper limit for Social Security Premium Support and it is applicable for 10 years.
For additional employment created by the investment, the employer’s share of the social security premium calculated on basis of the legal minimum wage will be covered by the government.
The income tax with regard to additional employment created by the investment, within the scope of the investment incentive certificate, will not be liable to withholding taxes. The instrument is applicable only to investments made in Region 6 within the scope of the investment incentive certificate. There is no upper limit for income tax withholding allowance and it is applicable for 10 years.
Interest rate support is a financial support instrument provided for investment loans with a term of at least one year obtained within the scope of an investment incentive certificate. A portion of the interest/profit share regarding the loan equivalent, at most 70 percent of the fixed investment amount registered in the investment incentive certificate, will be covered by the government for a maximum of the first five years.
Land may be allocated for investments, with an investment incentive certificate, in accordance with the rules and principles set by the Ministry of Finance, depending on the availability of such land.
VAT collected on construction expenses, made within the scope of strategic investments with a minimum fixed investment amount ofTRY 500 million, will be rebated.
Support Instruments
invest.gov.tr29
AGENDA
invest.gov.tr
Opportunities in Turkish
Pharmaceutical Industry4
Growth Drivers
in Turkey3Executive Summary1
Turkish Pharmaceutical
Industry Outlook2
invest.gov.tr30
Number of Private Sector R&D Personnel in Pharma:
1.298 (2019)
Number of University Students Enrolled in Related Fields:
+205K (2017)
Number of Accredited Private R&D Centers in Pharma:
32 (May 2019)
Number of University Research Centersin Pharma Sector:
14 (2018)
Private Sector R&D Spending in Pharma:
₺314 Million (2017)
Field Associate Degree* Undergraduate Post-graduate Total
Medicine 20.498 93.648 6.576 101.820
Chemistry 54 14.278 6.277 47.737
Biology - 23.779 9.131 29.720
Pharmacy 3.569 13.943 481 13.910
Biochemistry 173 5.177 7.696 12.238
TOTAL 24.028 150.825 30.161 205.014
*vocational training school
R&D ECOSYSTEM TURKEY’S R&D ECOSYSTEM OFFERS
ADVANTAGEOUS OPPORTUNITIES FOR PHARMA COMPANIES..
Source: MSIT, Turkstat, Council of Higher Education, Ministry of Development
invest.gov.tr31
R&D ECOSYSTEM TURKEY’S R&D ECOSYSTEM IS ALSO SUPPORTED
BY LUCRATIVE INCENTIVES EXCLUSIVE TO R&D …
100% deduction of R&D expenditure from the tax base
Income withholding tax exemption
50% social security premium exemption for employers
Stamp duty exemption
Customs duty exemption
Corporate tax exemption
Income withholding tax exemption
50% social security premium exemption for employers
Stamp duty exemption
Customs duty exemption
R&D and Innovation
Support
Technology Development
Zones
Incentives by Scientific & Technological
Research Council of Turkey
TECHNOINVESTMENT Program
Customized incentives according to project
1501 - Industrial R&D Projects Grant Programme;
Up to 60% of R&D projects could be financed through financial grant.
no budgetary limit
… and more grant programmes
Mass production of products developed out of R&D are incentivized through partial funding of;
machinery and equipment
rent and energy cost
labor cost
interests on loans for small & medium size companies.
Source: MSIT
invest.gov.tr32
Source: Property Rights Alliance International Property Rights Index, 2017
0
1
2
3
4
5
6
7
8
Overall Protection ofIntellectual
Property Rights
PatentProtection
CopyrightPiracy
2007 2017
Turkey has been accepting patent applications since 1996, in
compliance with the WTO's Trade-Related Aspects of Intellectual
Property Rights (TRIPS) agreement.
R&D ECOSYSTEM TURKEY’S REGULATORY ENVIRONMENT
PROTECTS INTELLECTUAL PROPERTY RIGHTS..
The New Law on the Protection of
Industrial Property Rights (2017)
Simplifies proceedings, adopting tighter
regulations for the protection & enforcement of
IPR.
Aligns the Turkish patent regime with its
obligations as part of the European Patent
Convention
As a candidate country, Turkey has significantly aligned its technical and
IPR legislations with the European Union acquis communautaire
Specialized Courts on IPR
There are 9 criminal and 13 çivil specialized IP
courts functioning in Ankara, İstanbul and İzmir.
IPR protection in Turkey has significantly
improved over the past decade
Intellectual Property Right in Turkey(Score: 10=Best; 0=Worst)
invest.gov.tr33
13,0
14,3
16,8
18,7
20,7
22,2
22,2
23,2
23,1
20,5
0,00,0
0,31,2
1,32,3
3,4 4,55,3 8,4
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019/9
Reference
Biosimilars
1404
1450
1613
1924
2360
2950
3296
3948 5143
5937
2.5 4,1 14,733,8
41,3
79,5123,6
190,0
281,6
528,3
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019/9
Reference
Biosimilars
• Biotechnological products constituted 17,5% of prescription products with 5,7 billion TL and 28,4 million units in the last 12 months as of March 2019.
• The reference biotechnological pharmaceutical market grew by 5,0% to total 5,4 billion TL. Biosimilar drugs market increased by 21,5%and reached 342 million TL.
BIOTECHNOLOGY BIOTECHNOLOGICAL PRODUCTS HAS BEEN
RAPIDLY GROWING IN TURKEY..
Biotechnological Products (Million TL)
18%
CAGR
Biotechnological Products (Million of Boxes)
10%
Source: IEIS
invest.gov.tr34
Breakdown of Biotechnological ProductsBox (%) Value (%)
2010 2018 2010 2018
Bio
sim
ilar
Blood and hematopoietic organs 0 81.9 0 49.6
Antineoplastics and immunomodulatory agents 100 6.2 100 30.6
Digestive system and metabolism 0 10.1 0 13.6
Systematic hormonal preparations (excluding sex hormone and insulins) 0 1.6 0 5.9
Dermatological products 0 0.1 0 0.2
Ori
gin
ato
r
Antineoplastics and immunomodulatory agents 6.9 11.1 44.2 49.9
Digestive system and metabolism 51.1 59.4 23.8 22.9
Blood and hematopoietic organs 35.1 18.0 17.3 10.8
Ophthalmological 0.1 1.4 1.5 6.2
Systematic hormonal preparations (excluding sex hormone and insulins) 1.9 3.2 4.1 3.1
Respiratory system 0.1 1.1 0.4 2.7
Genital-urinary system and sex hormones 3.3 4.9 3.8 2.3
Systematic anti-infectives 1.5 0.4 5.0 1.1
Dermatological products 0 0.0 0 0.7
Musculoskeletal system 0 0.5 0 0.3
BIOTECHNOLOGY BIOTECHNOLOGICAL PRODUCTS HAS BEEN
RAPIDLY GROWING IN TURKEY..
Source: IEIS
invest.gov.tr35
126
315
449
407
379
445
2000 2004 2008 2012 2016 2018
Phase I Phase II Phase III Phase IV PMS BA/BE Other
PMS: Postmarketing Studies; BA: Bioavailibility/BE: Bioequivalence
Source: Turkish Medicines and Medical Devices Agency Source: Pharm-Olam
WITH A LARGE NUMBER OF TREATMENT-NAÏVE PATIENTS, A PRACTICAL
REGULATORY ENVIRONMENT AND COMPETITIVE COST STRUCTURE, TURKEY
IS AN EMERGING IDEAL LOCATION FOR CLINICAL TRIALS IN THE WORLD..
CLINICAL TRIALS
Clinical Trials Ecosystem
A developing clinical research profile, supported by new regulations that are in accordance with international standards and European directives
A large and diverse patient population of almost 82 million, the majority of whom are treatment-naïve.
Consequently, Turkish people are highly motivated to participate in studies, and ready access to them makes for rapid enrolment
A high number of sites with the capacity to conduct clinical research: in university, private and government hospitals
Highly motivated research teams trained in GCP, capable of producing high-quality, reliable data
Comparatively low costs, relative to EU countries and the US
Number of Clinical Trials in Turkey
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Localization Track Record Regional Hub Enablers
CONTRACT MANUFACTURING TURKEY HAS A STRONG INDUSTRIAL BASE IN PHARMACEUTICALS
OFFERING OPPORTUNITIES FOR CONTRACT MANUFACTURING
AND LUCRATIVE PARTNERSHIPS...
Turkey’s dependency on import of pharmaceuticals is unsustainable, hence Turkey is prioritizing local production. Either direct or contact manufacturing will provide multinationals a competitive edge
Many multinational pharma companies have already cooperative agreements with the local manufacturers which have shown track record in delivering contracts
Geostrategic location offers drugmakersentry to European, MENA and Central Asian markets. Turkey has Custom Union with the EU and Free Trade Agreements with 29 countries
Skilled labor force
Low-cost manufacturing
Manufacturing incentives
R&D and Post-R&D grants
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What can Invest in
Turkey do for you?ASSIST YOU BEFORE, DURING AND AFTER YOUR ENTRY INTO TURKEY
A governmental agency
reporting to the President
Private sector approach with
public sector capabilities
Acting as your
solution partner
General & customized business information & Sectoral analysis & reports
Facilitating your investment at all stages
Site selection support to find appropriate location/land for your investment
Matchmaking with local partners & establishing business linkages
Arrangements of meetings with governmental bodies and other stakeholders
Project launch & Press release Services
AFTERSALES
Facilitating your visit to Turkey
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Contact:Derun Ulgen
38
/InvestTurkey /invest-in-turkey//InvestTurkey
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