Turkey Again Slashes Drug Prices; Manufacturers And Pharmacists Cry Foul
This article was originally published in PharmAsia News
The Turkish Social Security Institution or SGK hiked institutional pharmaceutical discounts with a new regulation in December 2010, imposing an additional 9.5% price cut to its reference pricing system
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A third round of price cuts and substantial currency depreciation has manufacturers questioning investment in Turkey.
Turkey has attracted considerable attention in recent years from multinational pharmaceutical companies looking to grow in emerging markets. But the government of the world's 12-largest pharmaceutical market has also enforced steep price cuts on drugs in each of the last two years, both times in December. With December quickly approaching, are a new round of price cuts on the horizon