Turkey’s Pharmaceutical Budget Nearing Decision; Pharma Waits For Impact
This article was originally published in PharmAsia News
Pharma companies have weathered three rounds of price cuts in recent years, but there are signs that the worst may be over for now in Turkey.
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AiFD Vice Chairman Engin Guner On Price Cuts In Turkey And Mounting Pressure On Industry: An Interview With PharmAsia News (Part 1 of 2)
A former law maker and leader of the Turkish parliamentary delegation to the Council of Europe, Engin Guner knows about how policy works. The vice chairman of the Association of Research-Based Pharmaceutical Companies (AiFD), which represents Big Pharma in Turkey, emphasizes that government price cuts and related policy challenges, combined with currency depreciation, are taking a heavy toll on the industry.
The Turkish medtech industry’s ongoing hospital payments problems appeared likely to come back onto the government’s agenda, with the national economy recovering somewhat in late 2019. But COVID-19 dashed those hopes.
Growth prospects for Turkey’s medical technology market are significant, but local companies have complained about public policies that are harmful to business and about the ongoing crisis in the hospital system. Now, international medtechs are starting to react, with some downscaling local operations and portfolios. Association of Research Based Medical Technologies Manufacturers president Umut Gokalp laid out the problems being faced by industry, and what action he thinks the government should take.