Turkey Fighting Uphill Battle In Pitch For Pharma, Medtech Investment
Hoping to bring in more foreign investment and local production, Turkey is working hard to convince pharma and medtech companies of its attractions, but this effort is set to become even more challenging in the wake of the recent unsuccessful coup attempt and corporate worries over political instability.
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Turkey has designated health sciences, and the pharmaceutical industry in particular, as a strategic sector to support economic development, and the government appears determined to turn the country into a regional hub by supporting production and high-value exports. The national reimbursement body has recently been restructured to promote these goals but the industry is cautious.
Turkey’s efforts to control rising rates of COVID-19 are compromising the ability of hospitals to pay their debts to medtech and pharmaceutical companies. The government has devised a payments plan, but there is catch.
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.