Pharma Industry Braces For Tough Times In Turkey As Turkish Lira Fluctuates
In the recent crisis between Turkey and the US, the Turkish lira went down in value against major currencies, including the euro. In Turkey, product prices are determined on the basis of the euro, for which the government applies a fixed rate. As the difference between the two conversion rates grows, companies lose out forcing the industry to search for ways to cut its losses.
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