According to a report released by Deloitte Turkey titled “The Pharmaceutical Industry in Turkey and the World: Growth Prospects,” Turkey is one of the top 15 most important pharmaceutical markets, taking 12th place between Mexico and emerging market giant India.
Turkey’s pharmaceutical industry could create great value for the economy and lead to an overall increase in innovation, but it lags behind in R&D investment, making up only $38 million of the $100 billion spent on R&D worldwide, the report said. The global pharmaceutical industry, which spends 16 percent of its revenue on R&D, takes the title of being the most R&D-focused industry and is responsible for 18.5 percent of total global spending on R&D. For Turkey, however, while the necessary foundation to make these investments in R&D exists, political support is needed, according to Güler Hülya Yılmaz, the head of Deloitte Turkey’s Health and Drug Industry division.
 |
“In R&D, it’s important that there be a strong foundation for laying the bricks of innovation. Turkey has that foundation, but with this there is a need for government support of new research and partnerships between industry and academia. Our renowned scientists and our young, dynamic and well-equipped brain power can create miracles,” Yılmaz said, stressing that proper support for R&D in the pharmaceutical industry can contribute to the economy far beyond drug development and production.
R&D can also break Turkey’s dependence on imports of drug, the report noted, and transform the country into a net exporter of pharmaceuticals. Noting that exports are quite low when compared to the size of the domestic pharmaceutical industry, the report continued by highlighting that investments to both increase domestic production and, more importantly, expand R&D can help Turkey become a net exporter. These investments in R&D would not only help the industry to grow but would also add to Turkey’s academic foundation and knowledge. “With a high-value-added sector like medicine,” the report highlighted, “progress will be gradual and will come with time. The scientific advancements coming about [from R&D] can help accelerate and sustain economic development.”
Pfizer launches R&D center
Meanwhile, pharmaceutical giant Pfizer launched an R&D office in Ankara on Tuesday, the result of a strategic cooperation between Pfizer and Hacettepe University, and aims to support studies on new molecule discovery. Pfizer and Hacettepe University plan to carry out projects on new drug discoveries, information transfer, infrastructure development and support of scientific research.
