July 24, the Turkish government has promulgated a series of measures to enhance the country's position in the global biomedical industry. Among them, to speed up the registration process of new drugs, increase government investment and the introduction of multinational pharmaceutical companies to become the biggest investment point.

  In recent years, the average growth rate of the Turkish pharmaceutical market is more than 10%, in 2013, the market shares is more than 10 billion dollars. In more than 200 pharmaceutical companies, 95% of them are foreign-funded enterprises, the first five or six pharmaceutical companies account for 90% of the market. From the production capacity point of view, Turkey's existing drug production capacity is 4 times of its market demand, all pharmaceutical companies are using the European GMP standard. However, its regulatory system has been criticized by the outside world as "suffocating."

  In reaction to the phenomenon, the government will invest in the creation of the National Institutes of Health in the coming months, with cancer and physical examination as the mainstay, as well as investment in chronic diseases, Infant, child and adolescent health, biotechnology, and traditional alternative medicine in the next three years. It is reported that Turkey will invest in research and development and investment in the field of medicine up to $1.7 billion per year.

  In addition, multinational pharmaceutical companies in the Turkish pharmaceutical market investment also played an important role. In 2012, Amgen bought MustafaNevzat, a local pharmaceutical company, for $700 million, and promised to invest $30 million to expand its business in 2013. Meanwhile, Sanofi, Otsuka and Recordati recently all announced that they will builds factories in Turkey.

  "Turkey's competitive advantage in attracting investment in pharmaceutical companies lies in its policies and a sound investment climate," said OsmanKara, secretary general of Turkey's AIFD.

  According to local government forecasts, Turkey will achieve the domestic pharmaceutical production of 23 billion dollars in 2023, and worth of foreign trade surplus reach 1.3 billion dollars. In 2013, the total value of exported drugs is $81.8 million. (Source: Bioon.com)