Turkey: CPhI Istanbul Shares Trends and Challenges Turkish Pharma Forecast to Grow by 15.6 %
Experts and executives debated the region’s major opportunities and challenges during CPhI Istanbul. Key growth factors mentioned there, were outsourcing, vaccine development and biotechnology emerging as major trends.
Istanbul/Turkey – Attending experts claimed that during the next five years, regional outsourcing would continue to accelerate as governments seek to have more medicine produced locally.
At the event, CPhI also published their Turkey Pharma Report, which shows a 15.6 % growth of the sector to 15.9 billion lira. Haluk Balcı, Chief Operating Officer in Turkey in UBM Emea (Istanbul), commenting on the report: “The biggest development in 2016 for the pharma industry is the initiative commenced by the government to reduce imports and increase local production in the pharma industry. Certainly the developments in localization will set the course of the Turkish pharma industry in the years to come.”