New Healthcare research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 10/05/2012 -- BMI View: Our view is that, as one of the world's major emerging economies, Turkey will continue to attract international investment across many industries. However, multinational drugmakers looking to invest should be fully aware of the dichotomy of the market: the long-term macroeconomic and demographic indicators are highly favourable, but the government's continued involvement and intervention, particularly in regard to drug pricing, has meant innovative drugmakers have to sell their medicines at a heavy discount compared with developed Europe. Suggestions that the government will no longer pursue strict drug price negotiations should be welcomed, but firms will require something more concrete before reassessing their view on the market. Multinationals may find that efforts by the government to favour procurement from firms with a local production or research and development (R&D) presence could be as damaging as the price cuts for the companies excluded from this group.
View Full Report Details and Table of Contents
Headline Expenditure Projections
- Pharmaceuticals: TRY17.21bn (US$10.24bn) in 2011 to TRY18.10bn (US$7.78bn) in 2012; +5.2% in local currency terms and -4.5% in US dollar terms. Local currency forecast broadly unchanged from Q312.
- Healthcare: TRY83.58bn (US$49.74bn) in 2011 to TRY91.12bn (US$49.25bn) in 2012; +9.0% in local currency terms and -1.0%in US dollar terms. Local currency forecast broadly unchanged from Q312.
- Medical devices: TRY4.33bn (US$2.57bn) in 2011 to TRY4.75bn (US$2.57bn) in 2012; +9.7% in local currency terms and -0.4% in US dollar terms. Local currency forecast increased from Q312 on account of new historical data.
Risk/Reward Rating: In our latest regional matrix, comprising 20 key markets in Emerging Europe, Turkey remains 11th, despite a 2.8% quarter-on-quarter (q-o-q) decrease in its composite score. The reduction is a result of the weakened outlook for the country's pharmaceutical market, as measured in US dollars. Globally, Turkey is sandwiched between Latvia above and Estonia below, ranking 45th out of 95 countries surveyed.
Key Trends And Developments
- In April 2012, and contrary to our original expectations, US-based biotechnology company Amgen announced that it was acquiring 95.6% of shares in Mustafa Nevzat Ilac Sanayi Pharmaceuticals (MN), a privately-held Turkish generic drugmaker. According to the firm, the transaction will significantly expand its presence in Turkey and the surrounding region, which are large, fast-growing, priority markets for Amgen. In addition to Amgen, six global pharmaceutical companies, including US-based Pfizer and GlaxoSmithKline (GSK), Merck & Co, Mylan, Abbott Laboratories and Fresenius were interested in the Turkish producer.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Healthcare research reports at Fast Market Research
You may also be interested in these related reports:
- Sweden Pharmaceuticals & Healthcare Report Q4 2012
- Cipher Pharmaceuticals Inc. (DND) - Pharmaceuticals & Healthcare - Deals and Alliances Profile
- Egypt Pharmaceuticals & Healthcare Report Q4 2012
- Netherlands Pharmaceuticals & Healthcare Report Q4 2012
- Galectin Therapeutics, Inc. (GALT) - Pharmaceuticals & Healthcare - Deals and Alliances Profile
- Latvia Pharmaceuticals & Healthcare Report Q4 2012
- Australia Pharmaceuticals & Healthcare Report Q4 2012
- Taiwan Pharmaceuticals & Healthcare Report Q4 2012
- Pharmaceutical & Healthcare Annual Deals Analysis 2012
- Abbott Laboratories (ABT) - Pharmaceuticals & Healthcare - Deals and Alliances Profile
Copyright © 2005-2014 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-593-5640 (International)