Turkey Company Roundup: Baxter Rejigs JV, Sanofi Mulls Insulin Plant
This article was originally published in PharmAsia News
Following its spin-off from Baxter, Baxalta has formed a new partnership with a leading Turkish firm, while Sanofi Turkey is considering the local manufacture of an insulin product. Elsewhere, senior management changes have taken place at GSK and Bayer.
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The devaluation of the Turkish Lira since May is making imports of medical devices more expensive and putting hospital procurement under renewed pressure. The local medtech industry associations TUMDEF and ARTED describe the problems ̶ and the solutions ̶ to Medtech Insight.
Turkish medtechs’ demands for payment of their outstanding hospital debts went unheeded in 2021, but the government has finally started a payment process. It is not evenly applied, and has started in a small way, but the industry feels encouraged on more than one count.
Amid delays in surgical operations caused by shortages of equipment and medtech companies demanding payment of outstanding hospital debts, a strong devaluation of the Turkish lira has put the local health care system on a crisis footing.