Turkey's Abdi Ibrahim Beats Multinationals On Domestic Pharma Market
The Turkish pharmaceutical market reached $5.6bn in 2017. Despite strong competition from multinationals, Abdi Ibrahim, a local company, was market leader last year with a turnover of $380m. It was followed by Novartis and Pfizer.
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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.