BIO International Convention and Exhibition ...
Minister of Science, Industry and Technology Nihat Ergün attended 2012 BIO International Convention in Boston. During the bilateral meetings held with the representatives and CEOs of leading pharmaceutical companies, Minister Ergün informed the participants about the incentives offered in Turkey in the field of R&D and production.
Due to the recent increase in the consumption of pharmaceuticals in Turkey, the Ministry of Health had no choice but to adopt a strict pricing policy, which created significant burden on the pharmaceutical companies. Minister Ergün pointed to the significant improvements in pharmaceuticals’ pricing policy and stated that the prices of the pharmaceuticals reduced considerably in the past 10 years.
Referring to the increasing bargaining power of the Ministry of Health on the prices of the pharmaceuticals, Minister Ergün noted that the pricing policies were of utmost importance.
Baxter decides to invest in Turkey
Minister Ergün stated that there were many companies, which considered Turkey as an R&D and production base in pharmaceuticals and added that Eczacıbaşı Baxter is currently working on a new investment in Turkey on the production of new pharmaceuticals. Minister Ergün noted that the initial amount of investment to be made by Eczacıbaşı Baxter will be around 170 – 180 million dollars.
The Minister attends the opening ceremony of the Turkish Pavilion at BIO Conference
Minister Ergün pointed to the fact that biotechnology is heavily dependant on R&D and that it was not only closely related to health issues, but it also covered issues such as the environment, agriculture, food and genetics. Minister Ergün also noted that the countries in the world attached great importance to biotechnology and, therefore, 15 thousand participants attended the BIO Conference this year.
Minister Ergün also met the Governor of Massachusetts, Deval Patrick. Before the meeting, the Minister stated that he would inform the Governor about the incentive mechanisms in Turkey as well as the opportunities offered by the sound economic stance in Turkey.