ISTANBUL
International CPhI Istanbul 2014 – the biggest pharma event in Eurasia – opened on Wednesday in Istanbul for the first time, bringing together local Turkish and regional drug manufacturers with global suppliers.
The three-day event – which was organized by London-based company UBM – aims to link up with leading pharmaceutical companies from Eurasia, Central Asia and Caucasus, Middle East and North Africa to create partnerships with top-level executives.
"We hope to be part of the growth of the Turkish pharmaceutical market," Chris Kilbee, Group Director of UBM’s Pharma Portfolio told Anadolu Agency during the fair.
Underlining how Turkey's economic growth has improved significantly over the recent years, Kilbee said: "We see really strong opportunities for the pharmaceutical players in this fair."
According to the OECD, Turkey is expected to be the fastest growing economy of its members, with expected annual average growth rate of 6.7% between 2011 and 2017. The Turkish pharmaceutical market is expected to reach US$22.8 billion by end 2015.
Philipp Haas, board chairman and CEO of DEVA Holding A.S. which is one of the sponsors of the fair, also spoke of Turkey's importance as a pharmaceutical market.
"With a population of close to 80 million people and market size of US$7 billion, Turkey is one of the most interesting markets in the region. We believe that Turkey is to have a permanent place for the future CPhI calendar and we will continue to support CPhI worldwide and especially Turkey in our country," Haas said.
According IMS Health 2013 data, the Turkish pharmaceutical market ranks sixth in Europe and 15th in the world. Turkey is exporting to a wide range of countries like Iran, Iraq, Switzerland, Germany, the U.S., South Korea, Slovenia and Russia.
An Indian pharmacy company at the fair also stresses importance of Turkey's position in terms of doing business. "Turkey is like a gateway to other countries like Jordan, North Africa, Iran and Iraq. That's why we put so much importance to Turkey," Ashok Vasudevan told AA.
Admission fees to be donated to Soma
UBM is to donate admission fees collected from visitors without pre-registration to the families of all workers who died after a coal mine disaster in Soma in the Turkish western city of Manisa in early May.
"I would like to extend my sympathies to the families of all those who lost their lives and our best wishes to all injured,” the group director of the UBM said.
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