Türkiye's pharma industry, one of the leading in the region and Europe, has seen a notable increase in R&D spending over the 2020-2024 period, according to a report on Tuesday.
The pharmaceutical industry's R&D expenditures increased 8.3 times between 2020 and 2024, rising from TL 676.2 million (about $14.2 million in current prices) to TL 5.6 billion.
According to a compilation by Anadolu Agency (AA) from a recent review report published by the Turkish Competition Board (RK), the pharmaceutical industry is identified as a field requiring significant investment capital, employing advanced technology and carrying out intensive R&D activities in recent years.
With the advancement of technology, the pharmaceutical industry is developing products not only to treat diseases but also to improve the quality of life.
Companies that develop new products and market reference drugs protected by patents, and therefore place a strong emphasis on R&D activities, are defined as originator pharmaceutical companies.
