Turkey’s large population, research hospitals, low cost of investment, and geographical proximity to fast-developing markets, all combine to mean the country is well placed to emerge as a global pharmaceutical, healthcare and life sciences hub. The Turkish government acknowledges the importance of supporting and encouraging the further development of life sciences, as can be seen by legislation providing incentives for research and development projects and over all the life sciences industry. The Turkish Government aims to make Turkey one of the world’s top ten economies in health services by 2023 by increasing research and development expenditures to 3% of GDP and by increasing exports to $500 billion. The government also plans to establish a “medicine valley” in Istanbul.
The unique nature of each client and transaction are readily evident in the life sciences industry, where clients and their products are often innovative and ground-breaking. Our firm is well connected with the regulatory, entrepreneurial, scientific and medical communities, helping us to understand our clients’ business goals and how to best support our clients in achieving them.
Turkey has many prominent generic-drug manufacturers, pharmaceutical companies, and medical device producers which combine to create an active and expanding healthcare market. These local manufacturing capabilities for generic and name-brand drugs are a powerful incentive for foreign companies to move production to Turkey, while local brands are also increasing production. Turkey’s growing population and unmet medical needs further drive the growth in the healthcare market.
Our clients range from emerging medical start-ups through to established multi-nationals. We also advise venture capital and private equity clients who invest in pharmaceutical, healthcare and life sciences companies. These include original, generic and orphan pharmaceuticals, medical devices, implants and diagnostics, as well as baby-care and tele-medicine services. We also advise clients involved in developing raw chemicals, as well as biotechnological (such as plant seed), biocidal and veterinary products.
We draft and negotiate all types of agreements for clients in this area, including toll manufacturing, supply, license, co-marketing, and joint development agreements. We also provide clients with a full range of corporate advisory services, including advice on daily matters, tax and customs disputes. Due to advising a wide variety of clients in this pharmaceutical, healthcare and life sciences industries, we understand the different legal and strategic approaches necessary for mergers, acquisitions and restructures in these areas.
Our strong intellectual property team enables us to provide integrated strategic counseling and protection with regard to a full range of intellectual property rights, including trademarks, patents and trade secrets, as well as associated enforcement and dispute resolution.