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Company Formation Turkey



Open a Pharmaceutical Company in Turkey

Updated on Wednesday 13th December 2017

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The Turkish pharmaceutical industry has a good infrastructure and the country is an important producer of medicinal products. Turkey is also an exporter of pharmaceutical products, mainly to countries in the European Union, Asia and America. The pharmaceutical industry is not only an important producer and exporter, but also an important employer, hiring about 30,000 employees.
Foreign investors who want to open a pharmaceutical company in Turkey or invest in this business sector should know that the country observes strict procedures for the Good Manufacturing Practices and that there are certain criteria issued by the Turkish Ministry of Health for operating in this business sector.

The pharmaceutical industry in Turkey

A large domestic industry in the production of medicines allows for an investor friendly policy. Access to the pharmaceutical market is easy and investors can open companies as in any other business sector in Turkey. Apart from numerous domestic and international investors in the field, Turkey also enjoys a large labor pool of qualified professionals ready to work in the pharmaceutical sector.
Turkey’s pharmaceutical sector focuses its activities in certain key areas:
- research and development and the discovery of new medicinal products; 
- raw material production: the manufacturing of medicinal products or exported to other countries;
- pharmaceutical manufacturing: the effective manufacturing of human use medicinal products and medical devices in Turkey;
- wholesale: selling the pharmaceuticals to pharmacies and others;
- retail.

Regulatory bodies in Turkey for pharmaceutical activities

The pharmaceutical sector in Turkey is regulated by the Act on Medicinal Products for Human Use. The responsibility for the overall drug policy and for licensing medicinal products falls under the competence of the Turkish Ministry of Health.
The General Directorate of Pharmaceuticals and Pharmacies (GDPP) is responsible for issuing the marketing authorization for new products, their registration, pricing of pharmaceutical products, control of advertisements and the inspection of pharmaceutical manufacturers. 
In order to register pharmaceutical products in Turkey, the company requesting the authorization must also be registered in Turkey. Also, pharmaceutical companies in Turkey are VAT payers.
Foreign investors in Turkey who want to know more about the pharmaceutical business sector and how to open a company can contact our company formation agents in Istanbul.

Meet us in Istanbul

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Call us now at +90 532 351 66 77  to set up an appointment with Cagatay Altunsoy, one of our specialists in company formation in Istanbul, Turkey. Alternatively you can incorporate your company without traveling to Turkey.

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