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Turkey Wins Drug Price Cut as Outlay Exceeds Budget, Sabah Says

Oct. 21 (Bloomberg) -- Turkey’s government won a price reduction from pharmaceuticals makers that will help limit a likely overspend this year on drugs, Sabah newspaper reported.

The price of drugs retailing for more than 10 liras ($5.40) will fall as much as 10 percent, the Istanbul-based newspaper reported.

The state-run healthcare purchaser requested the reduction after spending on pharmaceuticals reached 16.6 billion liras, compared with a year-end target of 15.6 billion liras, Sabah said.

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To contact the reporter on this story: Steve Bryant in Ankara at sbryant5@bloomberg.net

To contact the editor responsible for this story: Steve Bryant at sbryant5@bloomberg.net

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