Drugmakers Lost $3.5 Billion As Turkey Cut Prices, Hurriyet Says
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Drugmakers in Turkey lost about $3.5 billion in sales in 2010 after the government cut prices as much as 50 percent in successive reductions, Hurriyet said, citing Engin Guner, vice chairman of the country’s original drugmakers association.
Price reductions also led to about 2,000 job losses in the 25,000-strong drug employment market in Turkey, said Guner, of the Istanbul-based Research-based Pharmaceutical Cos., according to the newspaper.