Turkey Pharmaceuticals & Healthcare Q1 2019
Turkey's pharmaceuticals and healthcare markets are set for robust growth over the long term, outperforming themajority of its regional peers. Continued growth in public spending will support market growth, driven by the Health TransformationPlan. However, we highlight that increasing macro risks, emphasised by the lira sell-off in August 2018, will increasingly placedownside risks to this expansionary fiscal outlook, leading to growth deceleration over the long term. Moreover, innovativedrugmakers will remain averse to the high degree of risks inherent in the market from localisation and pricing policies.
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