Turkey not on radar, Merck’s Turner says
Anatolia News Agency
ATLANTA, Georgia – Turkey has great investment potential, according to many companies that participated in the 2009 BIO International Convention, organized by the Biotechnology Industry Organization.
However, in order to lure investments from pharmaceutical firms, Turkey should implement some legislative arrangements, said the leaders of the industry, who gathered in the Georgia World Congress Center in Atlanta. About 14,352 industry leaders from 58 countries participated in the event, held between May 18 and May 21.
“Turkey is not on our radar. However, it is a large market. It also is a potential member of the European Union. However, it has to improve,” said Mervyn J. Turner, senior vice president of Merck, one of the largest pharmaceutical firms. As a developing country, Turkey should invest more in science, he said.
“Before investing in a country we evaluate how the government and decision making institutions of that country approach us. We look at which industries they support and then decide on whether to invest or not,” said Turner. “It is very important for a country to have the right infrastructure. It should also be home to experts. Intellectual property rights should also be safeguarded and the authorization system should be effective.”
“Experts around the world are working on cancer medication. There is a need for tens of thousands of test subjects. Turkey should also be conducting clinical research on the issue,” Turner said.
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