Localization Barriers To Trade In Medicines And Health Care Products: The Tricky Business Of Balancing Competing Interests
There is a clear tension at a global level between the need for the international movement of pharmaceutical products and the need for access to affordable medicines to support a sustainable health care system. Lincoln Tsang examines the global environment and suggests it is something that the British medicines and health care products industries will need to bear in mind when considering the prospect of the UK leaving the EU under WTO terms, as some are advocating.
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After unsuccessful negotiations with Turkey on its discriminatory policies against foreign drug producers, the EU has asked the World Trade Organization to set up a dispute settlement panel to resolve the matter.
The EU has filed a complaint at the WTO against Turkey’s localization policy, which forces multinational pharmaceutical companies to produce medicines in Turkey. Industry sources say the EU may not get what it wants.
Production localization and the fixed rate set for the euro against the lira will be key topics for the pharma industry in Turkey this year, with the expected further devaluation of the domestic currency likely to inflict more damage on companies. Turgut Tokgöz, secretary general of the Turkish industry association, spoke to Scrip.