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Turkey has many of the ingredients of an excellent investment location as well as being popular tourism destination with low real estate prices, buy-to-let and a strong r

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

e-sale market.

Low Real Estate Prices
The housing market in Turkey was held up behind Europe as a result of the difficulty of obtaining mortgages. The majority of r

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

eal estate purchases until recently were funded through inheritance or savings, which set a limit on the flourishing property market simply by not being affordable. The T

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

rkish Government is committed to strengthening the mortgage market, which is an important step because short loan terms and high interest rates mean that at the moment on

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

ly 3% of housing finance in Turkey currently stems from bank credits.

Turkey approves a new mortgage law this February (2007). This new law is expected to be enacted in

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

May 2007. Provision of mortgages with low interest rates will make housing more affordable and cause house prices to head upwards.

The government of Turkish law was pass

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

d in January 2006, and confirmed the right of foreigners to buy property under 2.5 hectares in size for personal use or business. It is now possible for foreigners to obt

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

ain a local mortgage, further encouraging this emerging market.

Strong Resale Market
Turkey is getting richer, and house prices will grow accordingly with the incre

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

asing wealth of the country. The Turkish economy grew by 9.9% in 2004 alone, the highest recorded growth that year within an OECD country. Morgan Stanley's global economi

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

s team believes the Turkish economy will continue to outperform the rest of the world, as the growth rate of real gross domestic product (GDP) accelerates from 6.2 percen

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

t in 2005 to 6.5 percent in 2006 and then on to 6.8 percent in 2007. Turkish population growth is around 2% per annum with 70% of the population younger than 30, and this

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

is creating a very strong local market with good purchasing power. Investors would not be reliant on international investors for re-sales, hence strong internal propert

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

market demand should increase.

Foreign Investors
Turkey has received a large amount of foreign investment. This investment is being used to rapidly improve Turkey’

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

s infrastructure. Property funds based in Europe and the Gulf are also pouring money into the country, with Dubai a particularly heavy investor in Turkey as an attractive

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

destination. Corporate investors are creating new resorts, golf courses and other tourist facilities, while public funds are targeted at improving roads and airports. Th

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

se are clear indications of a growing tourist economy that will greatly boost capital growth for today’s property investments. Huge golf tourism is evolving in Antalya-Be

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

lek, which will increase the value of any investment in that region.

Strong Buy to Let market
Over 25 million tourists visit Turkey each year, boosting the property

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

market and creating strong "buy to let" possibilities. Gross rental yields in Turkey vary from moderate to high. Properties in major city centres offer yields of 7.6%, w

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ile property in coastal areas can yield from 13% up to an impressive 16%. The low cost of living and affordable and frequent flights from most European cities are making

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

the country an easy place in which to have a second home.

All in all, Turkey has a great deal to offer to buyer – be it for investment, retirement or just a holiday home

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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