Atabay İlaç Aims to Reduce Foreign Dependency
Atabay Pharma Aims to Reduce Import Dependency
Atabay distributes its raw materials to 35 countries worldwide. Having expanded exports in 2022, Atabay targets a 25% increase in exports in 2023 with entry into new markets.
Atabay Pharma, launched with the goal of making Turkey self-sufficient in pharmaceuticals and now one of the sector's leading companies in pharmaceutical active ingredient production and finished drug development, has realized USD 220 million in exports to 55 countries over the past 10 years in both raw materials and finished products. Due to domestic market contraction and drug costs being affected by currency fluctuations, Atabay has accelerated export efforts, stating: "As a result of work in this area, our exports have shown growth compared to previous years."
Entry into new markets in 2023
Atabay holds US FDA approval since 1985 at its raw material facilities and EU GMP (Good Manufacturing Practices) certification across all pharmaceutical facilities, ranking among Turkey's leading companies investing in R&D and developing human resources. Through backward integration of paracetamol raw material and improved synthesis methods developed over time, Atabay has become the sole producer in Europe and neighbouring geographies, distributing this raw material to 35 countries worldwide. Yusuf Adanur, Sales and Export Director at Atabay Pharma who has completed 35 years with the company, stated that they plan to enter new markets for finished products in 2023, saying they have strengthened their export team with new manager Cengiz Özlütıraş and "Beyond near geography (MENA - Arabian Peninsula), Africa, South Asia and Latin America, we have launched more focused initiatives in European countries thanks to EU GMP certification obtained for our production lines. Additionally, in Commonwealth of Independent States (CIS) countries, we have begun investments in Kazakhstan to position our country's products. Through these efforts, we registered 30 of our products and opened our Atabay office in Kazakhstan. This work was also appreciated by Kazakhstan President Kasim-Jomart Tokayev. Furthermore, by opening an office in Bulgaria and initiating registration procedures for our products, we have taken our first step toward having a say in the European Union market. With these initiatives, our goal is to increase exports by 25% in 2023," he said. Additionally, while R&D work continues on new drug development, newly developed drugs for foreign markets are planned to be exported in line with patient needs.Advertisement
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