The Importance of the Pharmaceutical Sector Emerges Once Again

The coronavirus outbreak has once again demonstrated the vital importance of the pharmaceutical sector to the world. Tuğçe Koç, Chair of the Board of Onko & Koçsel, stated that the company achieved 52% growth in 2019 with revenue of TRY 352 million, and their sales target for this year is to reach TRY 550 million with 56% growth. Tuğçe Koç made the following remarks on the matter: "This outbreak will be neither the first nor the last. Throughout human history, numerous epidemics have caused serious loss of life. In the technological age we live in, we continue to face such challenges. COVID-19, which has once again reminded us of the vital importance of the pharmaceutical sector, is being closely monitored by us as an organization operating in the pharmaceutical industry. In this outbreak period, which has produced very serious consequences first in China, then in Italy and subsequently in the United States, our government and Ministry of Health are mounting an important struggle. We are contributing to the battle that our healthcare workers are conducting with great dedication by continuing production without interruption and ensuring uninterrupted delivery of medicines that patients need. It is of great importance that we all comply together with the precautions taken under the coordination of the Ministry of Health, and particularly with the recommendations to stay at home," he said. Koç also emphasized that as a company with 35 years of history in the sector, they are ready to provide all kinds of support to produce any medicine that the Ministry of Health needs to be manufactured in this field. Noting that Turkey's pharmaceutical market is also drawing a rapid growth curve, Koç continued as follows: "Turkey's pharmaceutical market reached TRY 40.7 billion in value in 2019 and a volume of 2.37 billion units by box measure. The reference pharmaceutical market closed 2019 at TRY 27 billion in value, while 0.92 billion box sales were realized by box measure. The generic pharmaceutical market reached TRY 913.7 billion in value in 2019 and a volume of 1.44 billion units by box measure," he said.