Domestic and international pharmaceutical industries collaborated on the development and release of biosimilar products that are of equal strength and are used to treat the same disease as reference drugs to the domestic and foreign markets.
With this strategic collaboration agreement involving three biosimilar products and realized in international arena, these products will be registered and subsequently marketed in Turkey. The Turkish company will also manufacture the drug substance and proprietary medicine once the factory investment is complete.This collaboration drew all eyes upon Turkey in the sphere of pharmaceutical industries and also made an impact on world’s most significant economic platforms such as Business Wire and Nasdaq.
Mehmet Göker, Chief Executive of the domestic company TR-Pharm stated that this achievement was a national pride and Turkey made itself heard in pharmaceutical industry as well.
‘NOT A CONSUMING, BUT A PRODUCING COUNTRY’
With the help of the Ministry of Health, Turkey has begun to work towards new health strategies in order to become a producing country instead of a consuming one, Göker stated, later adding;
“Biosimilars are a key feature of our investment strategy in Turkey to establish biotechnological API (active pharmaceutical ingredient) production for national use and exportation to regional countries. We are pleased to have already started the preliminary preparations for manufacturing the high quality biosimilar products of the international firm, which holds a sway over significant markets such as USA, Russia and Commonwealth of Independent States, Venezuela and India.”
‘TURKEY IS A RISING ECONOMY’
Motupalli Venkata Ramana, Executive Vice President of Product Marketing in the International Dr.Reddy’s Pharmaceutical Industry named Turkey as a significant country among the emerging markets in this field.
Indicating that the local patients would have access to high quality biosimilar products thanks to the domestic firm, Ramana stated that “We are pleased to partner with Turkey. Thanks to our cooperation, we will provide access to affordable and innovative drugs to populations around the world.”
Remarking that the preliminary preparations for the technology transfer has begun, Ramana said “This collaboration will be an important component of the development and manufacturing of biological products in the region.”
WHAT IS BIOSIMILAR MEDICINE?
Biosimilar medicine is composed of medicines that show similarity to authorized biological reference drugs. Active ingredients of biologically similar products are similar to corresponding reference drugs. Biosimilar and biological reference drugs are generally of equal strength and are used to treat the same disease.
Biosimilar drugs differ from biologic reference drugs only in their commercial names, their aspects and their features in packaging. In order to produce biosimilar drugs, all of the work concerning these drugs, including its clinical investigations, needs to be completed.