As such, the survey advances the apprehension of the industry specific nature of FDI plus the temporal manner of FDI into Turkey during the dissimilar periods. The research consequences suggest that international pharmaceutical houses ‘ FDI into Turkey were determined preponderantly by location-specific factors. This happening partly supports Tormenting ‘s ( 1988 ) eclectic paradigm and Taggart ‘s ( 1973 ) three-division theory on transnational pharmaceutical houses ‘ FDI activities. However, it was consistent by agencies of the mainly recent surveies on transnational houses ‘ determinations to put in Turkey. The research consequences reveal that four factors, viz. Turkey ‘s souk size by agencies of its great possible, rapid economic growing and growing, Turkey ‘s unfastened door policy and comparatively stable political conditions have been the main motives in pulling international pharmaceutical houses ‘ direct guess into the Turkish pharmaceutical fabrication industry during the period as of 1980 to 1998.
Incentive policies provided by Turkey had no main impact on houses ‘ FDI determinations. The low labor cost and social-cultural related factors appeared to be undistinguished to international pharmaceutical houses ‘ FDI determinations into Turkey. Steady GDP growing, augment of income per capita, consistent augment of per capita annually expenditure on medical specialty and medical services, together by agencies of over 1.2 billion people make Turkey ‘s souk size plus souk growing potential the chiefly important motive amid the four head factors. ( Henriot, 2003 )
The significance of the other three primary factors depends on the timing of FDI into Turkey. Turkey ‘s open-door policy played the 2nd chiefly important function in promoting international guess peculiarly during the early phases of Turkey ‘s economic reform and socialism souk growing. The announcement of the Law of the People ‘s Republic of Turkey on Joint Ventures Using Turkish and Foreign Speculation in July 1979 was a momentous event in opening up the Turkish economic system. The gradual execution of the unfastened door policy represented a discovery as of past economic growing scheme in Turkey. The unfastened door policy was a strong signal to the outside universe bespeaking Turkey ‘s purpose to interrupt out of its international isolation and turn out to be sharply involved in universe economic activities after three decennaries of isolation and cardinal planning of the economic system. The unfastened door policy brought fresh chances for foreign investors who intended to turn trade in the Turkish souk. ( Josef, 2006 )
The rapid economic growing plus growing, combined by agencies of the comparatively stable political conditions in Turkey, has had important impact on international investors ‘ determinations to do direct guess in the state, peculiarly since 1992. The addresss of Turkey ‘s former leader, Deng Xiaoping, published in 1992, accelerated the procedure of Turkish economic reform and opened up the economic system for foreign guesss ensuing in a positive impact on economic growing and political conditions in the state. This in bend contributed to the late entrants ‘ FDI determinations to put in Turkey. ( Josef, 2006 )
This survey in add-on demonstrated that the inducements provided by the Turkish authorities would chiefly probably be treated as an extra advantage by chiefly international pharmaceutical houses, instead than a decisive factor on their FDI determinations to Turkey. This determination supports old surveies, chiefly based on FDI in the US, and nevertheless does non hold by agencies of the findings of recent surveies based on FDI in Turkey. This might be for the ground that the pharmaceutical industry is a farther technology-based, instead than a labor-intensive, industry.
International pharmaceutical houses that invested their capital plus engineering into Turkey did so by agencies of the primary end of accessing Turkey ‘s potentially immense souk for their merchandises. Normally, export-oriented FDI has invested chiefly in labor-intensive industries. Incentives, hence, might be important for export-oriented guesss in labor-intensive industries in Turkey. For comparable grounds, inexpensive labor, low constitution costs and societal cultural related factors would non hold important effects on international pharmaceutical houses ‘ FDI determinations into the Turkish pharmaceutical fabrication industry. This determination supports Henriot, ( 2003 ) elucidation sing the impact of Turkey ‘s low cost of labor on foreign houses ‘ determinations to put in the state. ( Josef, 2006 )
Health services have a important topographic point in drug disbursement, particularly the United States, European Union and Japan to see the tendency in several states is a rapid augment. International research organisations IMS ( Information Medical Statistics ) , manufacturer monetary values in 2001 made entire world-wide pharmaceutical gross revenues were calculated as 442 billion Euros. United States and the North American souk Kanadadan the fastest turning souk and the entire souk 47sini % ( 209 billion Euros ) has formed. North America gross revenues, Europe ( 23.7 % ) and Japan ( 12 % ) followed. Drug gross revenues growing rate in 2001 was 10 % in ABDde 17 % in Europe. Heart-vascular system, cardinal nervous system, digestive system plus metamorphosis merchandises formed the largest group of three drug gross revenues. ( Josef, 2006 )
European Federation of Pharmaceutical Industries and Associations ( EFPIA ) members in 17 states in entire drug disbursement in 2000 of 89, is 7 billion Euros. Turkey in 2000 monetary values and the maker of the entire drug outgo is EUR 2.95 billion. Turkey of the same twelvemonth, manufacturer monetary values in entire drug disbursement EFPIA members of 17 European states, 3.3 % u ; 393 billion Euro in 2000 as manufacturer monetary values of entire universe usage of medical specialties in the bin 7.5 UDUR. Even though the universe pharmaceutical drug usage of a little portion of the last 10 old ages, about 4 times augment will in add-on show, that really rapid growing in our souk for the ground that of the inclination of international attending to multinational drug monopoly. After all, Turkey ‘s pharmaceutical souk growing tendencies in the U.S. pharmaceutical souk 1960lA± and 70li shows similarities by agencies of the state for multinational companies will assure a bright hereafter.
U.S. R & A ; D guess and fresh medical specialties developed in Europe is left behind. ( Josef, 2006 )
1997 harmonizing to IMS Health informations, and so developed in the pharmaceutical souk, gross revenues of fresh U.S. souks in 62si % of gross revenues, while the European souk has made 21ini % .
Evaluated by agencies of the United States of the European pharmaceutical industry fight, while a comparatively low research and growing ( R & A ; D ) activities related to the strength of kaymaktadA±r.3 North America or Europe in the last 10 old ages, R & A ; D activities in gradual diminution as the fresh taking technology-related research particularly outside of Europe was directed ABDye. European Pharmaceutical Industries and Associations Federation ( EFPIA ) Member States: Germany, Austria, Belgium, Denmark, Finland, France, Netherlands, United Kingdom, Ireland, Spain, Sweden, Switzerland, Italy, Norway, Portugal, Turkey and Greece are.
Pharmaceutical R & A ; D procedure and until the European 1990lara freshly developed drugs, was the universe leader. However, this lead to gradual diminution and the first clip in 1997 the U.S. pharmaceutical industry, European challengers by capturing the entire R & A ; D disbursement was in front. R & A ; D guesss flanked by 1990 plus 2001 augmented by 5 times in Europe ABDde augmented merely 2.4 times gosterdi. ( Henriot, 2003 )
Ten old ages ago, research-based companies will pass further than the mainly were the pharmaceutical companies in Europe. In 1990 pharmaceutical companies in the universe based on entire research outgos of the company belonging to Europe was 73u % , 59A % 1999da this ratio declined. Much of this transportation was developed in the way of the United States. 8 billion Euro in 1990 in Europe as drug R & A ; D disbursement in 2001 rose to EUR 18.8 billion. USA, in 1990, pharmaceutical R & A ; D disbursement by 5.3 billion Euros this twelvemonth, disbursement in Europe back in 2001 has augmented to EUR 26.4 billion and Europe was left unfastened to difference. The pharmaceutical R & A ; D disbursement in Japan 1990da 2.8 billion Euros in 2000 was augmented by 2.6 times to 7.5 billion Euros in 2000, chiefly yukseldi. R & A ; D disbursement as of the 40 companies 15i Europe, 13u USA, 12si of the Nipponese pharmaceutical industry R & A ; D disbursement kokenlidir. Turkish is unluckily non a few. ( Henriot, 2003 )
The freshly developed chemical and biological merchandises in the period 1987-1991 the European 101i, 54u the U.S. , Japan, 65i, 8i, when belonging to other states in the period 1997-2001 the European 79u, 84u the U.S. , Japan, 29u, 4u belong to other states. World souks in the twelvemonth 2001 version of the 36 fresh chemical and biological merchandises 13u Europe, 16sA± U.S. , Japan, 5i, 2si other developed states, and introduced a fresh version kaynaklA±dA±r. sum up, the chemical merchandises in the U.S. , Europe and Japan T in recent old ages has left behind. These states are located outside the metropolis by agencies of other states behind the difference is clear.
Polish European Union Countries in the Pharmaceutical Trade Balance Improves diminution, while Turkey is European Federation of Pharmaceutical Industries and Associations ( EFPIA ) flanked by the old ages 1990-2000 in the member states on a twelvemonth of pharmaceutical exports augmented by about 4 times as of 89 billion Euro was EUR 23 billion. These exports in 2000 entire production tallness of sing 70idir % . Export / production rate is so high in the European pharmaceutical industry in international souks is an indicant of the continued competitory strength. ( Carstensen, 2004 )
EU states, this augment in exports in trade by agencies of states outside Europe the inclination was observed. Exports to these states, entire exports of 9.4 billion Euros in 1990 plus is 40A±dA±r % in 2000 to augment about 4 times augmented to EUR 35.6 billion. In 2000, the chief commercial spouse of the EU states exports volume by agencies of 10.3 billion Euros