"No subsidies required," drugmaker tells Turkey

The Turkish subsidiary of a USA-headquartered drug major says drugmakers do not want subsidies from the government, but for Turkey to have the right investment environment.

Jeff Kemprecos, US drug major Merck Sharp and Dohme's director for external affairs in Turkey, told the Turkish Daily News that, "as research-based companies we don't want financial assistance from the Turkish government." He added: "we'll spend the money; we just want the conditions. We want Turkey to be globally competitive."

Mr Kemprecos noted that, over the next 12 months, drugmakers will spend over $60.0 billion on R&D, adding: "while 10-20 years ago that amount was spent within industrial countries, now an increasing share of that money is spent outside industrial countries. So the research is going to globalize."