NEWSLETTER-2017

388 NEWSLETTER 2017 General Legal Framework of Pharmaceutical Industry in Turkey* Att. Ekin Ersanli Introduction Medicine has been defined by the World Health Organization as “ products that are used to change or analyze physiological and patho- logical circumstances to the benefit of the user. ” 1 Under Turkish law, medicine corresponds to “ substance or a combination of substances of natural and/or synthetical origin applied to humans to cure a disease and/or prevent, to make a diagnosis or to restore, regulate or change a function. ” 2 By nature, the pharmaceutical sector is a dynamic sector full of challenges and affected by scientific developments, research and de- velopment activities, and changing human needs. On the other hand, as the rewards increase along with the risks, 3 the pharmaceutical sector is a profitable sector that adds value. Global Pharmaceutical Sector The global pharmaceutical sector has been experiencing rapid growth and development as a result of the acceleration of scientific developments and demographical changes. Average increase rates in annual health expenses between the years 2014-2018 has reached 2.4% * Article of January 2017 1 Istanbul Chamber of Pharmacists, Youth Commission, http://www.istanbulec - zaciodasi.org.tr/?cat=10&page=komisyon. 2 Article 3(1)(g) – Regulation on Repayment of Medicine by Social Security Insti- tution ( Sosyal Güvenlik Kurumu İlaç Geri Ödeme Yönetmeliği ) published on the Official Gazette dated 10 February 2016 and numbered 29620 (“ Regulation on Repayment of Medicine by Social Security Institution ”). 3 Risk/Reward Ratio Definition Investopedia, http://www.investopedia.com/ terms/r/riskrewardratio.asp#ixzz4WlQulp00.