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"A major British pharmaceutical company, GlaxoSmithKline has chosen to relocate its offices currently servicing the Middle East and North African (MENA) markets from Dubai to Istanbul. Amongst the deciding factors were Turkey’s continued economic strength as well as major improvements to the national airline.
Turkish Airlines are based in Istanbul and serve all 30 of the target destinations of the company making it very easy for GlaxoSmithKline to access these countries. GlaxoSmithKline currently has a £1.2 billion share of the pharmaceutical market in MENA countries, and also has plans to increase investments in Turkey. The general manager for GlaxoSmithKline in Turkey is to head the MENA offices.
Other factors which influenced GlaxoSmithKline's decision to move to Istanbul were Turkey’s strategic geological position, its growing political influence in the region and also the fact that its population is very young. Turkey's economic growth rate is only second in the world after China and this emerging economy could have far more influence in the world in the years to come.
GlaxoSmithKline in Turkey is due to combine research and development with production investments, as this will help diversify their product portfolio with generic medications while introducing new technology into the country. The company is also looking to purchase a suitable firm who will be able to produce pharmaceuticals for export to MENA countries.
The company is no newcomer to Turkey as it has been in the market for 50 years, and has seen access to medication improve with the help of an increased government budget, even though many still face difficulties when dealing with the government funded health service.
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