Turkey has raised the reference euro rate used to calculate medicine prices in two stages, a move expected to push drug prices higher, according to a regulation published in the Official Gazette.
The regulation stipulates that the reference euro rate used in pharmaceutical pricing will be increased on two separate dates.
The first adjustment took effect on March 13, raising the rate from 25.33 Turkish lira to 26.87 lira. A second increase scheduled for April 1 will push the reference rate to 29.11 lira.
Taken together, the changes represent an increase of about 14.9 percent in the reference euro rate used in Turkey’s drug pricing system.
In Turkey medicine prices are not calculated using the market exchange rate but through a government-set reference euro rate used in a pricing formula. As a result, changes to this rate typically lead to higher medicine prices.
The government also revised the pricing formula itself. Under the previous system, the reference rate corresponded to 60 percent of the average euro exchange rate. The new regulation raises this ratio to 65 percent starting in April.
Officials say the change is intended to help ensure the availability of medicines and support domestic pharmaceutical production.
Pharmacists warn of growing pressure
Turkey’s All Pharmacist Employers Union (TEIS) said the challenges facing the pharmaceutical sector extend beyond periodic exchange rate adjustments and are rooted in the broader drug pricing and reimbursement system.
According to the union, the reference euro rate used in pricing medicines remains far below the actual market exchange rate. TEIS noted that while the reference rate was raised to 26.87 lira, the euro currently trades at more than 51 lira.
The widening gap is placing increasing pressure on the pharmaceutical sector, the union said. Domestic manufacturers are struggling to secure raw materials, while some imported medicines have begun disappearing from the Turkish market, weakening the drug supply chain.
TEIS warned that the current pricing system is becoming increasingly unsustainable under these conditions.