The sharp decline of the Turkish Lira has driven the cost of medicines in Turkey and North Cyprus up by 26.4%. Last week the Turkish authorities and pharmaceutical companies agreed to increase the price of medicines by 26.4%, it was announced.
The move was designed to compensate suppliers whose profit margins had been hit by the plummeting Turkish Lira last year.
Chairman of the Turkish Cypriot pharmacists’ association (KTEB) Suay Sevinc, told Turkish Cypriot daily ‘Kibris’ that the change in prices took effect on February 19, 2019, adding that the decision on hiking prices was implemented simultaneously in Turkey and in North Cyprus.
Kibris
