Istanbul – Casey Eye International (CFI) has agreed to pay $100 million to Turkey to establish a new facility to manage the funding of a pharmaceutical research project.
Casey Eye International announced in July it was moving its $90 million facility in London’s Docklands to Turkey as part of a $1 billion package to help the Turkish pharmaceutical industry.
Turkey has a history of supporting pharmaceutical companies and has a huge domestic market.
The country has the world’s highest per capita number of pharmaceutical patents, and is home to a large pharmaceutical sector that includes CFI.
Turkish pharmaceutical firms have invested $3.7 billion in CFI’s research and development programmes, which has helped boost the country’s pharma industry.