With the developments that have taken place in global trade and in finance markets, the world economy displayed a better performance in 2017 compared with the previous year. On the other hand, the variable exchange rate also had influences on the pharmaceutical industry of our country. Despite all these challenging circumstances, we as DEVA Holding, successfully completed year 2017 in second place with 6.2% market share in sales volume, according to IMS Health free market sales volume data (free market + tenders).
2017 has been a year in which we created value and difference for sustained success of DEVA, and accomplished important projects. With Tamoxifen, one of our new products, we wrote a success story which we can relate proudly as part of the history of our company. With a protective effect for approximately 5-10 years following treatment in breast cancer patients, tamoxifen, which had long been exported in insufficient amounts to our country, has become a critical need for the patients. We took action to meet this need of patients to manufacture the first domestic tamoxifen used in this field in our FDA- and EU GMP-approved facilities, and offered for the use of medical community. We believe that it is also a duty of social responsibility to meet patients’ needs in such situations as this where patients suffer from hardship of access to treatment.
As a domestic pharmaceutical company, we are manufacturing more products in new therapeutic fields every year with our added-value equivalent products. With our product portfolio which we reinforced further in strategic fields such as oncology, ophthalmology, cardiology and respiratory system, we not only work to ease the lives of the patients and their relatives but also make favorable contributions to public drug spending budget by offering cost-effective therapies. To this end, we have offered many new products for the use of medical community in 2017.
With the belief that everyone on the global scale has the right to access healthy life, we as DEVA are manufacturing for the whole world. Following the first FDA approval we received in 2016, one more of our manufacturing facilities completed FDA’s approval process successfully. We are now exporting the products manufactured in facilities with quality standards registered by the major healthcare authorities of the world to many countries including the USA. We realized consignments of two products, Esomeprazol and Temozolomide to the States in 2017. Our company also started to function in Germany under the name of Devatis and covered a considerable distance in a short span of time, with our imatinib product which is used for cancer treatment becoming a preferred brand. We currently have more than 500 marketing authorizations in over 50 countries. As a domestic pharmaceutical company, it makes us proud to see our products on the shelves of pharmacies all around the world.
We create value both in staffing and production in today’s world in which domestic production has become extremely important, and contribute to economy. In addition to our endeavors to increase our production capacity, we continue to make new investments without slowing down. In this context, we laid the foundations of a logistic center in 2017. From the facility built on 8600 m2 with a capacity of 32000 pallets which we will soon put into service, we expect to distribute up to 2 million units of medicines daily. This facility, which will gather all products manufactured for domestic and foreign markets, is the largest logistic center among the pharmaceutical companies in Turkey.
Our investments to R&D and innovation have an important place in the groundwork of our sustained growth capability. We allocated approximately 7% of our financial turnover last year to R&D. Awards such as the Golden Mortar award we received as the best R&D company with our lenalidomide study encourages us for the better. To this end, we will continue to allocate resources to the projects that will feed our innovativeness and to develop new ones in the days to come.
We believe that a healthy future lies on a healthy society and with our social responsibility understanding, we work to convey what we learn from the society to the service of that society. Within this context, we are undertaking projects to raise public awareness of specific diseases. We continue to sponsor our national athlete Şahika Ercümen who contracted allergic asthma in her childhood and is now making us all proud by breaking the world record in free diving. We also support the education of successful students in faculties of medicine and pharmacy while undertaking public interest projects in collaboration with the Turkish Red Crescent Organization and non-governmental organizations like Save the Children.
As of end of year 2017, we are employing more than 2000 people and believe that our people with competency in their areas are the key element in our success. We value our human resources to be able to manage our growing product portfolio effectively, to adapt to the business manners required by the competitive environment rapidly and to ensure our sustained success in the long term. We are taking firm steps without compromising our corporate values like teamwork, human focus, reliability, openness to change and evolvement, accountability and resilience in the face of adversities, which guide us in our ways of working.
As DEVA, with the awareness of being one of the leading and deepest-rooted corporations in our country and our liable perspective and strong team, we will continue to work and add value for healthy future as we are completing our 60th year into the journey we embarked in 1958.
Very truly and respectfully yours,
Chairman & CEO