Haberturk – US biotechnology company Amgen has announced a deal to acquire 95.6 percent shares of Turkish generic drug maker, Mustafa Nevzat Ilac. The all-cash deal will considerably up Amgen’s presence and reach in the emerging market economies surrounding Turkey.
"Together with Mustafa Nevzat staff and management team, we plan to grow our business with high quality and innovative medicines in Turkey and the surrounding region..", Amgen Chief Operating Officer Bob Bradway said about the USD 700 million deal.
One of the oldest pharmaceutical companies in Turkey, Mustafa Nevzat is the leading supplier of drugs to hospitals in Turkey and a major supplier of injectable products. It also has a fast-growing export business that is spread out to 33 countries including the USA. A highly sought-after target for acquisition, the privately held Mustafa Nevzat had been on the list of global giants GlaxoSmithKline, Pfizer, Eli Lilly and others.
Past foreign-partnered deals in Turkey’s pharmaceutical sector include Zentiva, the Czech unit of French company Sanofi, acquiring 100 percent of local producer Eczacibasi’s generic drug business in two separate deals.