Sabah - Japan’s Otsuka Pharmaceutical and Turkish drug maker Abdi Ibrahim are close to a partnership deal that involves joint production of drugs in Turkey. The second biggest drug maker of Japan, Otsuka developed Abilify, Pletal, Mucosta and other medicines, some of which will be produced in Turkey by the joint venture.
“This is the first time Abdi Ibrahim has a foreign partner,” said Abdi Ibrahim’s CEO Nezih Barut, adding that negotiations on the partnership deal are about to be concluded. “The deal includes both distribution and production of Otsuko-branded medicines,” he noted.
Employing over 40,000 people, Otsuko’s IPO in 2010 reached a record level of USD 2.4 billion. Turkey’s pharmaceutical market is seeing an increasing number of partnerships and acquisitions, thanks to its strong growth prospects, particularly in the generics business.