A biopharmaceutical company based in the U.S., Gilead Sciences took a decision to invest in Turkey’s Pharmactive to produce HIV and Hepatitis drugs in Turkey.
According to a statement released by Gilead Sciences, the investment is expected to reach TRY 350 million, including the machinery and equipment for local manufacturing, capital increase and transfer of know-how as part of the partnership agreement signed between Gilead and Pharmactive back in 2019.
Gilead has been active in Turkey since 2007 and the company’s total investments in the country have already surpassed USD 6 million, along with 30 clinical research centers.
The statement also emphasized, “With this new investment, Turkey is aimed to transform into a potential pharmaceutical export hub. The partnership will enable Turkey to manufacture new therapies and will eliminate the need of importing pharmaceuticals worth of USD 250 million until 2024.”