3/16/2012

Pharma giants eyeing partnership with Turkish generics maker

Sabah - Turkish drug maker Mustafa Nevzat Ilac Sanayi is high on the to-be-invested list of global pharmaceutical companies as seven heavyweights from Pfizer to GlaxoSmithKline submitted offers for the acquisition of company’s minority stakes. Merck&Co, Mylan, Amgen, Abbott Laboratories and Fresenius are also reportedly interested in the company, according to Reuters.

At 89 years old, Mustafa Nevzat is one of the oldest pharmaceuticals companies in Turkey that produces generic drugs and exports to 33 countries worldwide, including the USA. The company may get a deal worth as much as USD 800 million, sources linked to the negotiations reveal.
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