12/23/2013

Turkish-South Korean pharma companies join forces for the EU market

Sabah – South Korean biotech company Genexine and Turkish generics maker Ilko Ilac have announced the establishment of a JV in Turkey, marking Genexine’s entry into Europe’s 6th and world’s 14th largest pharmaceutical market.


The JV, ILKOGEN, will focus on the development and commercialization of medicinal products for the EU market, taking advantage of Turkey as a strategic base.


Turkey’s promising biotech market witnessed the largest takeover in recent years when US biotech giant AMGEN acquired local Mustafa Nevzat for USD 700 million in 2012. The same year also saw France-based Sanofi relocating its regional headquarters from Dubai to Istanbul, an excellent management center for multinationals with large customer bases spread across a wide geographic region.

turkey; healthcare sector; turkey pharmaceuticals; genexine turkey; ilko ilac; ilkogen; turkey pharma sector