ROOTED TURKISH PHARMACEUTICALS FIRM SOLD TO US COMPANY

An American company bought 95.6% of the shares of Turkish pharmacy firm Mustafa Nevzat Pharmaceuticals.

Rooted Turkish pharmaceuticals firm sold to US Company
Posted 25.04.2012 08:16:35 UTC
Updated 25.04.2012 08:16:35 UTC

The company said in a statement that one of the world’s biggest biotechnology firms "Amgen" has agreed to buy 95.6 percent of the shares of the $700 million worth Turkish pharmaceuticals company Mustafa Nevzat Pharmaceuticals.

The statement said also that with the purchase, to be realized totaly in cash, "Amgen" will raise its presence to a great extend in the markets in rapidly developing Turkey and its environs.

Mustafa Nevzat Pharmaceuticals, a rooted Turkish company with 90 years of experience, is currently the leader of the market in hospital supplies and injectable drugs.

Mustafa Nevzat Pharmaceuticals achieved a revenue of $200 million in 2011, reaching two-digits growth in five years.