Health & Medical IndustryNews

Turkish generic producer to receive a big offer from pharma giants for minority stakes

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mustafa_nevzatAlthough the Turkish pharmaceutical sector has been going through a challenging period foreign enterprises have not ceased keeping a good eye on this rapidly growing market.

Among the most succesful Turkish companies in the sector Mustafa Nevzat İlaç Sanayii has attracted much attention, in particular and thus received interesting offers from foreign giants in the sector.

The company is first-in-the-row on the to-be-invested list of global pharmaceutical companies as several giants to include Pfizer and GlaxoSmithKline submitted offers for the acquisition of said company’s minority stakes. Other large ones such as Merck&Co, Mylan, Amgen, Abbott Laboratories and Fresenius are also reported to have shown interest in the company

Established almost 90 years ago, Mustafa Nevzat is known to be the major  producer of generic drugs in Turkey. The company also exports to over 30 foriegn countries to include the USA.

The experts  forecast that Mustafa Nevzat might receive an offer for USD 800 million.

16.03.2012
Editor, BTT

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