Issue Date: March 12, 2007
Zentiva Agrees To Buy Turkish Generics Firm
Prague-based Zentiva has agreed to pay roughly $600 million for a 75% stake in Turkish generic drug supplier Eczacibasi. The deal includes a clause that allows Zentiva to buy the remaining 25% in two years. Zentiva says the acquisition furthers a strategy to expand its position in Central and Eastern Europe. IMS Health projects Turkey will be among the top 10 drug markets in the world by 2010. Eczacibasi, which had sales of about $260 million in 2006, markets branded generic drugs and offers contract manufacturing of active pharmaceutical ingredients.
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