Amgen To Acquire Turkish Drug Firm | Chemical & Engineering News
Volume 90 Issue 18 | p. 19 | Concentrates
Issue Date: April 30, 2012

Amgen To Acquire Turkish Drug Firm

Department: Business
Keywords: pharmaceuticals, emerging markets, M&A

Amgen has agreed to pay $700 million for Turkey-based Mustafa Nevzat Pharmaceuticals. Privately held Mustafa Nevzat, which had sales of roughly $200 million in 2011, is a leading supplier of drugs to Turkish hospitals. Like many of its big pharma competitors, Amgen has been pushing into emerging markets; last year, it paid $215 million for the Brazilian generic drug firm Bergamo. Amgen established a Turkish affiliate in 2010 that markets two products in the country.

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