Eczacıbaşı makes a strategic move in healthcare

Eczacıbaşı makes a strategic move in healthcare

June 29, 2022
The Eczacıbaşı Group has signed an acquisition agreement in pharmaceuticals of strategic importance for its activities in Turkey and international markets. The Group is further strengthening its presence in export markets by acquiring Gensenta, one of Turkey’s first pharmaceutical companies and twice the industry’s leading exporter in past years, from the pioneering US biopharmaceutical firm Amgen. Eczacıbaşı will pay US $135 million for a 99.96 percent stake in the company.

Eczacıbaşı, founder of Turkey’s first modern pharmaceutical plant, is making a strategic acquisition in healthcare on its 80th anniversary. The Group has announced an agreement with US biopharmaceutical pioneer Amgen to purchase its 99.96 percent stake in Gensenta for US $135 million. With this acquisition, Eczacıbaşı will move one step closer to becoming a major healthcare player in Turkey and international markets. The purchase of Gensenta will be finalized upon receiving the approval of the Turkish Competition Authority.

Bülent Eczacıbaşı, Chairperson of the Board of Eczacıbaşı Holding, noted that the acquisition of Gensenta represented a significant investment in the healthcare field and said, “As a company that aspires to being a pioneer of modern, high quality and healthy living, we will expand our healthcare activities both in Turkey and international markets with innovative products and a wide product portfolio in different treatment areas. This acquisition fuels our growth by adding local production capabilities in pharmaceuticals, biosimilar products, and active ingredients to our investment portfolio as well as export competency.”

According to information provided by Amgen, following the strategic decision to sell Gensenta, Amgen Turkey will continue its operations and serve its patients in the country.

Growing the healthcare business through exports

Gensenta is one of Turkey’s most established companies. Founded as a laboratory in 1923 and incorporated as Mustafa Nevzat Pharmaceuticals in 1957, the company set many industry benchmarks before its acquisition by the US-based biopharmaceutical pioneer Amgen in 2012. In 2020, the company was renamed Gensenta. Exporting to a variety of countries, Gensenta has twice been the export champion of Turkey’s pharmaceutical industry. With international sales accounting for 47% of its revenue as of end-2021, Gensenta will make a significant contribution to the Eczacıbaşı Group's exports and international growth strategy in the field of healthcare.

Underpinned by modern production facilities and a highly skilled team of about 800 employees, Gensenta is a leading Turkish manufacturer of finished pharmaceuticals and active ingredients and the most important producer and exporter of lyophilized vials in its region. Gensenta also manufactures penicillin, Etodolac, and other active ingredients at its production site for pharmaceutical ingredients.

Continuing our tradition of service to public health

With its purchase of Gensenta, Eczacıbaşı will advance its ability to serve public health both in Turkey and abroad through the provision of world-class pharmaceuticals and holistic healthcare solutions.

Eczacıbaşı Monrol, one of the most important links in Eczacıbaşı’s holistic approach to healthcare, produces radiopharmaceuticals to EU-GMP standards and aims to apply its expertise in nuclear medicine to the field of oncology with targeted therapy products. Eczacıbaşı Monrol’s products are being used by the world’s most respected cancer centers in their clinical trials for innovative therapies.

Eczacıbaşı Pharmaceuticals Marketing continues to expand both its activities in strategic new areas and its portfolio of products focused on public health.