THOUSAND OAKS, Calif. — Biotech drug maker Amgen is buying a pharmaceutical company based in Turkey, the companies said Wednesday.
Amgen said it would acquire 95.6% of Istanbul-based Mustafa Nevzat for $700 million in an all-cash deal, saying the purchase would allow it to expand in Turkey and the surrounding region. The company, also known as MN, is a major supplier of injectable drugs in Turkey and, increasingly, an exporter of medicines.
"Amgen is dedicated to making our innovative medicines available to patients in major markets around the world," Amgen president and CEO Robert Bradway said. "Together with MN's staff and management team, we plan to grow our business with high-quality and innovative medicines in Turkey and the surrounding region."