Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Amgen Agrees To Buy 95.6% Of Shares In Turkey's Mustafa Nevzat - Quick Facts

RELATED NEWS
Trade AMGN now with 

Amgen (AMGN: Quote) said it agreed to buy acquire 95.6 percent of shares in Mustafa Nevzat Pharmaceuticals, a privately held Turkish pharmaceutical company, for an an amount that values Mustafa Nevzat at $700 million. The all-cash transaction will significantly expand Amgen's presence in Turkey and the surrounding region, which are large, fast-growing, priority markets for Amgen.

Mustafa Nevzat, or MN, had revenues of approximately $200 million in 2011 and has grown on average at double-digit rates in local currency over the past five years.

"This transaction represents an attractive opportunity for MN, its employees and customers," said Levent Selamoglu, general manager and chief executive officer of MN. "The combination of MN and Amgen creates an innovation leader in Turkey with unique capabilities and scope to expand regionally and in other attractive high-growth markets. Amgen's focus and resources will also ensure continued investment in Turkey."

The transaction has been approved by the Board of Directors of each company. Completion of the transaction is subject to customary closing conditions, including regulatory approvals.

Register
To receive FREE breaking news email alerts for Amgen Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks came under pressure in early trading on Friday and remained firmly in the red throughout the remainder of the trading session. With the losses on the day, the S&P 500 pulled back well off yesterday's record closing high. President Barack Obama is meeting with presidents from Central American nations on Friday as the U.S. struggles to deal with a surge of unaccompanied children across the southern border. Despite calls from some leading conservatives, the results of a new CNN/ORC International poll released Friday showed that a vast majority of Americans do not believe that President Barack Obama should be impeached and removed from office.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.