Amgen Completes Acquisition Of Turkey's Mustafa Nevzat Pharmaceuticals

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6/12/2012 4:27 PM ET

Biotechnology firm Amgen (AMGN: Quote) Tuesday said it completed the acquisition of more than 99 percent of the shares of Turkey's Mustafa Nevzat Pharmaceuticals.

On April 25, Amgen agreed to buy 95.6 percent stake in Mustafa Nevzat Pharmaceuticals for $700 million in cash.

Mustafa Nevzat Pharmaceuticals supplies pharmaceuticals and injectable medicines in Turkey. It also has a fast growing export business. Amgen expects the acquisition to expand its presence in Turkey and the surrounding region, which are fast-growing, priority markets for the company.

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