Zentiva, the prominent Czech pharmaceutical manufacturer, has completed the acquisition of the drug producer Eczacibasi Zentiva, based in Turkey, thereby considerably strengthening its position on the Turkish market, according to a report in the Turkish Hurriyet Daily News. Zentiva bought the remaining 25% stake in the company, which was worth $253.6m (€179.1m). Earlier in 2007, it had acquired a 75% stake in the Turkish factory, then named Eczacibasi Generic Pharmaceuticals.
The Turkish acquisition is Zentiva’s most significant foreign investment. As a result of this move, Zentiva has secured itself the position of the third largest generic drug manufacturer in Turkey. In 2008 the Turkish branch of Zentiva generated revenue of CZK 3.19bn (€122.3m), which was just slightly behind the Czech branch of the company, which earned CZK 4bn (€153.32m).
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