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Amgen to buy Turkish firm in $700M deal

By   /   Wednesday, April 25th, 2012  /   Comments Off on Amgen to buy Turkish firm in $700M deal

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Thousand Oaks-based Amgen said it will acquire Mustafa Nevzat Pharmaceuticals, a major supplier of pharmaceuticals and injectable medicines in Turkey, in a deal that values the Turkish firm at $700 million.

Amgen said that its focus on Turkey and the surrounding region is part of a broad international expansion strategy for the company. Amgen established an affiliate in Turkey in 2010 and currently markets two products there, with plans to develop its robust pipeline of clinical candidates in Turkey and other international markets, the company said.

Amgen shares were up 1.7 percent to $69.73 after the news.

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