As the sale process for Turkey’s Biofarma continues on, the list of potential buyers is down to three – with GlaxoSmithKline being one of them. Though the remaining two bidders have not been revealed, the winner should be known within a few months.
Owners Citi Venture Capital, Global Finance, and Partners in life Sciences have hired JPMorgan Chase to handle the sale, which is expected to command a price between USD 600 million and USD 700 million.
GlaxoSmithKline (www.gsk.com)
U.K-based GlaxoSmithKline (GSK) is a pharmaceutical concern with a presence in more than 100 countries worldwide.
As a leader in medical research, GSK’s R&D labs in the U.K., the U.S., China, and Belgium produce cutting-edge pharmaceuticals for healthcare facilities as well as the World Health Organization and their three primary projects: malaria, TB, and HIV. The company also produces drugs for treatment of other well-known issues such as diabetes, asthma, cardiovascular disease, and more.
The company employs more than 96,000 individuals in 100 countries, including 13,000 researchers. In 2010 GSK delivered 1.4 billion doses of various vaccines to 178 countries. Overall GSK commands approximately 5% of the global pharmaceutical market.
Biofarma (www.biofarma.com.tr)
Biofarma is a Turkish drug maker tracing its roots back to 1945. As such, it is one of the oldest medical-related companies in the country.
Biofarma produces generic drugs for both domestic and international use, all according to worldwide standards. The company’s facilities in Istanbul cover a total work space area of 15.000 m2; they have been in their current location since 1990.
16/04/2011
Central & Eastern Europe, Healthcare Service & Pharmaceuticals, Rumors & Speculation, Turkey