Am­gen sells its Turk­ish man­u­fac­tur­ing arm for $135M

Phar­ma gi­ant Am­gen has de­cid­ed to sell off its Turk­ish man­u­fac­tur­ing arm for nine fig­ures.

The Ecza­cıbaşı Group has ac­quired Gensen­ta from the Cal­i­for­nia-based phar­ma. The deal will see Ecza­cıbaşı pay $135 mil­lion for a 99.96% stake in the com­pa­ny. The pur­chase of Gensen­ta will be fi­nal­ized af­ter it gets ap­proval from the Turk­ish Com­pe­ti­tion Au­thor­i­ty.

Ac­cord­ing to Ecza­cıbaşı, Am­gen Turkey will con­tin­ue to keep its op­er­a­tions run­ning and serve its cus­tomers.

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