Zentiva buys stake in generics business |
|
|
|
Published
:
Mon, 05 Mar 2007 18:53
|
PRAGUE, Czech Republic (AP) - Czech pharmaceutical company Zentiva AS said Monday it agreed to buy a majority stake in the generic drug business of Turkey's Eczacibasi for 460 million euros ($606.2 million) in cash as it seeks to broaden its geographical range.The acquisition of the 75 percent stake makes Zentiva the third-largest generic drug company in Turkey. Eczacibasi Generic Pharmaceuticals posted sales of 362.3 million Turkish lira ($254.1 million) in 2006.Zentiva makes and sells generic drugs in Central and Eastern Europe, including products for pain, cardiovascular diseases and disorders of the central nervous system.Zentiva shares added 0.2 percent to 1,218 Czech koruna ($57.15) on the Prague stock exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
Print this Story
Zentiva to buy stake in Eczacibasi unit 