Amgen To Shell Out $669M For Turkish Drugmaker

Law360, New York (April 25, 2012, 3:08 PM EDT) -- California biotech giant Amgen Inc. is grabbing a majority stake in Mustafa Nevzat Pharmaceuticals, a family-owned Turkish maker of cancer medicines and a vital portal to the Middle Eastern country's drug market, for about $669.2 million, the companies said Wednesday.

Approved by the boards of directors of both companies, the all-cash deal gives Amgen a 95.6 percent stake in MN Pharmaceuticals and boosts its presence in the fast-growing Turkish market that it has recently targeted as a key site for its international growth plans, Amgen said....
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