Eczacıbaşı Group, the founder of Turkey's first modern pharmaceutical plant, announced Wednesday that it has reached an agreement to purchase a 99.96% stake in Gensenta, which is owned by the pioneering U.S. pharmaceutical company Amgen, for $135 million.

The purchase of Gensenta will be finalized once approved by the Turkish Competition Authority.

Bülent Eczacıbaşı, the chairperson of the board of Eczacıbaşı Holding, said that the acquisition of Gensenta represents a significant investment in the health care field.

"As a company that aspires to be a pioneer of modern, high quality and healthy living, we will expand our health care activities both in Turkey and international markets with innovative products and a wide product portfolio in different treatment areas," he said.

Eczacıbaşı stressed that the acquisition fuels growth "by adding local production capabilities in pharmaceuticals, biosimilar products, and active ingredients to our investment portfolio as well as export competency."

Amgen stated that it will continue its activities in Turkey and continue to serve patients following the strategic sale of Gensenta.

Gensenta is among Turkey's most established companies in the pharmaceutical industry. The company, which started its operations as a laboratory in 1923 and broke new ground in the sector as Mustafa Nevzat Pharmaceuticals since 1957, was purchased by Amgen in 2012. The name of the company was then changed to Gensenta in 2020.

According to the statement made by the company; Gensenta, which exports to different countries, became the export champion in the sector twice in the past years. Gensenta, which has gained some 47% of its revenues as of the end of 2021, is among the most important lyophilized vial producers and exporters in Turkey and the region. Penicillin group, Etodolac and other active pharmaceutical ingredients are produced at Gensenta raw material production facilities.