Amgen to sell Turkish unit Gensenta for $135M
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Amgen (NASDAQ:AMGN) has reached an agreement with Turkish pharmaceutical company EczacÄ±baÅÄ± Group to sell a 99.96% stake in its Istanbul-based unit Gensenta for $135M, Daily Sabah reported Wednesday.
Following the agreement, Amgen (AMGN) said it would continue to operate and serve patients in the country. The deal is expected to be finalized with the approval of the Turkish Competition Authority.

Gensenta operated as Mustafa Nevzat Pharmaceuticals since 1957. Amgen (AMGN) acquired the company in 2012, changing the name to Gensenta in 2020.
Announcing the deal, BÃ¼lent EczacÄ±baÅÄ±, the chairperson of the board of EczacÄ±baÅÄ± Holding, said the acquisition marked a noteworthy investment in healthcare.
âAs 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,â EczacÄ±baÅÄ± said.
Read: Early this month, Wells Fargo named Amgen (AMGN) as a large pharma company with a significant pipeline need as the M&A activity in biotech intensified.