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8 Apr 2011

GSK among Final Bidders for Turkey's Biofarma

With pharma growth slowing in mature markets such as the U.S. and Western Europe, drugmakers have increasingly been looking eastward for expansion.

GlaxoSmithKline is one of three remaining bidders for the Turkish generics firm Biofarma. GSK is competing with two other multinational companies, with a winning bidder to be chosen within two or three months.


Turkey's pharma market is expected to grow by 7.3 percent annually over the next several years, IMS Health has said. And besides access to the Turkish market, Biofarma also offers its generics expertise and production capacity at a time when blockbuster meds are going off patent, thus giving copycat drugs a bigger role.

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