Turkey's Abdi Ibrahim, India's Strides Agree Alliance

June 2006 | Company Finance Alert

Indian generics firm Strides has agreed a joint venture with Turkish drugmaker Abdi Ibrahim to sell its products in Turkey and in neighbouring countries. The Turkish drug market is currently worth around US$6.6bn and is growing rapidly as the country's economy recovers. Meanwhile, a large and expanding population, coupled with the long-term prospect of EU accession makes the market an attractive bet in the long term. The new JV will be called Abdi Strides, and aims to leverage the manufacturing and product pipeline of Strides with the sales and marketing resources of Abdi

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