"Recordati completes Turkish buy, more acquisitions to come
23 December 2008
Recordati of Italy has completed the acquisition of Turkish pharmaceutical firm Yeni Ilac for 48 million euros.
The Milan-based group says that the purchase of Yeni Ilaç represents part of its strategy to expand in the emerging markets of central and eastern Europe. Founded in 1927, Yeni Ilac’s sales are expected to reach around 17 million euros and the firm, which is headquartered near Istanbul, employs 300 staff, of which around 100 are medical representatives."
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