Updated on 16 November 2012
The new company will market Otsuka's innovative drugs in the Turkish market
Singapore: Japan-headquartered Otsuka Pharmaceutical and Turkish firm Abdi Ibrahim have established a joint venture, Abdi Ibrahim Otsuka Pharmaceutical, to bring to the Turkish market innovative pharmaceuticals that have been produced as the result of Otsuka's research and development.
The joint venture will strengthen the power of Abdi İbrahim in the market. Abdi Ibrahim, a leading pharmaceutical company in Turkey, and Otsuka have invested 50 percent each towards the venture.
The new company will be marketing in the Turkish market and sell Otsuka's innovative drugs. "Today we are very proud to have established a joint company with Otsuka, a company that we have had a strong cooperation with as a licensor for the past 10 years," said Mr Nezih Barut, chairman of Abdi İbrahim, following the establishment of the joint venture. "With this new company we will be presenting the Turkish public with the innovative approaches that Otsuka, a leading Japanese company, has in the global pharmaceutical market."
"It is a great pleasure to ally with Abdi Ibrahim, the leading Turkish pharmaceutical company, for the marketing of Otsuka's products," said Dr Taro Iwamoto, president and representative director of Otsuka Pharmaceutical. "We shall strive together for the greatest benefit and contentment of the local patients in Turkey, as we collaborate equally in our partnership by sharing our knowledge and experiences over plentiful discussion."