Eczacıbaşı Pharmaceuticals Manufacturing of Istanbul has acquired half of Monrol Nuclear Products of Kocaeli, Turkey.
Monrol specializes in the production, import, and distribution of radiopharmaceuticals for nuclear medicine.
Eczacıbaşı's 50% stake in Monrol is based on an upper limit of 60 million Turkish liras ($50 million U.S.) for the company's total share value. The transaction's final value will be determined by Monrol's performance in 2008.
The transaction follows the restructuring of the Eczacıbaşı Pharmaceuticals division in 2007. The company is considering more initiatives and investments in nuclear medicine and plans to continue its expansion into hospital supplies, peritoneal dialysis, hemodialysis, home healthcare, and the pharmaceutical market.
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