Strides Arcolab to export special pharma products to Turkey

Bangalore, June 12 (UNI) Major pharma products manufacturer and exporter, Strides Arcolab Limited, has signed a joint venture agreement with Turkey's largest pharmaceutical company Abdi Ibrahim to introduce a range of speciality drugs in Turkey and neighbouring markets.

The new company had been launched on a 50-50 partnership basis, a release from Strides Acrolab here said today.

Commenting on the agreement, Strides Arcolab Vice Chairman and CEO said ''Abdi Strides is another milestone in our value partnership model. We are confident that this joint venture agreement will deliver outstanding results for stakeholders of both Abdu Ibrahim and Strides.'' The pharmaceutical market of Turkey, with a population of 70 million, was currently valued at 6.6 billion Dollars and was amongst the fastest growing pharmaceutical markets in the world. Turkey was likely to join European Union in the near future.

''This partnership is very valuable for us since it strongly supports our vision of being a global company,'' the release said, quoting Mr Nezih Barut, Chairman, Abdi Ibrahim.

UNI RS RG GM1652