Interglobe IEG and TURK Ilac join forces to invest in production (…)

Following the 3rd Africa-Turkey Summit in Istanbul in December 2021, TURK Ilac, Turkey’s leading drug and vaccine company, has developed a joint action plan with Interglobe IEG to build seven integrated manufacturing facilities on the continent, starting with Angola. Benin, Congo, Brazzaville, Guinea, Mauritania, Nigeria and Senegal.

Listed on the Istanbul Stock Exchange since 2021, TURK Ilaç is one of the largest Turkish companies specializing in the production of pharmaceuticals, including vaccines and serums.

Between 2022 and 2024, TURK Ilaç aims to set up seven integrated production plants in Africa, similar to those it has successfully achieved in Turkey. TURK Ilaç plants will be installed in Angola, Benin, Congo, Brazzaville, Guinea, Mauritania, Nigeria and Senegal, in accordance with agreements with the respective governments of these countries.

The main provider of a national vaccine immunization program, TURK Ilaç now intends to transfer its experience, knowledge and know-how to Africa to promote the emergence of the African pharmaceutical industry.

“The development of these seven production units across Africa is of paramount importance for the sustainable development not only of Africa but of the world economy as a whole.”said Mehmet Berat BattalPresident of TURK Ilaç.

TURK Ilaç also plans to strengthen and expand its presence within a single trading bloc to create unique and shared value for its investors and the African continent. In addition to Turkish medicine’s investment in the pharmaceutical sector in Africa, encouraging steps have been taken in the production of subsectors, an indispensable industry. Having attracted all the industrial capacities of the TURK Ilaç Group companies, which depend on BATTAL Holding in their country, it has managed to carry out integrated production at low cost without compromising quality.

TURK Ilaç, which has a strong financial structure, said the company would not hesitate to take action and was supported by both the authorities of the countries in which it will invest and Afrexim and other related funds. . After meetings with the competent authorities of the countries where the investments will be made, TURK Ilaç received very good feedback on the guarantee of the purchase and distribution of premises in order to stimulate local production.

This ambitious action plan and expansion project was developed and signed after the Turkey-Africa summit by the American company Interglobe, which specializes in finding investment opportunities in Africa for foreign companies. TURK Ilaç’s action plan for the continent focuses on four key areas:

● Investing in the pharmaceutical sector in Africa to ensure the health and well-being of all;

● Transfer of advanced technologies and best practices in Africa;

● Promoting women’s employment;

● Research and development.

This plan is in line with agreements signed between InterGlobe and the African Continental Free Trade Area (ZLECAF) aimed at developing the local pharmaceutical industry, creating jobs, attracting foreign investment and promoting technology transfer in Africa.

During the signing of the action plan, the Executive Chairman of the Interglobe IEG Group, Bunmi Jinadasaid: “It is worrying that trade between African countries accounts for only 18% of world trade. We firmly believe that supporting the development of a sustainable pharmaceutical industry in Africa is a powerful contribution to achieving the Sustainable Development Goals. The AFCFTA is an important tool that will accelerate and strengthen trade between African countries and between Africa and other continents, and will serve as a catalyst for sustainable development in Africa for future generations. »

The COVID-19 pandemic has shown how supply chain disruptions can affect production cycles and blockages around the world. In addition, the slowdown in drug production and rising prices have affected the global impact on pharmaceutical supplies, particularly to Africa, which is an importer of medical and pharmaceutical products.

About TURK İlaç:

TURK Pharmaceuticals and Serum Industry Inc. started its activity in 2010 within the framework of BATTAL Holding. The main activity of TURK Ilac is the production of drugs and vaccines. The company recently established the first and only vaccine company in Turkey as a private company. Today, the production facilities of TURK Ilac ve Serum Sanayi A.Ş., Akyurt district of Ankara, have a total area of ​​56,000 square meters. The plants are equipped with the latest technology, and all production equipment is designed in accordance with international standards. All production is carried out in accordance with the current principles of good manufacturing practice (GMP) and good laboratory practice (GLP). TURK Pharmaceuticals and Serum Industry Inc. operates in the Turkish pharmaceutical industry in accordance with ethical and scientific values.

About Interglobe IEG:

Interglobe IEG is an American company with an African lens that helps international companies and institutions understand how to better establish themselves in Africa. Since 1990, his team of economic development strategists and professionals from various fields (banking, insurance, agriculture, supply chains, manufacturing, etc.) has accompanied various business initiatives to develop a strategy to attract direct investment through sub-Saharan Africa’s economic development. The goal of the Interglobe IEG is to ensure that these companies properly align their values ​​and resources to ensure the sustainable development of the African continent. Interglobe IEG has a strong partnership with the African Continental Free Trade Area (ZLECAF) to support Africa’s sustainable development..

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May 13, 2022 Fr. Writing