Actavis acquires remaining stake in Turkish pharmaceutical company Fako
Actavis acquired an 89% stake in Fako in December 2003 for an initial purchase price of US$63 million. In addition, Actavis agreed to provide Fako with up to US$15 million to assist its funding requirements.
Fako is Turkey's fifth-largest generic pharmaceutical company, specialising in the development, production and sales of pharmaceuticals. It has a total workforce of around 1,200 employees. Along with its headquarters in Istanbul, the company has 10 sales offices throughout Turkey. Fako also develops and produces active pharmaceutical ingredients.
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