EastPharma was established in 2006 with the aim of becoming a major player in the fast growing emerging markets pharmaceutical sector by means of organic growth, acquisitions and consolidation in fragmented markets.
Since EastPharma acquired control of the Turkish generic pharmaceutical company Deva in 2006, and Saba in 2007, it has applied experienced management expertise to ensure these subsidiaries are in a strong position to increase their market share and profitability.
The first major undertaking of EastPharma was to facilitate the implementation of Deva’s new growth strategy, a leading Turkish generic pharmaceuticals company. In 2006, EastPharma became Deva’s majority shareholder and installed a new management team.
EastPharma conducted a tender offer for the outstanding shares of Deva in early 2007 and, as a result, EastPharma currently holds 93.54% of Deva shares. Deva is the first institutionally controlled company in Turkey.
Deva was established in 1958 by 27 doctors with the aim of collecting individuals’ savings and directing these savings towards Turkey’s industrialisation via a pharmaceutical company. Founded on this main principle, Deva initially invested in the pharmaceutical industry with subsequent investments in other related fields, including API and empty pharmaceutical ampoule production. As a result of this diversification, the status of Deva was changed to that of a holding company in 1970. Following the subsequent growth in its operations, Deva was listed on the Turkish Registered Stock System in 1983. In 1985, Deva's paid-in capital was increased to YTL 1 billion with the participation of 6,000 shareholders, and in 1986, Deva undertook an initial public offering and listing of its shares on the Istanbul Stock Exchange.
Over its 49 years of operating history, Deva has registered a total of 368 products in terms of pharmaceutical forms ranging from antimicrobial agents to antineoplastics and antihypertensives. Of these registered products, a total of 199 are currently available in the Turkish pharmaceutical market. Gentamisin, which was one of our top selling antibiotics, was introduced in 1981 followed by the launch of Licomysin in 1988. In 1994, Deva introduced potassium clavulanate, the API used for our top selling drug Amoklavin that was ranked as the best selling pharmaceutical product in Turkey in 2004, 2005 and 2006.
1958 : Deva established by 27 doctors and pharmacists
1960 : First manufacturing facility established
1970 : Depa starts API production
1978 : Acquisition of Carlo Erba in Turkey
1991 : Çerkezköy synthesis plant
1994 : Launch of Potassium Clavulanate production
1997 : Launch of Cefuroxime Axetil production
2004 : Amoklavin ranked as best selling drug in Turkey
2006 : GEM acquires Deva to create Turkey’s first institutionally controlled company
2007 : EastPharma acquires Saba Pharmaceuticals
2007 : EastPharma lists on LSE and raises $174m through issue of GDRs
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