Novartis, one of the world’s largest pharmaceutical companies, has executed an agreement to sell one of Sandoz Turkey’s manufacturing facilities in Gebze to Generica İlaç, a Turkish company engaged in the manufacturing, marketing and sale of pharmaceutical products since 2007. The transaction includes the transfer of all associated assets and employees of Sandoz Turkey on the Gebze site. The deal is expected to close by mid-2020 subject to obtaining the necessary approvals from regulatory authorities, including the Competition Board, the Gebze Plastic Manufacturers Organized Industrial Zone and the Ministry of Industry and Technology. After closing, Generica İlaç will continue to manufacture and supply certain products to Novartis.

Paksoy is pleased to announce that Elvan Aziz (partner), Nazlı Bezirci (counsel) and Gözde Zorlu (associate) are advising Novartis on this transaction.

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