Interglobe IEG and TURK Ilac join forces to invest in pharmaceutical production in Africa

Following the 3rd Africa-Turkey Summit held in Istanbul in December 2021, TURK Ilac, a leading Turkish company in the production of medicines and vaccines, has put in place a joint action plan with Interglobe IEG to build seven integrated production plants 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 pharmaceutical products, including vaccines and serums.

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

Main supplier of the national vaccine immunization program, TURK Ilaç now intends to bring its experience, expertise and know-how to Africa to contribute to the emergence of an 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 also of the global economy as a whole”said Mehmet Berat BattalPresident of TURK Ilaç.

TURK Ilaç also plans to strengthen and expand its footprint in a single trading bloc to create unique and shared value for its investors and the African continent. In addition to the investments of Turkish medicine in the pharmaceutical sector in Africa, encouraging steps have been taken in the field of the production of sub-industries, an indispensable branch of the field. By calling on all the industrial capacities of the companies of the TURK Ilaç group, which depend on BATTAL Holding in its country, it has succeeded in carrying out integrated productions at low cost, without compromising on quality.

TURK Ilaç, which has a solid financial structure, said that the company would not hesitate to take action in this regard and was happy to be supported both by the authorities of the countries in which the investments will be made, by Afrexim and other related funds. Following the meetings held with the competent authorities of the countries where the investment will be made, TURK Ilaç received very good feedback on the purchase guarantee and the allocation of spaces in order to encourage local production.

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

● Investment in the pharmaceutical sector in Africa, in order to guarantee the health and well-being of all;

● Transfer of advanced technologies and best practices in Africa;

● The promotion of women’s employment;

● Research and development.

This plan is in line with the 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 facilitating technology transfer in Africa.

When signing the action plan, the executive chairman of the Interglobe IEG group, Bunmi Jinadusaid : “It is quite worrying that trade between African countries represents 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 essential 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 runs and blocks around the world. In addition, the slowdown in the production of medicines and the increase in prices have had a global impact on the supply of pharmaceutical products, in particular for Africa, an importer of medical and pharmaceutical products.

About TURK İlaç:

TURK Pharmaceuticals and Serum Industry Inc. started its activities in 2010 within BATTAL Holding. The main area of ​​activity of TURK Ilac is the production of medicines and vaccines. The company recently established the first and only vaccine production facility in Turkey as a private enterprise. The production facilities of TURK Ilac ve Serum Sanayi A.Ş., Akyurt region of Ankara, has a total area of ​​56,000 square meters to date. The factories are equipped with the most advanced technologies and all production equipment has been designed in accordance with international standards. All productions are carried out in accordance with the current principles of Good Manufacturing Practices (GMP) and Good Laboratory Practices (GLP). TURK Pharmaceuticals and Serum Industry Inc. conducts its activities 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, which helps international companies and institutions understand how to better establish themselves in Africa. Since 1990, its team of economic development strategists and professionals from different fields (banking, insurance, agriculture, supply chain, manufacturing, etc.) has accompanied various business initiatives with the aim of establishing a strategy on the how to attract direct investment through the economic development of sub-Saharan Africa. Interglobe IEG’s goal is to ensure that these companies properly align their values ​​and resources to ensure sustainable development of the African continent. Interglobe IEG has a strong partnership with the African Continental Free Trade Area (ZLECAF) to support the sustainable development of Africa.

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May 13, 2022 by Writing

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Interglobe IEG and TURK Ilac join forces to invest in pharmaceutical production in Africa


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