Daiichi Sankyo to set up its subsidiary in Turkey

The company, to be called Daiichi Sankyo Ilac Tikaret, will be headquartered in Istanbul and will initially focus on marketing the osteoporosis medication Evista (Raloxifen). The affiliate in Turkey will be strategically managed from Germany, where the European headquarters of the Japanese pharmaceutical company is located.

Over the middle term, the company intends to significantly expand its line of medications, particularly with drugs coming from the company research pipeline to treat cardiovascular diseases. In addition, the company is interested in acquiring products and signing licensing agreements.

Reinhard Bauer, CEO of Daiichi Sankyo Europe, said: “Entering the Turkish market represents a major step in the expansion of our global presence. With this decision, we are moving closer to achieving our goal of becoming one of Europe’s leading pharmaceutical companies by 2015.”