EarlyHealth Group, a global pharmaceutical service provider, announced the acquisition of Corena Ecza Deposu, Turkey's leading pharmaceutical distributor, in a strategic move to strengthen its position as one of the largest service providers dedicated to the life sciences sector in Turkey.
The acquisition forms part of EarlyHealth Group's comprehensive strategy to drive a $100 million portfolio of initiatives aimed at globalizing the Turkish pharmaceutical environment. This significant investment underscores the company's commitment to transforming Turkey's pharmaceutical landscape and reducing the country's dependency on pharmaceutical imports.
Strategic Partnership Builds on Two-Decade Collaboration
The acquisition formalizes a relationship that spans nearly two decades between the two companies. Mrs. Nihal Aygün, Owner of Corena, emphasized the strategic importance of the partnership, stating: "Our collaboration with EarlyHealth Group spans nearly two decades. This acquisition and strategic partnership reinforce our joint commitment to national priorities, specifically supporting Turkey's efforts to reduce pharmaceutical import dependency and positioning the country as a key contributor to the global pharmaceutical supply chain."
Under the new structure, Corena will serve as the operational and scientific hub for EarlyHealth Group's strategic initiatives across Turkey, spearheading efforts to advance ongoing bilateral cooperation in the pharmaceutical sector.
Advancing Clinical Research and Innovation
Dr. Dan A. Renout, Chief Executive Officer of EarlyHealth Group, outlined the acquisition's broader implications for Turkey's pharmaceutical sector: "By combining Corena's national expertise with our international platform, we are positioned to accelerate government-led export initiatives, strengthen academic-industry collaborations, and advance Turkey's role in clinical research and pharmaceutical innovation."
The partnership aims to enhance Turkey's capabilities in clinical research while fostering stronger connections between academic institutions and industry players. This approach aligns with national priorities to establish Turkey as a significant contributor to the global pharmaceutical supply chain.
International Recognition and Diplomatic Support
The ceremonial signing took place in Dubai, United Arab Emirates, highlighting the international significance of the partnership. The event was attended by distinguished guests including His Excellency Onur Saylan, Consul General of the Republic of Turkey, H.H. Sheikh Khalifa bin Khalid Al Hamed, member of the Abu Dhabi Royal Family, Her Excellency Dr. Annalee Babb, Ambassador of Barbados to the UAE, and Mr. Ahmed Emre Büyükkilic, Country Advisor to the Investment Office of the Presidency of the Republic of Turkey.
Consul General Saylan emphasized the broader diplomatic implications of the partnership: "This partnership exemplifies the spirit of strategic cooperation between Turkey and the United Arab Emirates. It underscores our shared commitment to advancing healthcare innovation, fostering cross-border investment, and building a platform for sustainable growth that benefits future generations."
Market Position and Future Outlook
Corena brings over 20 years of trusted service in healthcare market access and distribution to the partnership. As a leading Turkish pharmaceutical company, Corena's established network and expertise complement EarlyHealth Group's global pharmaceutical service capabilities, which include clinical research and market access support to the life sciences industry.
The acquisition positions the combined entity to capitalize on Turkey's growing importance in the global pharmaceutical sector while supporting government initiatives to enhance the country's export capabilities and reduce import dependency in the pharmaceutical sector.
