Drugmaker Abdi Ibrahim in Talks on Minority Stake Sale

By Ercan Ersoy – May 18, 2011 10:30 AM GMT+0200

(Corrects 2010 sales in third paragraph.)

Abdi Ibrahim Ilac Sanayi & Ticaret AS, Turkey’s biggest generic drugmaker, said it’s in talks with foreign companies on the possible sale of a minority stake.

The company’s owners don’t plan to sell a majority, Chief Executive Candan Karabagli said today in Istanbul. Foreign interest is holding up despite government cuts to drug prices, she said.

Abdi Ibrahim aims to raise sales this year to $850 million from $834 million in 2010, she said.

To contact the reporter on this story: Ercan Ersoy in Istanbul at [email protected]

To contact the editor responsible for this story: Steve Bryant at [email protected]

via Drugmaker Abdi Ibrahim in Talks on Minority Stake Sale – Bloomberg.