Caregen, a bio company specializing in peptides, is accelerating its global business expansion by signing a supply contract for three health functional foods with Atabay , a traditional Turkish pharmaceutical company.
Caregen announced on the 12th that it signed a supply contract with Atabay worth a total of $7.6 million for three products: Korglutide, Myoki, and ProGsterol. The contract will initially be a two-year test marketing agreement focused on hospital channels, before transitioning to a large-scale long-term supply agreement across all online and offline channels for three to five years. Through this agreement, Caregen will fully enter the Turkish market, a strategic hub connecting the Middle East and Europe.
Founded in 1939, Atabay is a leading Turkish pharmaceutical company specializing in the production and export of APIs and finished pharmaceutical products. Ranked 6th in the pharmaceutical sector on the Istanbul Chamber of Commerce (ISO)'s 2023 Top 500 list, Atabay collaborates with 40 of the 68 wholesalers nationwide, securing a distribution network that covers approximately 90% of pharmacies. It also operates a sales force that visits 15,500 pharmacies per month. Leveraging this network, Atabay is preparing to launch its Caregen products in the local market, with a target launch date of April 2026.
Turkey has a high burden of obesity and metabolic diseases. According to the International Diabetes Federation (IDF), approximately 9.6 million adults aged 20-79 will suffer from diabetes in 2024, the highest scale and prevalence in Europe. The adult obesity rate (BMI ≥ 30) is 20.2% as of 2022, and including those who are overweight, the rate reaches approximately 60%. In response, the Turkish Ministry of Health launched the "Know Your Ideal Weight and Live Healthy" campaign in 81 provinces across the country from May to July 2025, with a total of over 10.07 million participants. Caregen's peptide-based health food portfolio is attracting attention as an alternative that can simultaneously consider weight management, muscle health, and blood sugar balance within this policy environment.
Caregen CEO Jeong Yong-ji said, “The partnerships we are signing recently are with companies with high status and networks within the industry,” and “Atabai’s nationwide distribution network and sales organization will be a great help in quickly establishing our products in the market.”
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