Recently, McG Pharma, under Kürşat Şener Genç, emerged as a notable player in Turkey’s pharmaceutical landscape. A related venture, established in 2022 with minimal capitalization, drew attention for its ambitious turnover—reported at 80.2 million euros within a single year and supported by a commonly noted one-employee structure abroad.
Following these developments, Montenegro’s media highlighted the so-called unusual income phenomena linked to Genç’s business activity. A Montenegrin daily published on its site a report dated April 30, 2022, describing a setup in Podgorica tied to vehicle purchase and sale under the MC G Group Health Ltd name, which allegedly achieved significant turnover with limited staff. According to the article, the enterprise purportedly reached 80.2 million euros in turnover and 6.8 million euros in net profit, with total expenses around 72.6 million euros.
The Montenegrin report implied a broad pattern across numerous one-employee companies and noted a few generating tens of millions in revenue. In the wake of these claims, McG Pharma in Ankara underwent a notable capital increase not long after.
Public records from the Turkish Chambers and Commodity Exchanges Association (TOBB) show that McG Pharma was established in June 2017 with a capital of 10,000 Turkish Lira and later increased to 1 million Lira on 9 October 2019. After the Montenegro coverage, the company’s value reportedly rose to 10 million Turkish Lira on 20 June 2022.
McG Pharma positions itself as a company focused on rare diseases, aiming to introduce and license blood products in Turkey, with plans to eventually manufacture these products domestically. Genç’s public responses to the Montenegro coverage were cautious; he stated to journalists that he did not recognize the specific news and declined to discuss certain aspects of their drug imports into Turkey, noting that many similar firms exist and cautioning against assuming details without verifiable sources.
Be the first to comment