İzmir 2nd Commercial Court of First Instance Rules Farlab Bankrupt

İzmir 2nd Commercial Court of First Instance has ruled for the bankruptcy of Farlab İlaç Özel Sağlık Hizmetleri Ticaret A.Ş., which operates in the ITOB Organized Industrial Zone in the Menderes district. The liquidation will be carried out under ordinary procedure; the company is registered at the İzmir Trade Registry Directorate under registration number 142067.

The concordat applications of Türklab Tıbbi Malzemeler Sanayi ve Ticaret A.Ş. and S.K. Teknoloji Araştırma Geliştirme A.Ş., which were part of the same case file, were also rejected by the court. The definitive extension period and protective measures applied to all three companies were lifted, and the concordat commissioner panel's mandate was terminated.

Farlab had come to public prominence during the 2020–2021 period with a Covid-19 antigen test kit developed using domestic antibodies. The company had applied to the court citing financial hardship; however, its concordat application was not accepted.

The bankruptcy ruling is a concrete reflection of the financial strain experienced in subsequent years by the domestic medical supplies sector, which grew rapidly during the pandemic. Farlab had already slowed its production during the concordat process.