ADQ, one of the region’s largest holding companies, has entered into a definitive agreement to buy Switzerland-based pharmaceutical company Acino, marking its largest deal within the healthcare and pharmaceuticals portfolio.
The Abu Dhabi company will acquire 100 percent of Acino, a leading provider of high-quality pharmaceuticals focused on growth-leading markets across the Middle East, Africa, Latin America, Russia, Ukraine and the CIS Region, from its current shareholders, which include Nordic Capital and Avista Capital Partners. The company did not disclose the total value of the deal.
Fahad Al Qassim Executive Director Healthcare & Pharma ADQ
“Building on a series of strategic acquisitions throughout this year, we are creating a strong platform to fortify the UAE’s position as a regional hub for pharmaceutical manufacturing, commercialization and distribution in select growth-leading markets. Our aim for ADQ’s healthcare and pharma cluster is to ensure access to affordable, essential medicines and advance new, innovative treatments that help improve people’s lives. With the company’s industry experience and broad reach, Acino will enable ADQ to deliver an even greater level of growth, innovation and ambition across the pharma value chain.”
Acino is a leader in over 20 therapeutic areas including gastroenterology, cardiovascular and pain relief for high-quality pharmaceutical products in novel drug delivery forms. With its own sales force and distribution partnerships, the Switzerland-based company is active in more than 90 countries. As a trusted partner to pharmaceutical companies worldwide, Acino also supplies bespoke one-stop solutions through contract manufacturing and out-licensing.
Mr. Steffen Saltofte, CEO of Acino, said, “Acino is committed to advancing the development of healthcare by enhancing access to high-quality medicines that patients and governments can trust and value, and ADQ’s support will accelerate this ambition. Having built a solid reputation as a leading provider of advanced pharmaceutical solutions in the emerging markets, we are excited about the opportunity for business transformation and commercial growth potential as Acino joins ADQ’s healthcare and pharma portfolio.”
With the acquisition, ADQ intends to create an integrated pharma platform in select growth-leading markets with formulation development, in-licensing, manufacturing, and commercialization capabilities. The Abu Dhabi-based company has made huge investments in the sector with recent acquisitions of Egypt’s Amoun Pharmaceutical Company, UAE-based Pharmax Pharmaceuticals and Indian pharma-firm Biocon Biologics Limited.
Acino’s strong management, commercialization capabilities, diverse product portfolio and licenses across many emerging markets will be essential to ADQ’s long-term strategy of developing its integrated pharma platform and meeting the need for high-quality, affordable medicines in the UAE and the broader region.
The agreement builds on a collaboration agreement between Acino and Pharmax to license, manufacture, and supply select Acino products across the Middle East and Africa, based on the local needs of patients.
The definitive agreement is for ADQ to acquire 100 percent of Acino from its current shareholders, which include Nordic Capital and Avista Capital Partners. The transaction is subject to customary closing conditions, including regulatory approvals.
Thank you very much for choosing GCC Business News to be an important part of your professional life. You will receive a confirmation e-mail. Please check SPAM or UPDATES folder
