Abu Dhabi – Mubasher: ADQ has signed a definitive agreement to acquire Switzerland-based pharmaceutical company Acino, a provider of pharmaceuticals focused on growth-leading markets across the Middle East, Africa, Latin America, Russia, Ukraine and the Commonwealth of Independent States (CIS) region.
Under the transaction, the Abu Dhabi-based holding company will acquire 100% of Acino from its current shareholders, which include Nordic Capital and Avista Capital Partners, according to a statement on Thursday.
The Zurich-based pharmaceutical firm is active in more than 90 countries.
The deal, subject to customary closing conditions, will be ADQ's largest acquisition in the healthcare and pharma portfolio to date.
Fahad Al Qassim, Executive Director, Healthcare, and Pharma at ADQ, commented: "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, commercialisation, and distribution in select growth-leading markets."
"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," Al Qassim pointed out.
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."
Earlier in 2021, ADQ acquired Egypt's Amoun Pharmaceutical Company and UAE's Pharmax Pharmaceuticals, along with purchasing a minority stake in India-based Biocon Biologics Limited.
