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Sep 16, 2021
ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, has entered into a definitive agreement to acquire Swiss-based 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.
Acino is a leader in more than 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, Acino 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.
Fahad Al Qassim, Executive Director, Healthcare & 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. 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.”
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.”
Building ADQ’s Integrated Pharma Platform
With the Acino acquisition, ADQ intends to create an integrated pharma platform in select growth-leading markets with formulation development, in-licensing, manufacturing, and commercialisation capabilities. Earlier this year, ADQ acquired Amoun Pharmaceutical Company, one of Egypt’s leading manufacturers, distributors and exporters of branded pharmaceutical and animal health products, and Pharmax Pharmaceuticals, a UAE-based pharmaceutical company which manufactures and markets affordable, branded generic medications. Additionally, ADQ purchased a minority stake in India-based Biocon Biologics Limited, which specialises in developing, manufacturing and marketing high-quality, affordable biosimilars across global markets.
Acino’s strong management, commercialisation 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 per cent 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.
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