ADQ, one of the region's largest holding companies with a broad portfolio of large companies from all of Abu Dhabi's major and diversified economic sectors , has reached a definitive agreement to acquire Acino-based headquarters in Switzerland, a leading supplier of high-quality pharmaceuticals with a focus on high-growth markets in the Middle East, Africa, Latin America, Russia, Ukraine and the CIS region.

Acino is a leader with high-quality pharmaceutical products in novel dosage forms in more than 20 therapeutic areas, including gastroenterology, cardiology and pain relief. With its own sales staff and sales partners, Acino is active in more than 90 countries. As a trusted partner for pharmaceutical companies around the world, Acino also delivers customized solutions through contract manufacturing and out-licensing.

Fahad Al Qassim , Executive Director, Healthcare & Pharma at ADQ, commented:  “Building on a number of strategic acquisitions this year, we are creating a strong platform to leverage the UAE's position as the regional hub for pharmaceutical manufacturing, commercialization and distribution in selected areas To strengthen growth markets. Our goal for ADQ's health and pharma clusters is to ensure access to affordable and essential medicines and to drive new, innovative treatments that improve people's lives. Acino's industry experience and reach will enable ADQ to achieve even greater levels of growth, innovation and ambition across the pharmaceutical value chain. "

Steffen Saltofte, Acino CEO , said,  “Acino is committed to advancing health care development by increasing access to quality medicines that patients and governments trust and value. ADQ's engagement will accelerate this ambition. After building a solid reputation as a leader in advanced pharmaceutical solutions in emerging markets, we are excited to join the ADQ Healthcare and Pharmaceuticals portfolio with the opportunity for business transformation and commercial growth potential. "

Development of the integrated pharmaceutical platform from ADQ
With the acquisition of Acino, ADQ intends to create an integrated pharmaceutical platform in selected high-growth markets with functions for formulation development, approval, manufacturing and marketing. Earlier this year, ADQ acquired Amoun Pharmaceutical Company, a leading manufacturer, distributor and exporter of branded pharmaceutical and animal health products in Egypt, and Pharmax Pharmaceuticals, a UAE-based pharmaceutical company that manufactures and markets affordable branded generics. In addition, ADQ acquired a minority stake in India-based Biocon Biologics Limited, which specializes in the development, manufacture and marketing of high quality, affordable biosimilars in all global markets.

Acino's strong management, marketing capabilities, diverse product portfolio and licensing in many emerging markets will drive ADQ's long-term strategy to develop its integrated pharmaceutical platform and meet the need for high quality, affordable medicines in the UAE and the wider region, be of vital importance. The agreement builds on a collaborative arrangement between Acino and Pharmax to license, manufacture and distribute selected Acino products in the Middle East and Africa based on local patient needs.

The final agreement provides that ADQ will acquire 100 percent of Acino from its current shareholders, including Nordic Capital and Avista Capital Partners. The transaction is subject to customary closing conditions, including regulatory approvals.

About ADQ

ADQ was founded in Abu Dhabi in 2018 and is one of the largest holding companies in the region with direct and indirect investments in more than 90 companies locally and internationally. Both as owner and investor, ADQ's broad portfolio includes large companies from key sectors of the diversified economy, including energy and utilities, food and agriculture, healthcare and pharmaceuticals, and mobility and logistics. As a strategic partner of the Abu Dhabi government , ADQ is committed to accelerating the emirate's transformation into a globally competitive and knowledge-based economy.

For more information, visit adq.ae  or write to media@adq.ae . You can also  follow ADQ on Twitter , Instagram,  and LinkedIn .

About Acino

Acino is a Swiss pharmaceutical company with a clear focus on selected markets in the Middle East, Africa, Russia, the CIS region and Latin America. The company supplies high quality pharmaceuticals to promote affordable healthcare in these emerging markets, and leverages its high quality pharmaceutical manufacturing capabilities and network to serve leading companies through contract manufacturing and out-licensing. With a proven track record and in-depth knowledge of its markets, dedication to medicines for those who need it most, and a scientific approach to education, Acino aims to become the brand of choice for patients and healthcare professionals. For more information, please visit www.acino.swiss For further information please write to: communications@acino.swiss

 

Source:prnewswire.com

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