Stock ADQ1
This deal is in line with ADQ’s long-term strategy of developing its integrated pharma platform and meeting the need for high-quality, affordable medicines in the UAE Image Credit: Supplied

Dubai: Abu Dhabi fund ADQ has entered a definitive agreement to acquire Swiss pharmaceutical company Acino. This marks ADQ’s largest deal yet in the healthcare and pharmaceuticals portfolio.

ADQ will acquire 100 per cent of Acino from its current stakeholders, which include Nordic Capital and Avista Capital Partners. With this acquisition, the Abu Dhabi fund intends to create an integrated pharma platform with formulation development, in-licensing, manufacturing capabilities in key 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,” said Fahad Al Qassim, Executive Director, Healthcare & Pharma at ADQ. “Acino will enable ADQ to deliver an even greater level of growth, innovation and ambition across the pharma value chain.”

“Acino is committed to advancing the development of healthcare by enhancing access to high-quality medicines and ADQ’s support will accelerate this ambition,” said Steffen Saltofte, CEO of Acino “

The agreement builds on a deal 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. Earlier this year, ADQ acquired Amoun Pharmaceutical Company, one of Egypt’s leading manufacturers and exporters of branded pharmaceutical and animal health products, and Pharmax Pharmaceuticals, a UAE company that manufactures and markets affordable medications.

ADQ also purchased a minority stake in India-based Biocon Biologics Limited, which specialises in developing, manufacturing and marketing high-quality, affordable biosimilars across global markets.