UAE – ADQ, one of UAE’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.
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.
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.
With the Acino acquisition, ADQ intends to create an integrated pharma platform in select growth-leading markets with formulation development, in-licensing, manufacturing, and commercialization capabilities.
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.”
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.
“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,” Fahad Al Qassim, executive director, Healthcare & Pharma at ADQ, said.