Acino, a pharmaceutical company, will be acquired by ADQ
16 September 2021
ADQ, a holding company with a diverse portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, has agreed to acquire Swiss-based Acino, a provider of high-quality pharmaceuticals focused on growth-leading markets in the Middle East, Africa, Latin America, Russia, Ukraine, and the CIS Region.
“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 company manufacturing, commercialization, and distribution in select growth-leading markets,” said Fahad Al Qassim, executive director, Healthcare & Pharma at ADQ. “Our aim for ADQ’s healthcare and pharma cluster is to ensure access to affordable, essential medicines and advance new, innovative treatments.
“Acino is committed to advancing healthcare development by increasing access to high-quality medicines that patients and governments can trust and value, and ADQ’s support will accelerate this ambition,” said Steffen Saltofte, CEO of Acino. “Having built a solid reputation as a leading provider of advanced pharmaceutical company solutions in emerging markets, we are excited about the opportunity for business transformation and commercial growth potential as Acino joins.
With the acquisition of Acino, ADQ wants to build a comprehensive pharmaceutical company platform with formulation research, in-licensing, manufacturing, and commercialization capabilities in select growth-leading markets.
Acino’s strong management, commercialization capabilities, wide product portfolio, and licensing in many emerging markets will be critical to ADQ’s long-term plan of building its integrated pharma platform and answering the need for high-quality, inexpensive medications in the UAE and the region. The partnership expands on Acino and Pharmax’s collaboration agreement to license, manufacture, and supply specific Acino products across the Middle East and Africa based on patient needs.
The definitive deal calls for ADQ to buy out all of Acino’s current shareholders, Nordic Capital and Avista Capital Partners. The deal is subject to the usual closing conditions, which include regulatory clearances.
