Health
Abu Dhabi Focuses on M&A and Consolidates Pharma Assets

One of the largest life sciences companies in the region, with operations on four continents, is being formed by Abu Dhabi sovereign wealth fund ADQ through the consolidation of some of its pharmaceutical assets.
Turkish company Birgi Mefar Group, Swiss company Acino International, and Egyptian company Amoun Pharmaceutical Co. will all be part of the new organization. There will be more than 6,500 employees working for the holding company, Arcera, in 90 countries.
According to an ADQ statement, Arcera wants to acquire and form partnerships to double its revenue over the next five years. Today, the company sells 2,000 branded medications, and its production and packaging sites are located in Egypt, South Africa, Turkey, Estonia, Switzerland, the United Arab Emirates, and Ukraine.
According to earlier reports from Bloomberg, ADQ was thinking about doing this and eventually intended to list the new company. That would be similar to how PureHealth, the biggest healthcare provider in the United Arab Emirates, was established through the merger of multiple businesses. In December, the company went public with a $1 billion listing, and it saw an 84% increase in value.
After the Abu Dhabi Investment Authority and Mubadala Investment Co., ADQ is the third-largest sovereign wealth fund in Abu Dhabi, with an estimated $200 billion in assets.
Saudi Arabia, a neighbor, has also gained ground in the pharmaceutical industry. To entice biotech and pharmaceutical companies to invest in drug manufacturing, the Public Investment Fund established a new organization last year.
-
Tech3 weeks ago
Adoption of Technology Is Becoming Increasingly Important to Small Business Strategies
-
Business4 weeks ago
Gonzalo Lopez Jordan: How Immigration Policies Impact Business Hiring Practices
-
Food1 week ago
Sustainable Packaging Solutions: Rocco DeLorenzo Discusses How Food Science is Reducing Environmental Impact
-
Startup1 week ago
Roy Gagaza: Key Tax Planning Tips for Small Business Owners
-
Lifestyle4 weeks ago
Douglas Siemonsma’s Insights on Military Logistics
-
Business3 days ago
TikTok Launches Automotive Ads for Auto Brands and Car Dealerships to Boost Car Sales
-
Business3 weeks ago
Low-cost Advertising Strategies Entrepreneurs Can Use to Market Your Business
-
Business2 weeks ago
Pittsburgh Popcorn Company’s Tips for Boosting Community Impact Through Effective Fundraising Programs