UAE Holding Company to acquire Egyptian Pharmaceuticals Amoun in a deal worth $ 740 million

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Dubai, United Arab Emirates (CNN) – UAE’s ADQ Holding Company announced the signing of a final agreement to acquire Amoun Pharmaceutical Industries (Amon) from the Canadian company, Bausch Health, in a deal valued at about $ 740 million. .

The holding company has a wide portfolio of major companies operating in key sectors within the diversified economy of the emirate of Abu Dhabi, according to a statement issued by the Abu Dhabi Government Media Office, on Wednesday.

Amoun is one of the leading Egyptian companies in the field of manufacturing, distributing and exporting branded human and veterinary medicines.

In a statement by Bausch Health Canada, the company disclosed the value of the deal, saying it was concluded with a total of approximately $ 740 million.

Fahad Al-Qassim, Director of Healthcare and Drug Administration at the “Holding” Company, said: “Our investment in Amoun Company will enhance our pharmaceutical strategy towards achieving our goal of ensuring access to vital medicines, reducing their costs and making them accessible to patients, as well as providing new and innovative medicines and treatments that help On improving the lives of community members, “according to a statement from the Abu Dhabi Government Media Office.

Al-Qassem added, “Investing in Amoun reflects our commitment to the joint investment platform with the Egyptian sovereign fund.”

For his part, Dr. Mohamed Salah El-Din Rushdie, President of Amoun Group in the Middle East, said: “Since its establishment more than 20 years ago, Amon has succeeded in consolidating its position as the largest company in the pharmaceutical industry in Egypt .. and it reaches more than 25 markets around the world. .

The Abu Dhabi government statement said that investing in “Amoun” consolidates the “Holding” long-term strategy for the health and drug sector and strengthens its capabilities to create an integrated drug system in the United Arab Emirates.

Amoun employs more than 2,500 employees and owns one of the largest modern pharmaceutical factories in Egypt.



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