The UAE’s ADQ, one of the region’s largest holding companies plans to acquire Amoun Pharmaceutical Co. from Bausch Health Companies Inc. Amoun is one of Egypt’s leading manufacturers, distributors, and exporters of branded pharmaceutical and animal health products.

ADQ has been evaluating the Bausch business, Amoun, since it seeks to expand its healthcare investments. Amoun could fetch at least $700 million in a sale.

Amoun has a long-standing reputation for robust pharmaceuticals and life sciences products, addressing a wide range of acute and chronic conditions and highly prevalent diseases that demand treatment with proven high-quality medications. The company’s flagship products include Hibiotic, Antinal, Alphintern, and Neuroton. Amoun has more than 2,500 employees and owns one of the largest, state-of-the-art pharma plants in Egypt.

“ADQ aims to develop an integrated healthcare and pharma value chain through strategic investments and new ventures both locally and internationally. Together with our recent pharma manufacturing investments in the UAE and India, our investment in Amoun will further enhance our pharma strategy,” said Fahad Al Qassim, Executive Director, Healthcare & Pharma, at ADQ. “Investing in Amoun further solidifies our commitment to the joint investment platform we established with the Sovereign Fund of Egypt (SFE),” he adds.

“We believe that the credibility we have earned over the years with local and regional stakeholders, combined with ADQ’s strong emphasis on sustainable value creation will prove to be a very compelling combination,” said Dr Mohamed S. Roushdy, President of Amoun Pharmaceutical Company.