Abu Dhabi’s ADQ has entered into a definitive agreement to acquire Turkish pharmaceutical company Birgi Mefar Group (BMG), Zawya reports.
The Abu Dhabi Media Office broke the news on Monday but did not disclose details on the potential acquisition.
The deal will be a strategic addition to the UAE sovereign wealth fund’s healthcare & life sciences platform, the office said in a statement. The Turkish company makes sterile injectable products, namely vials and pre-filled syringes used for vaccines. It exports to more than 30 countries, including markets across Europe and Asia.
ADQ, Abu Dhabi’s third-largest sovereign wealth fund, early this month acquired Acino, a Swiss-based pharmaceutical manufacturer. The fund also in 2021 landed Pharmax, a leading pharmaceutical manufacturer in the UAE, and Amount in Egypt. ADQ also retains a minority stake in Biocon Biologics Limited, India’s largest bio-pharmaceutical company.
Abu Dhabi ADQ in advanced talks to acquire Turkish pharma company Birgi Mefar
