• ADQ to acquire leading Turkish Pharmaceutical Contract Development and Manufacturing Organization (CDMO) of sterile solutions and injectables
• Investment expands ADQ’s life sciences capabilities in sterile injectables and wider pharmaceutical services segments, while complementing its broader commitment to Turkey
Abu Dhabi, UAE – 13, June 2022: ADQ, an Abu Dhabi-based investment and holding company, today announced it has entered into a definitive agreement to acquire Birgi Mefar Group (BMG), one of Turkey’s leading producers of sterile injectable products.
As a full-service pharmaceutical CDMO, BMG is a production service provider for sterile injectable products, namely vials and pre-filled syringes used for vaccines. BMG also produces primary packaging ampoules and vials for other sterile injectables and specializes in the growing demand for drug lyophilization. The company exports to more than 30 countries, including markets across Europe and Asia with more than 50 years of expertise and excellence.
Fahad Al Qassim, Executive Director, Healthcare & Life Sciences Portfolio at ADQ, said: “BMG's diversified offering and manufacturing capabilities make the company a strategic addition to our growing portfolio as we continue to shape the UAE’s healthcare & life sciences platform. Turkey is an important market for our investments, and BMG brings with it a strong presence throughout the pharmaceutical supply chain, from drug development and manufacturing to packaging and cold chain distribution. With this integrated capability, we believe it can enhance local expertise and build on the UAE’s ability to manufacture and distribute quality health products as the region’s leading pharmaceutical hub.”
Faik Somer, CEO at Birgi Mefar Group, said: “Joining ADQ’s portfolio is an exciting next step in our journey that will elevate our offering and enable us to scale in lucrative markets like the UAE and wider MENA region. For more than 50 years, we have been committed to quality healthcare and with ADQ’s support, we will be in a stronger position to deliver excellence in global contract development and manufacturing of sterile products that will ultimately generate long-term sustainable growth.”
This comes as part of ADQ’s efforts to build a fully integrated healthcare and life sciences platform in the UAE. It will provide ADQ exposure to a fast-growing market of injectables and high-value treatments, such as vaccines as well as access a wide customer network ranging from large multinationals to local and regional players. Moreover, the acquisition will enable BMG to join ADQ’s Healthcare and Life Science portfolio that aims to enhance manufacturing, distribution and commercialization capabilities, including the provision of sterile health products and injectable solutions.
Earlier this year, ADQ acquired Acino, a Swiss-based pharmaceutical manufacturer with presence in more than 90 countries. In 2021, ADQ acquired Pharmax, a leading pharmaceutical manufacturer in the UAE, and Amoun, one of Egypt’s leading pharmaceutical companies. ADQ also retains a minority stake in Biocon Biologics Limited, India’s largest biopharmaceutical company.
The transaction is subject to customary closing conditions, including regulatory approvals.