UAE – Swiss pharmaceutical company Acino has expanded its market presence in the Middle East after completing its acquisition of Abu Dhabi’s ADQ-owned Pharmax Pharmaceuticals.

The successful combination of Acino and Pharmax, a manufacturer and distributor of high-quality branded generic medications lays the foundation for a market leader in the pharma industry.

“The integration of Pharmax Pharmaceuticals into Acino will accelerate our efforts towards becoming a leading provider of high-quality pharmaceuticals in the Middle East and beyond,” Sunil Bhilotra, Managing Director and interim Chief Executive Officer of Acino said in a release.

Following the completion of the acquisition, Pharmax’s pharmaceutical business and the team responsible for scaling its business operations are now part of Acino.

Acino, which is owned by ADQ, an Abu Dhabi-based investment and holding company, will add over 100 employees and take operational control of Pharmax’s manufacturing site in Dubai Science Park.

Pharmax’s manufacturing site has been issued a certificate of good manufacturing practice (GMP) compliance by the European Union (EU) and the Gulf Cooperation Council (GCC) region.

The state-of-the-art plant is well-equipped to manufacture various dosage forms, including tablets, capsules, inhalers, injectables, and topicals.

Furthermore, Dubai’s technological advancements, R&D capacities, modern infrastructure, proximity to emerging markets, and favourable policy framework present investors with a unique opportunity to enhance domestic manufacturing capabilities.

With the integration of Pharmax, Acino will strengthen its robust commercial performance in the pharma industry while positioning it to propel in the rapidly expanding pharmaceutical market in the UAE.

The combined company will be able to leverage synergies across main therapeutic areas and share best practices while advancing product development capabilities.

The combination of scale, competencies, financial strengths, and experiences in the health industry will enable Acino to contribute to the UAE’s efforts of becoming a leading pharmaceutical hub.

Additionally, the successful acquisition will support Acino in complementing its operational capabilities and expanding its growing international footprint.

“The merger will advance our ability to distribute high-quality medicines to markets across the globe and achieve even greater levels of growth and innovation across the pharma value chain,” added Sunil Bhilotra.

For all the latest healthcare industry news from Africa and the World, subscribe to our NEWSLETTER, and YouTube Channel, follow us on Twitter and LinkedIn, and like us on Facebook.