Mubasher: The Abu Dhabi-based holding company, ADQ, has signed a definitive agreement to acquire Egypt's Amoun Pharmaceutical Company (Amoun) from Bausch Health Companies (Bausch Health).

The transaction will be completed through a mandatory tender offer (MTO) by ADQ to hold Amoun's total issued share capital, including the less than 1% held by minority shareholders, according to a press release on Wednesday.

Subject to customary closing conditions including regulatory approvals, the transaction is in line with ADQ’s strategy to develop a fully integrated value chain in pharmaceuticals.

Amoun, a manufacturer, distributor, and exporter of branded pharmaceutical and animal health products, owns one of the largest, state-of-the-art pharma plants in Egypt.

Commenting on the agreement, the Executive Director of Healthcare & Pharma at ADQ, Fahad Al Qassim, said: "Together with our recent pharma manufacturing investments in the UAE and India, our investment in Amoun will further enhance our pharma strategy with the ultimate aim of ensuring access to critical medicines, lowering the cost of medication for the general population and advancing new and innovative treatments that help improve people’s lives."

Meanwhile, the President of Amoun Pharmaceutical Company, Mohamed S. Roushdy, commented: "Today, we are leaders in manufacturing, marketing and distributing quality pharmaceutical products in more than 25 markets across the globe."