Abu Dhabi Developmental Holding Company Buys Acino from Avista Capital Partners and Nordic Capital
Posted on 09/17/2021
Abu Dhabi Developmental Holding Company PJSC (ADQ) signed a deal to acquire Acino International AG, a Swiss pharmaceutical company headquartered in Zurich with a global platform that promotes affordable healthcare in key emerging markets through contract manufacturing and out-licensing. The sellers are Avista Capital Partners and Nordic Capital (through Nordic Capital CV1). The financial terms of the transaction were not disclosed. It is subject to customary closing conditions, including regulatory approvals.
In partnership, Avista Capital and Nordic Capital acquired Acino in 2013 via a take-private transaction from the Swiss stock exchange. Since the 2013 investment, Acino has executed a number of strategically-important acquisitions, including PharmaStart (Ukraine), Litha Healthcare (South Africa), and the acquisition of a portfolio of select over-the-counter (OTC) and prescription pharmaceutical assets from Takeda Pharmaceuticals, which expanded Acino’s global footprint and addressable therapeutic areas.
Fahad Al Qassim, Executive Director, Healthcare & Pharma at ADQ, commented in a press release. “We are creating a strong platform to fortify the UAE’s position as a regional hub for pharmaceutical manufacturing, commercialisation and distribution in select growth-leading markets. Our aim for ADQ’s healthcare and pharma cluster is to ensure access to affordable, essential medicines and advance new, innovative treatments that help improve people’s lives. We thank Avista Capital and Nordic Capital for their collaboration and contributions to Acino’s success. We look forward to working with Acino’s leadership team to deliver an even greater level of growth, innovation and ambition across ADQ’s pharma value chain.”
