The Holding Company acquires "Pharmax Pharmaceuticals" and invests in "Biocon Biology"
The Holding's investment in Biocon is an important step for developing expertise in biosimilars.
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The Holding Company (ADQ), one of the largest holding companies in the region, which owns a wide portfolio of major companies operating in key sectors within the economy of the Emirate of Abu Dhabi, announced two strategic investment operations that would contribute to expanding the portfolio of its companies in the health and drug sector in a way. Large.
The Holding Company acquired the "Pharmax Pharmaceuticals" (FZC - LLC), which is based in the United Arab Emirates and specializes in manufacturing and marketing low-cost generic drugs with a registered trademark.
The "Holding" also agreed to invest in "Biocon Biologics Ltd.", a subsidiary of "Biocon Ltd.", which specializes in developing, manufacturing and marketing of biosimilar drugs that are of high quality and low cost in the global markets.
By investing in Pharmax Pharmaceuticals, the Holding Company continues to expand its health and drug companies ’portfolio, by filling a gap related to the availability of low-cost medicines and building an effective health care system in the UAE that achieves a balance between cost and quality.
At the same time, the Holding's investment in Biocon represents an important step towards developing the necessary expertise in the field of innovative biosimilars aimed at treating a number of chronic diseases, such as diabetes, tumors and immunology.
After completing these strategic investments, the Holding Company will acquire investments across the value chain in the health and medicine sector, by providing health care to patients through the facilities of the Abu Dhabi Health Services Company (SEHA), which recorded nine million patient visits last year, and its services. Laboratory examinations through "Union 71", and insurance coverage through the National Health Insurance Company (Daman).
The broad portfolio of the Holding extends to the pharmaceutical sector, its transportation and handling of all its logistical operations through its ownership of Rafid, Abu Dhabi Ports, and Abu Dhabi Airports Company, as well as its investment in Aramex.
The CEO of the Holding Company, Mohamed Hassan Al-Suwaidi, said, “Our ambition for the portfolio of our health and drug companies in the long term is to achieve growth for a digitally advanced system that focuses on meeting the needs of this sector, which is based on a number of factors that are represented in providing a world-class level. From excellence, effective management of health services to community members, and resilient supply chain infrastructure.
In addition to the value that this adds to the shareholder in the (Holding), it also has a positive economic and social impact by providing better health services.
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