Abu Dhabi Development Holding (ADQ) has signed a final agreement to acquire Turkey’s Birgi Mefar Group (BMG), a manufacturer of sterile injectable products, ADQ said in a press release Monday.
ADQ said, by acquiring Birgi Mefar, which exports to more than 30 countries, including European and Asian markets, is to further strengthen its health care and life sciences portfolio.
“Investment expands ADQ’s life sciences capabilities in sterile injectables and wider pharmaceutical services segments, while complementing its broader commitment to Turkey,” the press release read.
BMG is a production service provider for sterile injectable products, namely vials and prefilled syringes used for vaccines. It also produces primary packaging ampoules and vials for other sterile injectables and specializes in the growing demand for drug lyophilization.
Fahad Al Qassim, executive director at Healthcare & Life Sciences Portfolio at ADQ, said on the purchase that “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 health care & life sciences platform.”
Turkey is an important market for ADQ’s investments, he said, and that the “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,” he said.
BMG CEO Faik Somer, for his part, 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 health care 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,” he said.
The transaction of the acquisition of the Turkish company is subject to customary closing conditions, including regulatory approvals.
The move came as ADQ tries to build a fully integrated health care and life sciences platform in the Gulf country.
ADQ acquired Acino, a Swiss-based pharmaceutical manufacturer with a presence in more than 90 countries, earlier this year. In 2021, the Gulf company also 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.
Established in 2018, ADQ is an Abu Dhabi-based investment and holding company with a broad portfolio of major enterprises.
