ADQ to buy Turkish pharmaceutical firm Birgi Mefar Group to strengthen portfolio

Abu Dhabi-based investment and holding company ADQ has entered into a definitive agreement to acquire Turkey’s pharmaceutical firm Birgi Mefar Group (BMG) to strengthen its healthcare and life sciences portfolio.

BMG is a production service provider for sterile injectable products, namely vials and pre-filled syringes used for vaccines. It also produces primary packaging ampoules and vials for other sterile injectables and specialises in the demand for drug lyophilization, Abu Dhabi Government Media Office reported.

The company exports to more than 30 countries, including markets across Europe and Asia.

.@Adq_Official will further advance #AbuDhabi’s position as a leading life sciences hub by acquiring Turkish pharmaceutical company Birgi Mefar Group, a leading developer of medical supplies including containers, sterile products, and syringes for administering vaccines. pic.twitter.com/yY3JmeKGtz

— مكتب أبوظبي الإعلامي (@admediaoffice) June 13, 2022

Fahad Al Qassim, executive director, healthcare and life sciences portfolio at ADQ, said: “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 healthcare and life sciences platform. Turkey is an important market for our investments, and BMG brings with it a strong presence throughout the pharmaceutical supply chain, from drug development and manufacturing to packaging and cold chain distribution.”

“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,” adds Faik Somer, CEO at Birgi Mefar Group. “For more than 50 years, we have been committed to quality healthcare 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.”

This comes as part of ADQ’s efforts to build a fully integrated healthcare and life sciences platform in the UAE, offering it exposure to a growing market of injectables and high-value treatments, as well as access a wide customer network ranging from large multinationals to local and regional players. The transaction is subject to customary closing conditions, including regulatory approvals.

Earlier this year, ADQ acquired Acino, a Swiss-based pharmaceutical manufacturer with presence in more than 90 countries. It also acquired Pharmax, a leading pharmaceutical manufacturer in the UAE, and Amoun, one of Egypt’s pharmaceutical companies.

Read: Bausch Health to sell Amoun unit to ADQ for $740m

ADQ also retains a minority stake in Biocon Biologics Limited, an India-based biopharmaceutical company.