Abu Dhabi’s ADQ acquires Turkish pharma producer to boost UAE’s ability to manufacture health products
Turkey’s BMG, which specialises in freeze drying, is a production service provider for sterile injectable products, including vials and pre-filled syringes used for vaccines
Abu Dhabi investment company ADQ is buying Birgi Mefar Group (BMG), one of Turkey’s leading producers of sterile injectable products.
It has entered into a definitive agreement to acquire BMG, described as a full-service pharmaceutical contract development and manufacturing organisation (CDMO).
BMG is a production service provider for sterile injectable products, namely vials and pre-filled syringes used for vaccines. The company also specialises in the growing demand for drug lyophilisation, also known as freeze drying.
BMG exports to more than 30 countries, including markets across Europe and Asia, with more than 50 years of expertise and excellence.
Executive Director, Healthcare & Life Sciences Portfolio at ADQ, Fahad Al Qassim, 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 & 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.”
Fahad Al Qassim, Executive Director, Healthcare & Life Sciences Portfolio at ADQ
The acquisition is expected to boost the UAE’s ability to manufacture and distribute quality health products as the region’s leading pharmaceutical hub.
CEO at Birgi Mefar Group, Faik Somer, added: “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.”
ADQ was established in 2018 as an Abu Dhabi-based investment and holding company. It has a broad portfolio of investments spanning key sectors of the UAE’s diversified economy including energy and utilities, food and agriculture, healthcare and life sciences, and mobility and logistics.
It is committed to accelerating the transformation of the Emirate into a globally competitive and knowledge-based economy.
Source: Arabian Business