ADQ has entered into a definitive agreement to acquire Acino, 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, from healthcare investors Avista Capital Partners and Nordic Capital.
Thompson Dean, co-CEO and managing partner of Avista Capital, said, “We are incredibly proud that our partnership with Acino strengthened its business and expanded its client base, capabilities, and geographic footprint. During the period of our investment, Acino brought to market many innovative products that are making a real difference in the lives of patients in emerging markets around the world. We know Steffen Saltofte and his team are well-positioned to capture the significant opportunities in front of them, and we wish Acino the best as they embark on this next chapter with ADQ.”
Thomas Vetander, partner, Nordic Capital Advisors, said, “During the ownership period, Acino executed on key growth initiatives and made significant investments to drive both organic and acquisitive growth. This includes the acquisition of Takeda’s primary care portfolio in key emerging markets, which has positioned Acino for the next phase of its development. We thank the Acino team for their dedication during these years. It’s now time for the Company to take the next step forward together with ADQ to aim for even further growth and expansion.”
Steffen Saltofte, CEO of Acino, concluded, “On behalf of the entire Acino team, I would like to thank Avista Capital and Nordic Capital for their partnership and invaluable contributions to our company. As owners, they have been instrumental in supporting us and fully focused on seizing the opportunities available to Acino. We look forward to building on our momentum and continuing our strong growth with our new partners at ADQ.”
Fahad Al Qassim, executive director, Healthcare & Pharma at ADQ, commented, “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.”