18 Jul 2015

Valent Pharmaceutical acquired Egyptian Pharmaceutical company Amoun

Posted Byadmin

Comments0

Valeant Pharmaceuticals plans to expand its reach in the Middle East and North Africa after reaching a deal to buy an Egyptian pharmaceutical company for about US$800 million.
The Quebec-based company said it has a definite agreement to buy Amoun Pharmaceutical from Mercury (Cayman) Holdings.
The deal includes Amoun’s manufacturing plant, which would add to Valeant’s 40 manufacturing plants around the world.
Egypt’s pharmaceutical industry is approximnately US$21 billion. This acquisition will help Valeant to have strong foothold in Egypt and other middle east countries.
Amoun has sales expected to reach about US$223 million this year. It has more than 30 branded products, including those for animal health and the treatment of hypertension, infections and diarrhea.