Abu Dhabi fund to buy leading Turkish pharmaceuticals company
Abu Dhabi state holding firm ADQ is buying Birgi Mefar Group (BMG), one of Turkey’s leading producers of sterile injectable products.
Duvar English
ADQ, Abu Dhabi’s state investment vehicle, announced on June 13 that it signed an agreement to acquire Birgi Mefar Group (BMG), one of Turkey’s leading producers of sterile injectable products.
The announcement was made on ADQ's Twitter account. "To further shape the UAE’s healthcare & life sciences platform, we have entered into a definitive agreement to acquire Birgi Mefar Group (BMG), one of Turkey’s leading pharmaceutical and medical equipment manufacturing and distribution companies," the post read.
BMG is a production service provider for sterile injectable products, namely vials and pre-filled syringes used for vaccines. The company also produces primary packaging ampoules and vials for other sterile injectables and specializes in the growing demand for drug lyophilization.
The United Arab Emirates and Turkey have been at odds over a variety of regional issues in recent years, but they are now in the process of restoring their relations.
The reconciliation gained momentum last year when Turkish President Recep Tayyip Erdoğan hosted a senior Emirati security official. Erdoğan then visited the UAE in February, during which several agreements were signed in various fields.