Home » News » Drug Sponsors » Valeant Pharmaceuticals to acquire Amoun Pharmaceutical

Valeant Pharmaceuticals to acquire Amoun Pharmaceutical

Wednesday, July 22, 2015

Valeant Pharmaceuticals International has entered into a definitive agreement to acquire Mercury (Cayman) Holdings, the holding company of Amoun Pharmaceutical, for approximately $800 million, plus contingent payments.

Amoun Pharmaceutical is a domestic company in the Egyptian pharmaceutical market and currently expects to reach $220 million by 2015, with annual growth of approximately 20%. Amoun operates a large, state-of-the-art manufacturing plant and has pharmaceutical brands in therapeutic areas such as anti-hypertensives, broad spectrum antibiotics and anti-diarrheals.    

Valeant intends for Amoun to serve as a platform for further expansion in the broader Middle East and North Africa pharmaceutical market and expects the transaction to close in the third quarter, subject to customary closing conditions.

Related Posts