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Valeant to Acquire Leading Egyptian Pharma Firm
July 17, 2015.
Valeant Pharmaceuticals has entered into an agreement to acquire Mercury (Cayman) Holdings, the holding company of Egypt's Amoun Pharmaceutical, for approximately US$800 million, plus contingent payments.
Amoun Pharmaceutical is the largest domestic company in the Egyptian pharmaceutical market with annual growth of approximately 20%. The company operates one of the largest and most up-to-date pharmaceutical facilities in Africa and the Middle East. It produces market-leading pharmaceutical brands in the anti-hypertensive, broad spectrum antibiotic and anti-diarrheal areas.
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