Valeant reportedly in acquisition talks with big Egyptian pharma
- Valeant is reportedly in talks to acquire the Egyptian pharma company Amoun. If completed, the acquisition would be one of the largest acquisitions of a pharma company in the Middle East.
- The sale could value Amoun in the $700 to $800 million range.
- Amoun is using Goldman Sachs as an advisor, according to Bloomberg, but the talks themselves are private and participants are currently not commenting directly.
According to IMS, the pharmaceutical market in the Middle East is growing rapidly, with anticipated growth from $16 billion in 2013, to $26 billion by 2017. This translates into a 12% to 14% growth rate, which far outpaces the 2% to 5% growth rate in the U.S. and Europe (albeit from a much smaller starting point).
Amoun is actively seeking a buyer, and if that fails, the company may end up going public. Amoun has a solid portfolio of veterinary and human medicines, as well as private-equity shareholders, inlcuding Capital Group, Concord International Investments, and the Rohatyn Group.