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TunisiaEgypt: European Bank for Reconstruction and Development and partners create new platform to invest in pharmaceuticals
The European Bank for Reconstruction and Development (EBRD) is joining forces with reputable partners to improve the availability and affordability of medicines, using an investment platform with an initial capital commitment of US$ 250 million.
The EBRD is supporting the platform’s growth in Egypt, alongside Development Partners International(DPI), a pan-African private equity firm, and CDC Group, a development finance institution funded by the UK government.
As a first step for the investment platform the partners have acquired Adwia Pharmaceuticals, an Egyptian manufacturer of generic drugs, and Celon Laboratories, an Indian oncology and critical-care product specialist.
The founding shareholders plan to increase their impact by further expanding the investment platform’s activities.
Egypt is a founding member of the EBRD. Since the start of the Bank’s operations there in 2012, the EBRD has invested over €7 billion in 125 projects in the country.
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Countries covered:
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Egypt
