DI announces divestment of 66% equity stake in Globalpharma

Dubai Investments PJSC (DI), an investment company listed on the Dubai Financial Market (DFM), has announced the divestment of 66 percent equity stake in its pharmaceutical subsidiary Globalpharma Co. LLC.
The group will continue to hold 34 percent equity in Globalpharma. This transaction yielded a healthy IRR of 26 percent over a 10-year period for DI.
DI has divested 66 percent to the investor group led by Sanofi, a health care company headquartered in France. Pursuant to the agreements entered into between DI and the investor group, Globalpharma will be managed as a Sanofi company and will become the platform to manufacture and promote the generics portfolio of Sanofi in the Middle East markets.
“Our investment in Globalpharma was well timed as we capitalized on the rapid growth in the pharmaceutical sector in the region. With the direction and support of DI, the management executed a successful strategy, which has attracted a lot of strategic interest. This created the opportunity for our successful sell-down,” said Khalid bin Kalban, MD and CEO of Dubai Investments.
“We believe that the new partnership being forged with Sanofi will propel Globalpharma to the next level of its growth,” added Kalban.
DI commercialized Globalpharma in 2003 and grew the company to become a market leader in certain therapies.
Globalpharma is currently registered in more than 14 countries across the GCC, Middle East and neighboring markets.
Globalpharma manufactures pharmaceutical products under CGMP conditions, including antibiotics, cardiovascular, anti-ulcerants, painkillers, food supplements, vitamins, anti-diabetics, respiratory products and anti-allergic formulations.
Globalpharma has achieved healthy double-digit growth year-on-year since 2010.
DI’s divestment and agreement with Sanofi is first-of-its-kind in the Middle East generics market that combines Sanofi’s strong heritage of international quality treatments with a local trusted partner in generics medications — Globalpharma — to reach more patients with affordable medications.