{"id":321719,"date":"2021-04-01T10:16:25","date_gmt":"2021-04-01T10:16:25","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=321719"},"modified":"2021-04-01T10:16:25","modified_gmt":"2021-04-01T10:16:25","slug":"drugmaker-bausch-to-sell-stake-in-egypts-amoun-pharma-to-adq-for-740-mln","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/04\/01\/drugmaker-bausch-to-sell-stake-in-egypts-amoun-pharma-to-adq-for-740-mln\/","title":{"rendered":"Drugmaker Bausch to sell stake in Egypt’s Amoun Pharma to ADQ for $740 mln"},"content":{"rendered":"

Canadian drugmaker Bausch Health Companies Inc announced on Wednesday that it would sell all its stake in Egypt\u2019s Amoun Pharmaceutical Co to Abu Dhabi-based ADQ for around $740 million.<\/p>\n

The move came as part of Bausch\u2019s plans to pare down its debt.<\/p>\n

The company has been shedding non-core assets to pay down debt. The sale, which Bausch expects to complete in the first half of 2021, comes ahead of a planned separation of the company\u2019s eye care unit Bausch + Lomb.<\/p>\n

Amoun makes branded generic drugs for human and animal health.<\/p>\n

Goldman Sachs & Co LLC and Morgan Stanley & Co LLC acted as financial advisors to Bausch for the transaction.<\/p>\n

\u201cThe sale of Amoun marks significant progress in our efforts to reduce overall Bausch Health debt as we continue to pursue all opportunities to drive value for our shareholders, including preparing for the spinoff of Bausch & Lomb,\u201d Bausch\u2019s chief executive Joseph C. Papa said in a statement.<\/p>\n

In a note Bausch published Wednesday before the sale announcement, Bloomberg Intelligence analyst Ann-Hunter van Kirk said the solo Bausch & Lomb could be worth $20 billion to $30 billion, considerably more than Bausch Health\u2019s market capitalisation of around $11 billion.<\/p>\n

\u201cAn independent Bausch & Lomb unit could have more room and focus to expand its global market share, but leverage reduction may still be a priority after its spinoff,\u201d Kirk added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Canadian drugmaker Bausch Health Companies Inc announced on Wednesday that it would sell all its stake in Egypt\u2019s Amoun Pharmaceutical Co to Abu Dhabi-based ADQ for around $740 million.<\/p>\n","protected":false},"author":4,"featured_media":321720,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[321],"class_list":["post-321719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bausch"],"yoast_head":"\nDrugmaker Bausch to sell stake in Egypt's Amoun Pharma to ADQ for $740 mln - egy-africa<\/title>\n<meta name=\"description\" content=\"Canadian drugmaker Bausch Health Companies Inc announced on Wednesday that it would sell all its stake in Egypt\u2019s Amoun Pharmaceutical Co to Abu Dhabi-based ADQ for around $740 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/04\/01\/drugmaker-bausch-to-sell-stake-in-egypts-amoun-pharma-to-adq-for-740-mln\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Drugmaker Bausch to sell stake in Egypt's Amoun Pharma to ADQ for $740 mln - 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