Sanofi Takes Stake in Middle Eastern Pharma Company GlobalpharmaBy
Dubai Investments PJSC (DI), an investment company, has divested a 66% stake in its pharmaceutical subsidiary Globalpharma Co. LLC to Sanofi. DI will continue to hold a 34% equity stake in Globalpharma.
Globalpharma will be managed as a Sanofi company and will become the platform to manufacture and promote the generics portfolio of Sanofi in Middle Eastern markets.
DI commercialized Globalpharma in 2003. It currently has products registered in more than 14 countries across the countries of the Gulf Cooperation Council, Middle East, and neighboring markets. Globalpharma manufactures pharmaceutical products, antibiotics, cardiovascular, anti-ulcerants, painkillers, food supplements, vitamins, anti-diabetics, respiratory products, and anti-allergic formulations.
Source: Dubai Investments PJSC