Bausch Health to Sell Amoun Unit to ADQ for $740 Million
- Debt-reduction move comes ahead of Bausch & Lomb spinoff
- Wealth fund ADQ furthers Abu Dhabi’s economic diversification
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Bausch Health Cos. is selling its Egyptian drug unit to Abu Dhabi sovereign wealth fund ADQ for $740 million, part of the Canadian company’s effort to pare down debt.
The sale of Amoun Pharmaceutical Co., a leading domestic drugmaker in Egypt, comes ahead of the planned separation of the company’s Bausch & Lomb eye-care division. The sale to ADQ is expected to close in the first half of 2021, Bausch said in a statement Wednesday.