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.
