Jordan group buys into UK pharma
Amman, September 8, 2013
Jordan-based Abu Sheikha Holding Group has acquired a 50 per cent stake in BR Pharmaceuticals, a UK-based firm, with global outreach in distributing pharmaceutical, nutritional and body care products.
The deal was signed by chairman of Abu Sheikha Holding Group Omar Abu Sheika and BR Pharmaceuticals managing director and founder, Philip Byrne, in the presence of senior executives.
Commenting on the deal, Abu Sheikha said: “It is expected to open horizons of international outreach for Abu Sheikha Drug Store, whose experience has matured in the local and regional market, paving the way for further expansion and achievement.
“We take into account the need to diversify our investments and network of partners, markets and targeted end users, let alone that expanding our business means more jobs for Jordanians.”
Byrne said that partnership with Abu Sheikha Drug Store is a significant stride towards expanding its distribution network in the Middle East.
BR works across the UK, Europe, Middle East and African markets, supplying and marketing health and personal care brands such as vitamins and supplements and home pregnancy tests to thousands of independent pharmacies, through wholesalers and distributors. - TradeArabia News Service