Mubadala Investment Company, Abu Dhabi’s strategic investment arm, has become a significant investor in PCI Pharma Services as part of a deal in which private equity firm Kohlberg & Co has taken a majority stake.
PCI Pharma Services, a pharmaceutical outsourcing business, was bought from Swiss private equity firm Partners Group for an undisclosed sum.
“Outsourced pharmaceutical services has been a key investment theme for us over the past few years, and we are excited to be partnering with one of the global leaders in this industry,” Camilla Macapili Languille, head of pharma and medtech at Mubadala, said.
Outsourced pharmaceutical services has been a key investment theme for us over the past few years
“We have been particularly impressed by the quality and depth of PCI’s management team, as well as the company’s strong execution track record, impeccable values, and distinct vision for the long-term development of their business. We have strong conviction in the company’s growth trajectory.”
Mubadala, which invests on behalf of Abu Dhabi government entities, has increased its investment in medtech, life sciences and artificial intelligence in recent years. In July, it invested $18 million (Dh66.1m) in Owkin, a French healthcare technology company, through its €400m (Dh1.65 billion) European venture capital fund.
PCI Pharma Services is based in Philadelphia and serves the pharmaceutical supply chain from the earliest stages of drug development through to commercial launch and delivering ongoing supply. It also has global capabilities for drug development and manufacturing, clinical trials and commercial packaging services.
The company operates 25 facilities in six countries and employs around 3,900 people worldwide.
Kohlberg and Mubadala plan to expand PCI's capabilities and geographies, improve its customer service experience and enable its customers to bring life-saving biopharmaceutical therapies to market.
Partners Group will retain a minority equity stake in PCI Pharma Services following the sale. It took a majority stake in the company in 2016 and said in a separate statement that earnings had grown at a compound annual rate of 15.6 per cent under its ownership.
“Though the last few months have been immensely challenging, the Covid-19 pandemic has demonstrated the essential nature of services that PCI provides to the pharmaceutical and biotech industry. On more than one occasion, PCI was the critical link in the supply chain responsible for ensuring life-saving medicine reached those in need,” said Remy Hauser, managing director and head of healthcare at Partners Group.
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
UAE currency: the story behind the money in your pockets
The specs: Lamborghini Aventador SVJ
Price, base: Dh1,731,672
Engine: 6.5-litre V12
Gearbox: Seven-speed automatic
Power: 770hp @ 8,500rpm
Torque: 720Nm @ 6,750rpm
Fuel economy: 19.6L / 100km
If you go:
Getting there:
Flying to Guyana requires first reaching New York with either Emirates or Etihad, then connecting with JetBlue or Caribbean Air at JFK airport. Prices start from around Dh7,000.
Getting around:
Wildlife Worldwide offers a range of Guyana itineraries, such as its small group tour, the 15-day ‘Ultimate Guyana Nature Experience’ which features Georgetown, the Iwokrama Rainforest (one of the world’s four remaining pristine tropical rainforests left in the world), the Amerindian village of Surama and the Rupununi Savannah, known for its giant anteaters and river otters; wildlifeworldwide.com
UAE currency: the story behind the money in your pockets
First Person
Richard Flanagan
Chatto & Windus
The biog
Hobby: "It is not really a hobby but I am very curious person. I love reading and spend hours on research."
Favourite author: Malcom Gladwell
Favourite travel destination: "Antigua in the Caribbean because I have emotional attachment to it. It is where I got married."
EPL's youngest
- Ethan Nwaneri (Arsenal)
15 years, 181 days old
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15 years, 271 days old
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16 years, 30 days old
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16 years, 68 days old
UNpaid bills:
Countries with largest unpaid bill for UN budget in 2019
USA – $1.055 billion
Brazil – $143 million
Argentina – $52 million
Mexico – $36 million
Iran – $27 million
Israel – $18 million
Venezuela – $17 million
Korea – $10 million
Countries with largest unpaid bill for UN peacekeeping operations in 2019
USA – $2.38 billion
Brazil – $287 million
Spain – $110 million
France – $103 million
Ukraine – $100 million
A little about CVRL
Founded in 1985 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, the Central Veterinary Research Laboratory (CVRL) is a government diagnostic centre that provides testing and research facilities to the UAE and neighbouring countries.
One of its main goals is to provide permanent treatment solutions for veterinary related diseases.
The taxidermy centre was established 12 years ago and is headed by Dr Ulrich Wernery.
THE BIG MATCH
Arsenal v Manchester City,
Sunday, Emirates Stadium, 6.30pm
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Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
Global state-owned investor ranking by size
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
School counsellors on mental well-being
Schools counsellors in Abu Dhabi have put a number of provisions in place to help support pupils returning to the classroom next week.
Many children will resume in-person lessons for the first time in 10 months and parents previously raised concerns about the long-term effects of distance learning.
Schools leaders and counsellors said extra support will be offered to anyone that needs it. Additionally, heads of years will be on hand to offer advice or coping mechanisms to ease any concerns.
“Anxiety this time round has really spiralled, more so than from the first lockdown at the beginning of the pandemic,” said Priya Mitchell, counsellor at The British School Al Khubairat in Abu Dhabi.
“Some have got used to being at home don’t want to go back, while others are desperate to get back.
“We have seen an increase in depressive symptoms, especially with older pupils, and self-harm is starting younger.
“It is worrying and has taught us how important it is that we prioritise mental well-being.”
Ms Mitchell said she was liaising more with heads of year so they can support and offer advice to pupils if the demand is there.
The school will also carry out mental well-being checks so they can pick up on any behavioural patterns and put interventions in place to help pupils.
At Raha International School, the well-being team has provided parents with assessment surveys to see how they can support students at home to transition back to school.
“They have created a Well-being Resource Bank that parents have access to on information on various domains of mental health for students and families,” a team member said.
“Our pastoral team have been working with students to help ease the transition and reduce anxiety that [pupils] may experience after some have been nearly a year off campus.
"Special secondary tutorial classes have also focused on preparing students for their return; going over new guidelines, expectations and daily schedules.”
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
