Actis, a leading growth markets investor, Friday, announced a significant investment in Medis Group, a prominent branded generic pharmaceuticals business in Tunisia and Algeria.
Actis has acquired a meaningful stake in the business from Africinvest, one of the key PanAfrican Mid Cap PE players, and from the founding Boujbel family.
Actis will also inject further funds into the business to finance a buy-and-build strategy to create a leading panAfrican/ Middle-Eastern pharmaceutical business.
Founded by Dr Lassaad Boujbel, Tunisian-headquartered Medis has a broad portfolio of quality, affordable medicines with strong recognition and trust among doctors and patients. Products range from oral solid pharmaceuticals targeting chronic diseases such as diabetes and high blood pressure to sterile injectable pharmaceuticals, as well as branded medicines in therapy areas including pain, allergies and gastric reflux.
Looking ahead, Medis has ambitious plans to extend into complex ‘biosimilar’ medicines that treat diseases such as infertility and multiple sclerosis and to become one of the few producers of affordable cancer drugs in the region. It also intends to move into the production of asthma inhalers.