US-based private equity firm Egyptian American Enterprise Fund (EAEF) has acquired 46.5% stake in Egyptian ophthalmic pharmaceutical products developer Orchidia Pharmaceutical Industries for EGP700m ($39.59m).
EAEF has acquired 38% stake from SPE Capital (formerly Swicorp Private Equity), 3% from Orchidia Ossama Abbass and the rest through a capital increase.
US-based pharmaceutical company Valeant Pharmaceuticals International plans to divest its stake in female sexual health products developer Sprout Pharmaceuticals.
The divestment will enable the company to streamline its business operations.
10 November 2017