ADCAN PHARMA LLC
In July 2015, FEB acquired a 40% equity stake in ADCAN Pharma LLC. ADCAN Pharma LLC is an Abu Dhabi based company and will primarily comprise medicine production. ADCAN Pharma LLC will be a specialist in the fast-growing therapeutic area of diabetes, and chronic medicine disease such as hypertension, cardiovascular disease and central nervous system. In the longer term, ADCAN Pharma LLC is planning to complement its portfolio with therapeutic categories that support the core business/strategy. The company is still in the development phase. The commercial production is expected by the first half of 2017. This is an investment opportunity to diversify FEB’s investments in the health sector in UAE. Furthermore, the health sector is a focus of the UAE Government today as it is in line with their 2030 vision to diversify from the oil based sector.