Abu Dhabi state holding company ADQ has launched Arcera, a global holding company in the life sciences sector, to meet the emirate’s diversification goals.

The new company, headquartered in the emirate, will support Abu Dhabi’s 2030 healthcare life sciences vision and bolster the UAE’s position as a frontrunner in science and technology.

The holding company will own ADQ’s stakes in Switzerland’s Acino International, Turkey’s Birgi Mefar Group and Egypt’s Amoun Pharmaceutical Company.

The company intends to double its revenue over the next five years through strategic acquisitions in key global markets and forging international partnerships, ADQ said in a statement.

Arcera’s portfolio will consist of 2,000 branded medicines across a range of therapeutic areas, addressing numerous acute and chronic conditions in neurology, gastroenterology, cardiovascular, pain relief, rheumatology, and anti-infectives.

The company’s manufacturing and packaging base includes seven sites in the UAE, Switzerland, Ukraine, Estonia, South Africa, Turkey and Egypt.

(Editing by Seban Scaria seban.scaria@lseg.com)