Healthcare moves from summit, Habib Al Mulla goes to Shanghai, no rest for Adia’s India IPO drive, Invictus offloads Merec stake

Abu Dhabi gets a slice of the Mounjaro supply chain

Lilly’s weight-loss jabs could soon be boxed in Kezad: Mubadala Bio will handle localized packaging and logistics for Eli Lilly’s GLP-1 medicines, the drug family that includes Mounjaro, from a 125k sqm packaging and warehousing site in Kezad, according to the Abu Dhabi Media Office. The two announced the partnership at the Abu Dhabi Future Health Summit this week.

The details: The work will be phased in subject to quality and regulatory sign-off, and no financials or timeline were disclosed. It still gives Mubadala Bio a marquee name for its contract manufacturing pitch. Lilly gets a regional base in a market that was an early Mounjaro launch market in 2022 and became the second country to register its new oral weight-loss pill Foundayo in April.

ALSO FROM THE SUMMIT- IHC-owned Adcan Pharma is partnering with MS Pharma to localize biosimilars in the UAE, according to a statement. The partnership covers local manufacturing, packaging, testing, and batch release of biosimilars, injectables, and oral drugs, with a focus on biosimilars. As part of the partnership, Adcan will set up a UAE lab that can carry out the full range of quality testing for monoclonal antibodies. No financials or timeline were disclosed.

Vitalls secures USD 1.5 mn seed commitment

UAE-based healthtech startup Vitalls landed a USD 1.5 mn seed pledge from Singapore-based EST Growmore, the investment arm of EST Group, as an anchor investor, with an option for a further USD 1 mn, according to a press release. Bringing EST Group’s telecom and healthcare networks on board as an anchor secures actual distribution channels, potentially giving the startup access to new markets and customers.

Making health records portable: Founded in 2023 by Mehdi Bouchenak, Vitalls is building an AI-powered digital health passport letting expats who frequently relocate store, manage, and share medical records across healthcare providers and countries. The funding will support product development and rollout, targeting internationally mobile individuals, families, and enterprises.

Habib Al Mulla takes its China play to Shanghai

Dubai-based law firm Habib Al Mulla & Associates set up shop in Shanghai, becoming the first Arab firm to offer business consulting services in China, according to a press release. The local presence is designed to help clients capture trade and investment prospects between China and the Middle East while giving the firm a base to support businesses and navigate the wider region’s regulatory frameworks.

NMC puts AED 150 mn behind Abu Dhabi expansion

Abu Dhabi-based NMC Healthcare Group is committing AED 150 mn (USD 40.8 mn) to overhaul and expand its Abu Dhabi facilities and footprint, adding capacity and expanding specialist services as the UAE’s healthcare demand continues to climb, according to a press release.

More beds, bigger emergency care: The program includes a multi-year transformation of Royal Hospital Khalifa City, with more than 20 additional inpatient beds and 20 new outpatient consultation and treatment rooms over the next five years. The emergency department will expand to more than 40 treatment bays, alongside upgrades to maternity units, pediatric services, VIP areas, and entrances.

REMEMBER- Outpatient care is already the bigger business for NMC, with consultations, diagnostics, day cases, and outpatient pharmacy accounting for roughly two-thirds of revenue, Chief Strategy Officer Chris Habib has recently told us.

No rest for Adia

Adia is anchoring another Indian IPO: Abu Dhabi Investment Authority’s (Adia) unit Stable was allocated 1.01 mn shares at INR 693 apiece, worth nearly INR 700 mn (c. USD 7.4 mn), in hospital operator Paras Healthcare’s INR 14.5 bn (c. USD 153.4 mn) listing, according to a stock exchange disclosure (pdf). That’s 10.73% of the c. INR 6.5 bn anchor book, a bigger slice than any single domestic mutual fund scheme took.

Adia just recently took an anchor position in what is on track to be India’s biggest IPO so far this year. The sovereign wealth fund secured 2.96% of the shares allotted for anchor investors in Jio Platforms’ USD 3.2 bn IPO, bringing its overall stake in the firm after the listing to 1.15% while avoiding diluting its pre-listing 1.16% holding.

Invictus brings Helios into Mozambique flour business

Invictus Investment is offloading up to a 49% minority stake in Mozambique’s dominant miller Merec Industries to pan-African PE firm Helios Investment Partners, according to an ADX disclosure (pdf). The ADX-listed agro-food outfit will keep majority control, but bringing in an institutional heavyweight less than two years after acquiring Merec is set to add seasoned regional muscle and split the capex bill for continental expansion. The process is expected to close by end-2026, subject to regulatory approvals. The transaction value has not been disclosed.

Merec? Invictus acquired Merec in January 2025. Founded in 1998, Merec’s mills, production facilities, and silos span Mozambique’s three main port regions, and it owns a grain terminal at Maputo port.

A direct line home

Abu Dhabi-based fintech Botim has partnered with Orange Egypt to let Egyptians in the UAE send money home directly to Orange Cash wallets, Orange said in a statement. Money arrives in the wallet 24/7, and recipients can move, spend, or withdraw the funds once they land.

IN CONTEXT- Botim’s Egyptian footprint already includes a 2023 tie-up with payments platform Fawry to let Egyptians in the UAE pay bills and send remittances home. This is its first partnership with a mobile network operator in Egypt, per the statement. Remittances hit USD 47.3 bn in FY 2025/26, up 29.6%, and the UAE is one of the larger sources.