The Abraaj Group of Dubai recently announced it full exit from Opalia Pharma of Tunisia. The private equity firm had said in a statement that it sold its entire stake. The purchaser of the stake is Recordati, an international pharmaceutical company that is listed in the Italian bourse.

Back in 2009, the Abraaj Group had purchased its interest in Opalia. This was the first deal of the Group made in the Tunisian market. In a statement, the four year involvement of Abraaj in Opalia led to the doubling in volume of its sales. 

Opalia Pharma is a Tunisian pharmaceutical firm based out of Ariana, near the capital Tunis. The company's business is the sale of branded generic drugs with products in dermatological, gastrointestinal and respiratory therapeutic areas.

According the Abraaj Group Partner Ahmed Badreldin, "The investment case for Opalia was compelling, as the company operates in a pharmaceutical market which as been uninterrupted growth in Tunisia over years, driven by favorable demographics and increasing GDP per capita."