Mubadala Investment Company announced on Monday that in partnership with CBC Group, Asia’s largest healthcare-dedicated asset management group, it has acquired 100 per cent ownership in the carve-out of UCB Pharma’s mature business in China.
UCB, a global biopharmaceutical company headquartered in Belgium, occupies a market-leading position in the strong and expanding immunology, neurology and rare disease market in China, and is strategically poised for growth in its Central Nervous System (CNS) originator drug portfolio.
The scope of this acquisition includes UCB’s neurology portfolio (Keppra®, Vimpat®, Neupro®) and allergy portfolio (Zyrtec®, Xyzal®) in Mainland China, as well as UCB’s Zhuhai manufacturing site.
In 2023, the combined net sales for these medicines in China were 131 million euros. The transaction remains subject to certain closing conditions, including required anti-trust clearance(s) and other customary conditions, and is expected to close in Q4 2024.
This investment aligns with Mubadala’s vision to expand its footprint across Asia through selective investment across diverse sectors with strong growth potential.
Healthcare, and specifically pharma carve-outs, are at the forefront of this investment strategy. Additionally, the strategic collaboration with CBC Group, following the Hasten Biopharma acquisition, underscores Mubadala’s ongoing commitment to establishing dedicated platforms to target and serve unmet needs in China and the broader Asia healthcare markets.
Mohamed Albadr, Head of China at Mubadala, said, “We are thrilled to partner with CBC Group to support the next phase of UCB’s platform as it scales to a leading entity in China and delivers transformative medicines to the markets. The company’s dedication to clinical excellence and innovation aligns with our commitment to enhancing access to care and growth in the healthcare system.”
Mina Hamoodi, Head of Healthcare at Mubadala, said, “CNS is a large and growing therapeutic area in China that has an urgent clinical need. We look forward to building out a broader CNS-focused platform to benefit the China market.”
Jean-Christophe Tellier, CEO at UCB, commented, “We are convinced that Mubadala and CBC Group are the ideal partners to advance the medicine portfolio and continue to improve the lives of people living with neurology and allergy diseases in mainland China.
Source: www.khaleejtimes.com