Mubadala buys four pharmaceutical businesses after deal with GlobalOne Healthcare
Abu Dhabi wealth fund picks up new entities from Yas Holding owned entity
Dubai: Abu Dhabi’s Mubadala Investment Co. is expanding its pharmaceutical interests through the buyout of four entities - Bioventure, Bioventure Healthcare, Gulf Inject and Wellpharma – from GlobalOne Healthcare.
Mubadala had earlier completed the acquisition of Kelix bio, a specialty pharma company that’s focused on ‘complex’ generics for the emerging markets. The new deal is being processed through Kelix bio.
GlobalOne Healthcare Holding is the healthcare division of Abu Dhabi headquartered Yas Holding.
“The rapid completion of the Kelix bio acquisition and this subsequent transaction demonstrate our commitment to building a thriving life sciences sector in the UAE," said Dr. Bakheet Al Katheeri, CEO of UAE Investments Platform at Mubadala.
"We continue to seek partnerships and investments that align with our strategic goals, as we aim to generate value for our stakeholders while strengthening the UAE's position in this critical global industry."
Mubadala had bought Kelix bio in March last.
The GlobalOne Healthcare’s assets include biopharma and IV solutions manufacturing. "Integrating these assets into Kelix bio’s ecosystem significantly advances their expanded capabilities," said a Mubadala statement. The four entities are:
- Bioventure specializes in biotech and generics commercialization, as well as tech transfer and in/out-licensing activities.
- Bioventure Healthcare is a leading regional producer of soft gelatin capsules for pharmaceutical and supplement products. It is expanding into oral solids and injectables.
- Gulf Inject is in sterile fluid management therapy, parenteral therapy, and healthcare manufacturing solutions.
- Wellpharma specialises in intravenous therapies (IV) and dialysis, along with other therapeutic products.
“This acquisition reinforces our strategic intent to position the UAE at the forefront of the life sciences ecosystem on a global scale," said Ismail Ali Abdulla, Head of UAE Clusters, at Mubadala’s UAE Investments Platform. "It contributes to our nation’s economic diversification, creates valuable socio-economic returns, and reaffirms Mubadala’s ambitions within the sector.”