Dubai: In one of its biggest investments into Asian markets, Abu Dhabi's Mubadala has bought out some of UCB Pharma's China business. This is done in alliance with the healthcare-focused asset management group CBC.
UCB, a biopharmaceutical company with headquarters in Belgium, has a 'market-leading position' in the immunology, neurology and rare disease market in China. It is also 'strategically poised for growth' in its Central Nervous System originator drug portfolio.
The scope of the Mubadala-CBC 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 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," said in a statement by Mubadala. "Healthcare, and specifically pharma carve-outs, are at the forefront of this investment strategy.
The collaboration with CBC Group follows the Hasten Biopharma acquisition, which is in line with Mubadala's plan to establish 'dedicated platforms to target and serve unmet needs in China and the broader Asia healthcare markets'.
“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,” said Mohamed Albadr, Head of China at Mubadala.
In the short term, UCB is looking to launch 'novel medicines in immunology, neurology, and rare diseases in China', said Jean-Christophe Tellier, CEO at UCB. "Building on our 28-year presence in the country, we are committed to driving patient outcomes through continued collaboration with local partners and fostering innovation,” he added.
