100% of “UCB Pharma – China” Ownership Went to Mubadala and CBC Group.
Mubadala Investment Company (Mubadala) has announced its acquisition of 100% ownership of UCB Pharma’s business in China.
This is in partnership with CBC Group—the largest asset management group specializing in healthcare in Asia.
UCB is a global biopharmaceutical company, with a headquarter in Belgium.
Moreover, it holds a prominent position in the market across immunology, neurology, and rare diseases.
and these areas are witnessing significant growth in China.
UCB strategically aims to expand its portfolio in the central nervous system drug segment.
China’s UCB Pharma Branch Sold For $680 Million
The acquisition includes UCB’s neurology portfolio (including Keppra, Vimpat, and Neupro).
In addition to its allergy portfolio (Zyrtec and Xyzal) in mainland China, and a manufacturing site in Zhuhai, China.
The combined net sales of these drugs in China reached €131 million in 2023.
In fact, the deal is expected to close in the fourth quarter of 2024, subject to certain conditions.
Including necessary antitrust approvals and customary terms.
UCB has agreed to sell its specialized neurology and allergy unit in China to Mubadala Investment Company and CBC Group, for $680 million.
The company stated that these assets represent a complete business activity.
They are also part of their strategic shift towards innovation and partnerships in one of the world’s fastest-growing pharmaceutical markets.
UCB is going to be a leading provider of vital medications in China
Mohamed Al Bader, Head of Investments in China at Mubadala, expressed enthusiasm about partnering with CBC Group to support the next phase of UCB’s growth.
Adding that their goal is to establish UCB as a leading provider of vital medications in China.
By making a qualitative impact on the market.
Mina Al Hamoudi, Head of Healthcare at Mubadala, looks forward to building a comprehensive platform.
Which will be focused on central nervous system drugs in the Chinese market.
Highlighting that the increasing and urgent need for these medications in China, both diagnostically and clinically, underscores the importance of this endeavor.
His Excellency Hussain Ibrahim Al Hammadi, UAE Ambassador to the People’s Republic of China, stressed that the United Arab Emirates and the People’s Republic of China have strong and solid relations that have historically been based on mutual respect, interests and a shared… pic.twitter.com/6ZA6P5RBZM
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Jean-Christophe Tellier, CEO of UCB, emphasized that UCB’s short-term plans include launching innovative drugs in immunology, neurology, and rare diseases in China.
They aim to achieve positive results that benefit patients through continuous collaboration with local partners and by enhancing innovation.
Overall, Mubadala and CBC Group are seen as ideal partners to develop the drug portfolio.
And also to improve the quality of life for individuals dealing with neurological and allergic conditions in mainland China.
