Mubadala Co-Invests in UCB's Established Business in China

29 Aug, 2024

Mubadala Co-Invests in UCB's Established Business in China

: Mubadala Investment Company has acquired 100% ownership of UCB Pharma's mature business in China, in partnership with CBC Group, Asia's largest healthcare-dedicated asset management firm. This acquisition involves UCB's neurology and allergy portfolios, including drugs like Keppra, Vimpat, Neupro, Zyrtec, and Xyzal, along with the Zhuhai manufacturing site. In 2023, these products generated net sales of 131 million euros in China.

The deal, expected to close in Q4 2024, is subject to anti-trust clearances and other conditions. This investment reflects Mubadala's strategy to expand across Asia by targeting sectors with strong growth potential, particularly in healthcare and pharma carve-outs. The collaboration with CBC Group, following the Hasten Biopharma acquisition, highlights Mubadala's commitment to addressing unmet needs in the Chinese and broader Asian healthcare markets.

Mohamed Albadr, Mubadala's Head of China, expressed enthusiasm for the partnership, emphasizing the alignment of UCB's innovative approach with Mubadala’s goal of enhancing healthcare access and growth. Mina Hamoodi, Mubadala's Head of Healthcare, noted the urgent clinical needs in the Central Nervous System (CNS) therapeutic area in China. UCB CEO Jean-Christophe Tellier supported the partnership, believing it will advance the company's drug portfolio and improve patient lives in China.