403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
Mubadala acquires full ownership of UCB Pharma's business in China
(MENAFN) Mubadala Investment Company, the prominent Abu Dhabi-based sovereign investor, has secured complete ownership of UCB Pharma's operations in China through a partnership with CBC Group, Asia's leading healthcare asset management firm. UCB, a Belgian biopharmaceutical powerhouse known for its expertise in immunology, neurology, and rare diseases, has established a significant market presence in China. This acquisition encompasses UCB's neurology and allergy portfolios, including drugs such as Keppra®, Vimpat®, Neupro, Zyrtec®, and Xyzal®, along with a manufacturing facility located in Zhuhai, China. These products generated combined net sales of €131 million in China during 2023.
The deal, anticipated to conclude in the fourth quarter of 2024, is contingent upon meeting various conditions, including regulatory approvals and other standard requirements. This investment aligns with Mubadala’s strategic focus on expanding its footprint in Asia through targeted investments in high-growth sectors. The healthcare sector, particularly pharmaceutical acquisitions, remains a key priority in Mubadala’s investment strategy. The partnership with CBC Group, following Mubadala’s recent acquisition of Hasten Biopharma, highlights the firm’s dedication to enhancing healthcare capabilities in China and across Asia.
Mohammed Al Bader, Head of China Investments at Mubadala, expressed enthusiasm about the collaboration, emphasizing the alignment of UCB’s clinical excellence and innovation with Mubadala’s commitment to advancing healthcare systems and improving access to healthcare. This move is set to position Mubadala and its partners as significant contributors to the growth and development of the biopharmaceutical landscape in China.
The deal, anticipated to conclude in the fourth quarter of 2024, is contingent upon meeting various conditions, including regulatory approvals and other standard requirements. This investment aligns with Mubadala’s strategic focus on expanding its footprint in Asia through targeted investments in high-growth sectors. The healthcare sector, particularly pharmaceutical acquisitions, remains a key priority in Mubadala’s investment strategy. The partnership with CBC Group, following Mubadala’s recent acquisition of Hasten Biopharma, highlights the firm’s dedication to enhancing healthcare capabilities in China and across Asia.
Mohammed Al Bader, Head of China Investments at Mubadala, expressed enthusiasm about the collaboration, emphasizing the alignment of UCB’s clinical excellence and innovation with Mubadala’s commitment to advancing healthcare systems and improving access to healthcare. This move is set to position Mubadala and its partners as significant contributors to the growth and development of the biopharmaceutical landscape in China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Comments
No comment