Mubadala Investment Company revealed on Monday that, in collaboration with CBC Group, Asia's foremost healthcare-focused asset management entity, it has secured full ownership of UCB Pharma's established business in China.
UCB, a leading global biopharmaceutical firm based in Belgium, holds a prominent market position in China's robust and growing immunology, neurology, and rare disease sectors, and is strategically set for expansion in its Central Nervous System (CNS) original drug portfolio.
This acquisition encompasses UCB's neurology portfolio (Keppra®, Vimpat®, Neupro®) and allergy portfolio (Zyrtec®, Xyzal®) in mainland China, along with UCB's Zhuhai manufacturing facility. In 2023, the combined net sales of these medications in China reached 131 million euros.
The deal is pending certain closing conditions, including necessary antitrust approvals and other standard conditions, and is anticipated to finalize in Q4 2024. This investment is in line with Mubadala's strategy to broaden its presence across Asia through targeted investments in sectors with significant growth potential, with healthcare, particularly pharma carve-outs, being a key focus.
Furthermore, the strategic partnership with CBC Group, following the acquisition of Hasten Biopharma, reinforces Mubadala's commitment to creating specialized platforms to address unmet needs in China and the wider Asian healthcare markets.
Mohamed Albadr, Head of China at Mubadala, expressed, "We are excited to collaborate with CBC Group to support UCB's platform as it evolves into a leading entity in China, delivering transformative medicines to the market. The company's focus on clinical excellence and innovation aligns with our goal to improve access to care and foster growth in the healthcare sector."
Mina Hamoodi, Head of Healthcare at Mubadala, stated, "CNS is a significant and expanding therapeutic area in China with pressing clinical needs. We anticipate developing a broader CNS-focused platform to serve the China market."
Jean-Christophe Tellier, CEO at UCB, remarked, "We believe that Mubadala and CBC Group are the perfect partners to enhance the medicine portfolio and continue to improve the lives of those affected by neurology and allergy diseases in mainland China."
