UCB, a global biopharmaceutical company, has announced a strategic divestment deal in China. This transaction involves the sale, divestment and license of UCB’s mature business (neurology and allergy) in China, including Keppra®, Vimpat®, Neupro®, Zyrtec®, Xyzal®, and the Zhuhai manufacturing site, to CBC Group, Asia’s largest healthcare-dedicated asset management group, and Mubadala, the Abu Dhabi based investment company, for an amount of US$680 million.
“In the short term, UCB is exploring the launch of novel medicines in immunology, neurology, and rare diseases in China,” said Jean-Christophe Tellier, CEO at UCB. “Our dedication to serving patients with unmet needs in China remains steadfast. 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.”
Concerning the agreement, Jean-Christophe also said: “We are convinced that the CBC Group and Mubadala are the ideal partners to advance the medicine portfolio and continue to improve the lives of people living with neurology and allergy diseases in mainland China.”
“The demand for central nervous system (CNS) products in China has been increasing over the past decade, and by leveraging CBC’s unique investor-operator approach, we are excited to channel our expertise, resources and platform synergies to meet these evolving needs and drive value for our stakeholders,” said Fu Wei, Chief Executive Officer of CBC Group.
“This strategic deal aligns with CBC’s strategy of investing in high potential companies with quality products, strong brand equity, dedicated talents and steady growth outlook. It will complement our existing healthcare ecosystem, serving as an anchor asset to further build out a leading integrated CNS biopharma platform in China that will deliver gold standard treatment to more patients nationwide.”
“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. The company’s dedication to clinical excellence and innovation aligns with our commitment to enhancing access to care and growth in the healthcare system,” said Mohamed Albadr, Head of China at Mubadala.
The scope of this divestment includes UCB’s neurology portfolio (Keppra®, Vimpat®, Neupro®) and allergy portfolio (Zyrtec®, Xyzal®) in Mainland China, as well as UCB’s Zhuhai manufacturing site. This transaction will allow UCB to focus its efforts on innovation and partnerships, ensuring that its strategic goals align with the evolving demands of the Chinese market. Combined net sales for these medicines in China for 2023 were 131 million euros.
