Abu Dhabi state investor Mubadala and CBC Group have agreed to acquire UCB’s Chinese neurology and allergy business for $680M. This deal, expected to close in Q4 2024 pending regulatory approval, includes UCB’s neurology products (Keppra, Vimpat, Neupro) and allergy medications (Zyrtec, Xyzal), as well as the Zhuhai manufacturing site. UCB confirmed that this transaction will not affect its 2024 forecasts.
Jean-Christophe Tellier, UCB’s CEO, noted that the company is looking into launching new medicines in immunology, neurology, and rare diseases in China. He expressed confidence that Mubadala and CBC Group are the right partners to advance its medicine portfolio and benefit patients in mainland China.
This acquisition will enable UCB to focus more on innovation and partnerships, aligning with the demands of the Chinese market. UCB’s 2023 sales of these medicines in China totalled EUR131M. Fu Wei, CEO of CBC Group, highlighted the increasing demand for central nervous system products in China and stated that the deal fits CBC’s strategy of investing in high-potential companies.
The transaction also expands the partnership between CBC and Mubadala, following Mubadala’s investment in CBC’s Chinese life-science real estate platform last October and their joint $315M investment in Hasten in April 2023. Mubadala’s assets under management grew by 9.5% to $302.2B in 2023. Its investment portfolio remains diversified, with significant allocations in private equity, public markets, and real estate.
