Biopharmaceutical company has entered a divestment agreement in China to sell, divest and license its mature neurology and allergy business to CBC Group and Mubadala in a deal valued at $680m. The neurology portfolio includes Keppra, Vimpat and Neupro and the allergy portfolio comprises Zyrtec and Xyzal. The gold standard of business intelligence.
UCB is also divesting its Zhuhai manufacturing site. CBC Group is an Asian healthcare-focused asset management group. Mubadala is an investment company based in the United Arab Emirates.
By divesting its mature business in China, UCB aims to re-align its operations with the dynamic needs of the Chinese pharmaceutical market. The strategic move will enable the company to concentrate on areas of innovation and foster partnerships, ensuring alignment with its long-term strategic objectives in the region. Access the most comprehensive Company Profiles on the market, powered by GlobalData.
Save hours of research. Gain competitive edge. Your download email will arrive shortly We are confident about the unique quality of our Company Profiles.
However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form In 2023, the combined net sales of mature business assets in China reached €131m. The deal will conclude in the fourth quarter (Q4) of 2024. The agreement will not affect UCB’s financial guidance for 2024.
However, subject to the deal’s closure.