UCB sells mature Chinese business in a package, Middle East and Singapore capital jointly take over for nearly 5 billion yuan

UCB, a Belgian-based biopharmaceutical company, will sell its mature neurology and allergy business in China to Singapore-based asset management group CBC and Abu Dhabi-based investment company Mubadala for US$680 million (about 4.843 billion yuan).

The transaction includes epilepsy drug brands Keppra and Vimpat, Parkinson's drug brand Neupro, allergy drug brands Zyrtec and Xyzal, and the company's Zhuhai production base. According to UCB, the net sales of these drugs in China in 2023 totaled 131 million euros.

The transaction is subject to customary closing conditions and is expected to be completed in the fourth quarter of 2024.

Jean-Christophe Tellier, CEO of UCB, said: "In the short term, UCB is exploring the launch of new medicines in the fields of immunology, neurology and rare diseases in China. We remain steadfast in our commitment to serving patients with unmet needs in China. With our 28 years of operating experience in China, we are committed to driving patient outcomes through continued collaboration with local partners and promoting innovation."

CBC Group CEO Wei Fu said: "Over the past decade, China has seen growing demand for central nervous system (CNS) products, and by leveraging CBC's unique investor-operator model, we are excited to leverage our expertise, resources and platform synergies to meet these evolving needs and create value for our stakeholders."

Mohamed Albadr, Head of Mubadala China, said: "We are pleased to partner with CBC Group to support the next phase of UCB's platform development to become a leading entity in China and deliver transformative medicines to the market. The company's commitment to clinical excellence and innovation is consistent with our commitment to improving access to healthcare services and promoting the development of healthcare systems."

UCB said the transaction will enable it to focus on innovation and collaboration, ensuring that its strategic goals are aligned with the evolving needs of the Chinese market.