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Mubadala Investment Company, Abu Dhabi's state investor, and CBC Group, Asia's largest healthcare investment firm, have acquired 100% ownership in the carve-out of UCB Pharma’s mature business in China.
UCB is poised for growth in its Central Nervous System (CNS) originator drug portfolio. “CNS is a large and growing therapeutic area in China that has an urgent clinical need. We look forward to building out a broader CNS-focused platform to benefit the China market,” said Mina Hamoodi, Head of Healthcare at Mubadala.
Mubadala did not announce the size of its stake or the value of the transaction.
The acquisition includes UCB’s neurology and allergy portfolio in Mainland China, as well as UCB’s Zhuhai manufacturing site.
The UAE sovereign investor had earlier partnered with CBC Group to invest $315 million in China's pharmaceutical firm Hasten Biopharmaceutic fundraising round.
In 2023, the combined net sales for these medicines in China were 131 million euros ($147 million). The transaction remains subject to certain closing conditions, including required anti-trust clearance(s) and other customary conditions, and is expected to close in Q4 2024, the fund said.
The Abu Dhabi fund, with $302 billion in assets under management, is aiming to roughly double its exposure to Asia by 2030. The investment in China's healthcare and specifically pharma carve-outs, are part of this investment strategy.
(Reporting by Brinda Darasha; editing by Seban Scaria)
