CBC Group, in partnership with the Mubadala Investment Company, has completed the strategic acquisition of Union Chimique Belge’s (UCB) mature neurology and allergy business in China for $680m.
The move comes after UCB agreed to sell and license its business in August 2024.
The deal encompasses UCB’s Zhuhai manufacturing site and its brands Xyzal, Keppra, Zyrtec, Vimpat and Neupro.
They are set to be the cornerstone assets for CBC as it develops an integrated central nervous system (CNS) biopharma platform in China.
Working alongside Mubadala, CBC plans to leverage its platform synergies, investor-operator approach and healthcare expertise, to optimise operations, foster innovation and expand its reach to benefit more patients in the region.
The new entity formed from this acquisition called NeuroGen Pharma is set to offer neuro healthcare innovation services.
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It will be spearheaded by a management team with a solid background in the biopharma industry, which is expected to ensure a seamless transition and drive future growth.
The company aims to deliver quality treatments and address the evolving neurology treatment needs in the country.
The acquired portfolio reported combined net sales of €131m ($138m) in 2023.
The strategic acquisition is part of a broader partnership between CBC and Mubadala, which also includes their joint investment in the $315m fundraising round for Hasten and an investment in CBC Healthcare Infrastructure Platform’s first life science real assets venture.
CBC Group CEO Fu Wei stated: “There is clear potential within the regional healthcare space to better serve patients with unmet medical needs in this growing CNS therapeutics market, and we are delighted to partner with Mubadala once again.
“This acquisition complements our existing healthcare ecosystem and aligns with our robust buyout strategy, which is strategically positioned to drive long-term, sustainable value in today’s healthcare investing market.”
