Singapore’s CBC Group, an Asian healthcare asset management firm, has completed the acquisition of global biopharmaceutical company UCB's mature neurology and allergy business in China, in partnership with Mubadala Investment Company, an Abu Dhabi global investment firm.
The $680 million deal includes UCB's brands Keppra, Vimpat, Neupro, Zyrtec, Xyzal, and the Zhuhai manufacturing site, according to a media release.
The acquisition continues Singapore-headquartered CBC's strategy of acquiring assets from global pharmaceutical companies and in building a neurology company in China while expanding CBC’s portfolio within the region's pharmaceutical market.
The medicine portfolio will become “an anchor asset” as CBC builds out an integrated central nervous system (CNS) biopharma platform in China, where the market size has reached $33 billion.
In collaboration with Mubadala, CBC said that it will tap its proprietary investor-operator approach, healthcare expertise and platform synergies, to drive operational efficiencies, innovation and scale.
Fu Wei, chief executive officer (CEO) of CBC Group, said in a statement, “There is clear potential within the regional healthhcare 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.”
The company aims to leverage innovative therapies and cutting-edge research to enhance patient outcomes and shape the future of neurology care in the region.
Combined net sales for the acquired portfolio in this transaction were €131 million ($137 million) in 2023. The strategic acquisition builds on CBC's collaboration with Mubadala, which includes their investment in CBC Healthcare Infrastructure Platform's (HIP) first life science real assets venture and the joint investment in the $315 million fundraising round for CBC-backed Hasten, a leading pharmaceutical company.
Mohamed Albadr, head of Asia at Mubadala, said, "Built on a strong foundation of proven therapies and driven by innovation and cutting-edge research, the company is uniquely positioned to address the growing need for advanced neurology and allergy treatments while aligning with our commitment to enhancing access to care and growth in the healthcare system."
CBC Group is Asia's largest healthcare-dedicated asset management firm, with assets under management of $9 billion. CBC Group is focused on platform-building, buyout, private credit and royalties, and real estate, across the healthcare space, including pharmaceutical, biotech, medical technology, and healthcare services.
Brussels-headquartered UCB, Brussels, is a global biopharmaceutical company focused on the discovery and development of innovative medicines and solutions to transform the lives of people living with severe diseases of the immune system or of the central nervous system. It has around 9,000 across 40 countries, and generated revenue of €5.3 billion in 2023.
Explaining the rationale behind the sale, Jean-Christophe Tellier, CEO at UCB, said, "In the short term, UCB is exploring the launch of novel medicines in immunology, neurology, and rare diseases in China."
He added: "Our dedication to serving patients with unmet needs in China remains steadfast. Building on our 28-year presence in the country, we are committed to driving patient outcomes through continued collaboration with local partners and fostering innovation.”
