UCB to accelerate innovation and strategic partnerships, divesting mature product portfolio in China to CBC Group.
UCB, a global biopharmaceutical company, announced a strategic divestment deal in China, underscoring its strategic shift towards innovation and partnership in one of the world’s fastest-growing pharmaceutical markets
This transaction involves the sale, divestment and license of UCB’s mature business (neurology and allergy) in China, including Keppra, Vimpat, Neupro, Zyrtec, Xyzal, and the Zhuhai manufacturing site, to CBC Group, Asia’s largest healthcare-dedicated asset management group, and Mubadala, the Abu Dhabi based investment company, for an amount of US$680 million. This medicine portfolio, consisting of well-established and trusted solutions, continues to deliver value and reliability to patients in China.
UCB’s global late-stage pipeline evolved into several new product launches around the globe, and UCB is focusing on company growth set to last for more than a decade. UCB decided to evolve UCB China's focus and sell the mature neurology and allergy business to a reputable investor with deep-rooted healthcare expertise and a commitment to improving efficiencies in fulfilling unmet medical needs. This partnership will allow more patients to benefit from UCB's past innovations as the new leading neurology company that CBC Group and Mubadala develops and operates at scale in China.
"In the short term, UCB is exploring the launch of novel medicines in immunology, neurology, and rare diseases in China," stated Jean-Christophe Tellier, CEO at UCB. "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.” Concerning the agreement, Jean-Christophe also said: “We are convinced that the CBC Group and Mubadala are the ideal partners to advance the medicine portfolio and continue to improve the lives of people living with neurology and allergy diseases in mainland China."
The scope of this divestment includes UCB’s neurology portfolio (Keppra, Vimpat, Neupro) and allergy portfolio (Zyrtec, Xyzal) in Mainland China, as well as UCB’s Zhuhai manufacturing site.
This transaction will allow UCB to focus its efforts on innovation and partnerships, ensuring that its strategic goals align with the evolving demands of the Chinese market. Combined net sales for these medicines in China for 2023 were 131 million euros.
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