CBC Group (CBC), in partnership with Mubadala Investment Company, has completed the acquisition of UCB’s mature neurology and allergy business in China for $680m.
CBC is a Singapore-based healthcare-focused asset management company, and Mubadala Investment is an Abu Dhabi-based investment company.
In August this year, Belgium-based biopharmaceutical company UCB announced a strategic agreement for the sale, divestment, and license of its mature business in China.
The acquisition includes UCB’s Keppra, Vimpat, Neupro, Zyrtec, and Xyzal brands of neurology and allergy medicines, along with the company’s Zhuhai manufacturing site.
The new combined company, dubbed NeuroGen Pharma, will be led by a management team with deep experience in the biopharma industry, to ensure a smooth transition.
NeuroGen Pharma is expected to deliver quality treatments to more patients and play a key role in addressing the evolving neurology treatment needs in China.
UCB CEO Jean-Christophe Tellier said: “In the short term, UCB is exploring the launch of novel medicines in immunology, neurology, and rare diseases in China. 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.
“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.”
CBC said the transaction is in line with its strategy of acquiring key assets from global pharmaceutical companies to establish a top neurology company in China.
The acquisition will strengthen its presence in the Chinese healthcare market and enhance its capabilities to address the rising demand for neurology and allergy treatments.
The newly acquired portfolio generated combined net sales of €131m, last year.
The portfolio would support its goal of building an integrated central nervous system (CNS) biopharma platform in China, said the Singapore-based asset manager.
CBC Group CEO Fu Wei said: “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.
“Together, we are making a profound impact on the industry by harnessing our combined expertise and capital to not only enhance patient outcomes but also build value for our stakeholders.
“Leveraging our joint strengths, we are poised to capitalize on synergies and deploy hands-on strategic guidance to make significant strides in CNS market access and innovation.”
The strategic acquisition builds on collaboration between CBC and Mubadala, including their joint investment in CBC Healthcare Infrastructure Platform (HIP) and CBC-backed Hasten.
In partnership with Mubadala, CBC will tap into its unique investor-operator approach, deep healthcare expertise and platform synergies to benefit more patients across the region.
Furthermore, the company aims to use UCB’s advanced therapies and research to enhance patient outcomes and shape the future of neurology care in the region.
Mubadala Asia head Mohamed Albadr said: “We are thrilled to partner with CBC Group to support the growth and development of NeuroGen Pharma as it scales to a leading entity in China and delivers transformative medicines to patients.
“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.”
