CBC has completed the strategic acquisition of global biopharmaceutical company UCB's mature neurology and allergy business in China, in partnership with Mubadala Investment Company, the Abu Dhabi based global investment company.
CBC is Asia's largest healthcare-dedicated asset management firm headquartered in Singapore.
The acquisition marks another successful transaction under CBC's buyout strategy of acquiring key assets from global pharmaceutical companies and a significant step in establishing a market-leading neurology company in China while expanding CBC's portfolio within the region's dynamic pharmaceutical market.
"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," Fu Wei, CEO of CBC Group, said.
The transaction, valued at $680 million, includes UCB's well-known brands Keppra, Vimpat, Neupro, Zyrtec, Xyzal, and the Zhuhai manufacturing site.
The well-established and trusted medicine portfolio will serve as an anchor asset as CBC builds out a leading integrated central nervous system (CNS) biopharma platform in China, where the market size has reached $33 billion.
Beyond strengthening CBC's presence in the rapidly growing Chinese healthcare market, the acquisition also enhances the firm's capabilities in meeting the rising demand for neurology and allergy treatments in the wider region. In collaboration with Mubadala, CBC will tap on its proprietary investor-operator approach, deep healthcare expertise and platform synergies to drive operational efficiencies, innovation and scale to benefit more patients across the region.
Named "NeuroGen Pharma," the new company embodies what CBC and Mubadala envision for neuro healthcare innovation. The company will be led by a deep and experienced management team with an extensive track record in the biopharma industry, ensuring a smooth transition to propel into the next phase of growth.
Combined net sales for the acquired portfolio in this transaction were Euro131 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 US$315 million fundraising round for CBC-backed Hasten, a leading pharmaceutical company.
Built on a strong foundation of proven therapies and driven by innovation and cutting-edge research, the company (CBC) 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," Mohamed Albadr, Head of Asia at Mubadala, said/
For his part, 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. Our dedication to serving patients with unmet needs in China remains steadfast."
