- UCB is selling its mature neurology and allergy business in China, including products like Keppra and Zyrtec, to CBC Group and Mubadala for $680 million.
August 26 2024 05:00:45 UTC– UCB is divesting its mature neurology and allergy business in China to focus on innovation and partnerships, selling to CBC Group and Mubadala Investment Company for $680 million.
This transaction, valued at $680 million, involves the sale and licensing of UCB’s mature neurology and allergy portfolio in China, which includes prominent brands such as Keppra®, Vimpat®, Neupro®, Zyrtec®, Xyzal®, and the Zhuhai manufacturing site.
The deal has been finalized with CBC Group, Asia’s largest healthcare-dedicated asset management firm, and Mubadala, an investment company based in Abu Dhabi.
This aligns with UCB’s shift towards new product launches globally and commitment to improving patient outcomes in China through partnerships.
The deal is expected to close in Q4 2024 and will not impact UCB’s financial guidance for 2024.