Mubadala Investment Company, Abu Dhabi’s strategic investment arm, and Asia's largest healthcare-focused manager CBC Group have jointly acquired UCB Pharma's unit in China.
The deal aimed at expanding Mubadala’s healthcare and life-sciences portfolio will give the partners control over “the carve-out of UCB Pharma’s mature business in China”, Mubadala said in a statement on Monday.
The Belgium-headquartered biopharmaceutical company UCB’s business in China is among market leaders in the country’s immunology, neurology and rare disease market, and is poised for significant growth.
The acquisition includes UCB’s neurology and allergy portfolios in Mainland China, as well as the company’s Zhuhai manufacturing site, Mubadala said.
The transaction remains subject to required antitrust clearance and other customary conditions, and is expected to be finalised in the fourth quarter of this year, the company said.
Mubadala will “support the next phase of UCB’s platform as it scales to a leading entity in China and delivers transformative medicines to the markets,” Mohamed Albadr, head of China at Mubadala, said.
“The company’s dedication to clinical excellence and innovation aligns with our commitment to enhancing access to care and growth in the healthcare system.”
Mubadala, which invests on behalf of the Abu Dhabi government, is at the heart of the emirate’s efforts to diversify its revenue base and generate income from sources other than oil. Its interests span six continents and includes the aerospace, semiconductors, metals and mining, renewable energy, oil and gas, and petrochemicals sectors.
In recent years, it has pivoted to life sciences and pharmaceutical investments and has also expanded its healthcare portfolio at a brisk pace.
The latest investment in UCB Pharma’s China business is also in line with Mubadala’s vision to expand its footprint across Asia through selective investment across sectors with strong growth potential.
“Healthcare, and specifically pharma carve-outs, are at the forefront of this investment strategy,” Mubadala said.
Additionally, the strategic collaboration with CBC Group, also reflects its commitment to establishing dedicated platforms to target and serve unmet needs in China and the broader Asia healthcare markets.
“CNS is a large and growing therapeutic area in China that has an urgent clinical need. We look forward to building out a broader CNS-focused platform to benefit the China market,” said Mina Hamoodi, head of healthcare at Mubadala.
With assets in excess of Dh1.11 trillion ($302.2 billion), Mubadala is also focusing on expanding its life sciences and healthcare portfolio at home.
In March, Mubadala said it is acquiring emerging markets-focused speciality pharmaceutical company Kelix bio in a push to further develop the UAE’s life sciences ecosystem.
Mubadala entered into a definitive agreement to acquire the company from a consortium of investors, including Development Partners International, British International Investment and the European Bank for Reconstruction and Development, the company said at the time.
Last year, Mubadala and artificial intelligence company G42 launched M42, a “tech-enabled” healthcare company designed to advance medical research and capabilities in the UAE.
The company has a broad portfolio of assets including Amana Healthcare, Biogenix Labs, Danat Al Emarat, HealthPoint Hospital, the HealthPlus network of speciality centres, Moorfields Eye Hospital Abu Dhabi, Imperial College London Diabetes Centre, Insights Research Organisation & Solutions, the Omics Centre of Excellence and the National Reference Laboratory.
In January last year, Mubadala and technology-focused manufacturing company National Resilience signed a deal to establish a new biopharma manufacturing facility in the UAE.
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Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
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Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
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Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
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