Mubadala Investment Company’s unit Kelix bio has bought four of GlobalOne Healthcare Holding’s (GHH) pharma assets in an effort to develop the UAE’s life sciences ecosystem.
As part of the deal, Kelix bio acquired GHH’s Bioventure, Bioventure Healthcare, Gulf Inject and Wellpharma, Mubadala said in a statement on Monday.
The company did not disclose the total value of the transaction, but said the deal enhances the "UAE's pharmaceutical infrastructure, addresses prevalent diseases, secures drug supply" and reduces healthcare costs.
GHH is a healthcare division of the UAE-based investment company Yas Holding that has interests in sectors including health care, aviation, technology and real estate.
The new deal was concluded after Mubadala last month bought Kelix bio, an emerging markets-focused speciality pharmaceutical company. This is the first acquisition made by Kelix bio after Mubadala bought it.
“The rapid completion of the Kelix bio acquisition and this subsequent transaction demonstrate our commitment to building a thriving life sciences sector in the UAE and supporting our nation’s ambition for a knowledge-based economy," said Bakheet Al Katheeri, chief executive of UAE Investments Platform at Mubadala. "We continue to seek partnerships and investments that align with our strategic goals, as we aim to generate value for our stakeholders while strengthening the UAE's position in this critical global industry."
Bioventure is a bio-pharmaceutical company in the UAE that specialises in “biotech and generics commercialisation” and has a global presence, while Bioventure Healthcare produces soft gelatin capsules for pharmaceutical and supplement products, Mubadala said.
Wellpharma is involved in the production of therapeutic products for intravenous therapies and dialysis.
The latest deal comes as Mubadala, which invests on behalf of the Abu Dhabi government, continues to expand its portfolio in sectors including health care and life sciences. In August, Mubadala, in partnership with CBC Group, acquired UCB Pharma's unit in China to expand its healthcare portfolio.
Last year, Mubadala and the UAE's artificial intelligence company G42 launched M42, a “tech-enabled” healthcare company designed to advance medical research and capabilities in Abu Dhabi. M42 was formed through a merger between the healthcare units of Mubadala and G42 that was first announced in October 2022.
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.
Mubadala has assets worth $302 billion spanning six continents.
"The acquisition of four GHH assets by Kelix bio significantly enhances the UAE's local life sciences capabilities through strategic investments," it said. "This move aligns with government initiatives such as Operation 300bn and Make it in the Emirates, which aim to strengthen the country's manufacturing sector."
As part of the Operation 300bn strategy, the UAE plans to increase the industrial sector's contribution to the country's gross domestic product to Dh300 billion ($81.68 billion) by 2031, from Dh133 billion in 2021. The UAE, the Arab world's second-largest economy, is also encouraging companies to manufacture products locally through the Make it in the Emirates initiative.
The bio
Job: Coder, website designer and chief executive, Trinet solutions
School: Year 8 pupil at Elite English School in Abu Hail, Deira
Role Models: Mark Zuckerberg and Elon Musk
Dream City: San Francisco
Hometown: Dubai
City of birth: Thiruvilla, Kerala
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
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Pari
Produced by: Clean Slate Films (Anushka Sharma, Karnesh Sharma) & KriArj Entertainment
Director: Prosit Roy
Starring: Anushka Sharma, Parambrata Chattopadhyay, Ritabhari Chakraborty, Rajat Kapoor, Mansi Multani
Three stars
KEY%20DATES%20IN%20AMAZON'S%20HISTORY
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Key Points
- Protests against President Omar Al Bashir enter their sixth day
- Reports of President Bashir's resignation and arrests of senior government officials
ALL THE RESULTS
Bantamweight
Siyovush Gulmomdov (TJK) bt Rey Nacionales (PHI) by decision.
Lightweight
Alexandru Chitoran (ROU) bt Hussein Fakhir Abed (SYR) by submission.
Catch 74kg
Omar Hussein (JOR) bt Tohir Zhuraev (TJK) by decision.
Strawweight (Female)
Seo Ye-dam (KOR) bt Weronika Zygmunt (POL) by decision.
Featherweight
Kaan Ofli (TUR) bt Walid Laidi (ALG) by TKO.
Lightweight
Abdulla Al Bousheiri (KUW) bt Leandro Martins (BRA) by TKO.
Welterweight
Ahmad Labban (LEB) bt Sofiane Benchohra (ALG) by TKO.
Bantamweight
Jaures Dea (CAM) v Nawras Abzakh (JOR) no contest.
Lightweight
Mohammed Yahya (UAE) bt Glen Ranillo (PHI) by TKO round 1.
Lightweight
Alan Omer (GER) bt Aidan Aguilera (AUS) by TKO round 1.
Welterweight
Mounir Lazzez (TUN) bt Sasha Palatkinov (HKG) by TKO round 1.
Featherweight title bout
Romando Dy (PHI) v Lee Do-gyeom (KOR) by KO round 1.
ELECTION%20RESULTS
%3Cp%3EMacron%E2%80%99s%20Ensemble%20group%20won%20245%20seats.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EThe%20second-largest%20group%20in%20parliament%20is%20Nupes%2C%20a%20leftist%20coalition%20led%20by%20Jean-Luc%20Melenchon%2C%20which%20gets%20131%20lawmakers.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EThe%20far-right%20National%20Rally%20fared%20much%20better%20than%20expected%20with%2089%20seats.%3C%2Fp%3E%0A%3Cp%3EThe%20centre-right%20Republicans%20and%20their%20allies%20took%2061.%3C%2Fp%3E%0A
Indoor Cricket World Cup Dubai 2017
Venue Insportz, Dubai; Admission Free
Fixtures - Open Men 2pm: India v New Zealand, Malaysia v UAE, Singapore v South Africa, Sri Lanka v England; 8pm: Australia v Singapore, India v Sri Lanka, England v Malaysia, New Zealand v South Africa
Fixtures - Open Women Noon: New Zealand v England, UAE v Australia; 6pm: England v South Africa, New Zealand v Australia
MATCH INFO
Juventus 1 (Dybala 45')
Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')
Red card: Rodrigo Bentancur (Juventus)
The specs
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Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
The chef's advice
Troy Payne, head chef at Abu Dhabi’s newest healthy eatery Sanderson’s in Al Seef Resort & Spa, says singles need to change their mindset about how they approach the supermarket.
“They feel like they can’t buy one cucumber,” he says. “But I can walk into a shop – I feed two people at home – and I’ll walk into a shop and I buy one cucumber, I’ll buy one onion.”
Mr Payne asks for the sticker to be placed directly on each item, rather than face the temptation of filling one of the two-kilogram capacity plastic bags on offer.
The chef also advises singletons not get too hung up on “organic”, particularly high-priced varieties that have been flown in from far-flung locales. Local produce is often grown sustainably, and far cheaper, he says.
