UCB, a global biopharmaceutical company, has announced a strategic divestment of its mature neurology and allergy business in China to CBC Group and Mubadala, a healthcare-focused asset management group and Abu Dhabi-based investment company, respectively. The transaction is valued at $680 million.
 
This move aligns with UCB’s strategy to shift its focus toward innovation and partnerships in the rapidly growing Chinese pharmaceutical market. The divested portfolio includes established brands like Keppra, Vimpat, Neupro, Zyrtec, and Xyzal, along with the Zhuhai manufacturing site.
 
UCB is now concentrating on its late-stage pipeline and plans to launch several new products globally. The company believes this strategic shift will drive significant growth in the coming years. 
 
“In the short term, UCB is exploring the launch of novel medicines in immunology, neurology, and rare diseases in China,” stated Jean-Christophe Tellier, CEO at UCB. “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.”
 
Concerning the agreement, Jean-Christophe also said: “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.”
 
The divested business generated net sales of 131 million euros in 2023. UCB expects the transaction to close in the fourth quarter of 2024, subject to regulatory approvals.