Belgian pharma company UCB announced the sale of its mature neurology and allergy business in China to health care asset management firm CBC Group and Mubadala Investment Company for $680 million.
The divestment includes well-known products such as Keppra, Vimpat, Neupro, Zyrtec, Xyzal, and UCB’s manufacturing site in Zhuhai, China.
CBC Group and Mubadala will take over UCB’s neurology and allergy business, aiming to expand their presence and enhance patient care in China. The deal is part of UCB's broader strategy to drive long-term growth by focusing on innovation.
The transaction, expected to close in Q4 2024 pending regulatory approvals, will not affect UCB’s 2024 financial guidance, but the company anticipates a slight impact on its 2025 financial margin.