UCB, a Belgium-based biopharmaceutical company listed on the Brussels Stock Exchange (FRA: UNC), has announced the signing of a definitive agreement to divest its established neurology and allergy business in China. The transaction involves the sale to two prominent investment firms, the Singapore-based CBC Group and the Abu Dhabi-based Mubadala, for a total consideration of USD 680 million. This significant deal includes the sale of five branded pharmaceutical products and UCB’s manufacturing facility in Zhuhai, with the closing subject to customary conditions and anticipated to conclude in the fourth quarter of 2024.
The brands included in the sale are Keppra (levetiracetam) and Vimpat (lacosamide) for epilepsy, Zyrtex (cetirizine) and Xyzal (levocetirizine) for allergy treatment, and Neupro (rotigotine) for Parkinson’s disease. These products contributed sales of EUR 131 million (USD 146 million) in 2023. It is important to note that all drugs, with the exception of Neupro, have been integrated into China’s volume-based procurement (VBP) program.
UCB positions this strategic move as a pivotal step towards concentrating on innovative products and fostering local partnerships. CEO Jean-Christophe Tellier highlighted: “UCB is actively considering the introduction of new medicines in the fields of immunology, neurology, and rare diseases in China in the near term.” Post divestment, UCB will concentrate on two key products in the market: Bimzelx (bimekizumab), an anti-interleukin 17A (IL-17A) and anti-IL-17F for ankylosing spondylitis, which received approval earlier this year; and Cimzia (certolizumab pegol), initially approved in China in 2019 for the treatment of rheumatoid arthritis.
UCB’s pipeline for the China market also includes several products in late-stage development, such as the emergency epilepsy treatment Staccato alprazolam, the myasthenia gravis antibody Rystiggo (rozanolixizumab), and the lupus therapy LymphoCide (epratuzumab).- Flcube.com
