Belgium's UCB sells China neurology and allergy business for $680 million
PARIS, Aug 26 (Reuters) -Belgian biopharmaceutical group UCB said in a statement it had agreed to sell its neurology and allergy business in China to Asian healthcare-dedicated asset management group CBC and Abu Dhabi-based investment company Mubadala for an amount of $680 million.
UCB said the assets were a mature business and that the deal was part of a strategic shift towards innovation and partnership in one of the world’s fastest-growing pharmaceutical markets, and that there would be no impact on UCB's financial guidance for 2024.
Reporting by Geert De Clercq, editing by Tassilo Hummel
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