UCB completes US $680M divestment of neurology and allergy portfolio in China

BELGIUM – UCB, a leading global biopharmaceutical company, has finalized the sale, divestment, and licensing of its mature neurology and allergy portfolio in China.

The transaction, valued at US $680 million, transfers key products—including Keppra, Vimpat, Neupro, Zyrtec, and Xyzal—along with UCB’s Zhuhai manufacturing facility.

These assets are being acquired by NeuroGen Pharma, a newly established CNS-focused company created by CBC Group, Asia’s largest healthcare-focused asset management firm, and Mubadala Investment Company, based in Abu Dhabi.

The transition ensures continued reliable access to these trusted treatments for patients in China, building on the strong foundation laid by UCB’s China team. The portfolio’s combined net sales in China reached €131 million (US $137.67) in 2023.

Details of the transaction

The completion of the deal followed necessary approvals, including anti-trust clearance, and does not impact UCB’s 2024 financial guidance.

For 2025, UCB expects a marginal dilution of its adjusted EBITDA margin, which remains at the low end of the low-to-mid-thirties range as a percentage of revenue.

Financial guidance for 2025 will be provided on February 27, 2025. Lazard served as UCB’s financial advisor, while Freshfields Bruckhaus Deringer acted as legal counsel for the transaction.

UCB partners with BioRay to focus on novel therapies in China

In tandem with this divestment, UCB is shifting its strategic focus in China to introducing innovative therapies that address unmet medical needs.

This includes a new partnership with BioRay, a locally-based biopharma leader specializing in autoimmune diseases.

As part of the agreement, BioRay will oversee the commercialization of Bimzelx, UCB’s innovative treatment for ankylosing spondylitis (AS), which received approval from China’s National Medical Products Administration (NMPA) in July 2024.

Additionally, Bimzelx gained regulatory approval in September 2024 for the treatment of non-radiographic axial spondyloarthritis (nr-axSpA), further expanding its therapeutic reach.

With 13 years of biologics manufacturing experience, four R&D centers across China and the U.S., and a pipeline of 20 products, BioRay is well-positioned to bring Bimzelx to Chinese patients.

Statements from leadership

Jean-Christophe Tellier, CEO of UCB, emphasized the importance of innovation:

“UCB has been committed to improving the lives of Chinese patients for nearly three decades. This agreement allows us to focus on bringing new, impactful therapies to the market through strong partnerships.”

Dr. Wang Haibin, CEO of BioRay, added: “We are thrilled to collaborate with UCB, a global leader in immunological medicines. Bimzelx is an innovative product addressing a critical need, and together, we aim to meet the growing demand of millions of patients in China.”

This dual strategy enables UCB to sustain its commitment to Chinese healthcare—ensuring ongoing access to mature treatments while expanding the reach of its cutting-edge therapies through partnerships.