UAE’s Mubadala Buys Pharmaceutical Firm KELIX bio

UAE’s Mubadala Buys Pharmaceutical Firm KELIX bio
Photo: unsplash.com 27.03.2024 237

The acquisition is expected to further strengthen the development of the UAE’s life sciences ecosystem.

Mubadala Investment Company announced entering into a definitive agreement to acquire KELIX bio, a specialty pharmaceutical business focused on delivering complex generics across emerging markets.

The acquisition is expected to further strengthen the development of the UAE’s life sciences ecosystem and enhance the position of the country in the life sciences sector globally, besides supporting the diversification of the UAE economy.

✔️ KELIX bio, set up in November 2020, has acquired manufacturing businesses in India, Egypt, Malta and Morocco successfully commercialising a broad range of oral and injectable formulations covering diverse therapy areas including diabetes, oncology, cardiology, and central nervous systems.

Its revenues now exceed $150m and the critical medicines it produces are available in over 50 countries across Africa, Latin America, Southeast Asia and the Middle East.

✔️ Mubadala Investment Company is a is a leading global sovereign investor headquartered in Abu Dhabi. 

With KELIX bio specialising in relevant therapy areas and a leadership team experienced in successful buy-and-build strategies globally, the move aligns with Mubadala’s goal to position the UAE prominently in the global life sciences sector.

Dr. Bakheet Al Katheeri, Chief Executive Officer of Mubadala’s UAE Investments Platform, said this partnership marks a key milestone in further advancing Mubadala’s position in the life sciences sector.

“This is also expected to deliver important long-term socio-economic returns for our nation including improved healthcare, drug security, job creation and GDP impact,” 

he said.

Hocine Sidi-Said, co-founder, and Chief Executive Officer at KELIX bio, said with Mubadala’s acquisition of KELIX bio, the company will now embark into an exciting journey that promises to deliver not only economic returns but also cause a durable societal impact in the UAE.

“We are excited to augment the manufacturing capabilities of the nation and drive an innovation agenda in diabetes, oncology, and biologics to name a few,” 

he said.

Prior to Mubadala’s acquisition, KELIX bio was held by a consortium of investors including Development Partners International (DPI), British International Investment (BII), the UK’s development finance institution and impact investor, and the European Bank for Reconstruction and Development (EBRD).

The transaction's completion is subject to customary regulatory approvals.

Source: Arabian Business

pharmaceutical markets  UAE 

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