Acquisition includes antiallergy medicines Zyrtec and Xyzal
Deal expected to close in fourth quarter
UCB to focus on innovation and partnerships

PARISSINGAPORE, Aug 26 Reuters UCB, a Belgian biopharmaceutical firm, said on Monday it would sell its Chinese neurology and allergy business to Singaporebased asset management group CBC and Abu Dhabi sovereign investor Mubadala for 680 million.

The deal includes UCB39;s neurology portfolio comprising drugs like Keppra, Vimpat and Neupro, and antiallergy medicines Zyrtec and Xyzal, commonly used to treat watery eyes and runny noses.

The Brusselslisted firm will also sell a manufacturing site in Zhuhai city.

UCB said in a statement there would be no impact on its forecast for 2024 and the deal was expected to close in the fourth quarter.

In the short term, UCB is exploring the launch of novel medicines in immunology, neurology, and rare diseases in China, UCB CEO JeanChristophe Tellier said.

The deal will allow the company to focus its efforts on innovation and partnerships, ensuring its strategic goals align with the evolving demands of the Chinese market, it said.

Some of the biggest global drugmakers, undeterred by mounting SinoU.S. tensions, are scouring for deals in China to replenish drug pipelines and boost their presence in the world39;s secondbiggest pharmaceutical market, industry executives and investment bankers have said.

The demand for central nervous system products in China has been increasing over…