UCB to sell Kremers Urban to private equity for US$1.53bn

Published: 10-Nov-2014
Finance Pharmaceutical

Belgian company will focus on its core business in neurology and immunology

UCB is selling its US speciality generics business Kremers Urban to private equity firms Advent International and Avista Capital Partners for US$1.53bn.

Belgium-headquartered UCB plans to use the proceeds to reduce its debt and increase its investments to accelerate growth and strengthen its medicines pipeline.

The deal is expected to close during the first quarter of 2015.

'This is another step for UCB to enhance focus on our core business in neurology and immunology,' said Roch Doliveux, CEO of UCB.

Detlef Thielgen, Chief Financial Officer of UCB, added that Kremers Urban had been 'an important enabler to build UCB's core business'.

'It's now the right time from a value perspective to focus on our core business and to offer Kremers Urban further growth opportunities with two strong organisations that are well equipped to help Kremers Urban continue to grow.'

  • Companies:
  • UCB
See more

You may also like

Ingredients

Therapeutics: rozanolixizumab for primary immune thrombocytopenia

Read more
Primary immune thrombocytopenia (ITP) is a rare acquired autoimmune disorder. Most patients have pathogenic IgG autoantibodies that target platelets and their precursor megakaryocytes

Trending Articles

  1. Ivan Gergel becomes SVP, Drug Development & Chief Medical Officer at Nektar Therapeutics Joins the company from Endo Pharmaceuticals
  2. Indian government bans three medicines owing to health risks Decision follows strong stand on suspending marketing of all drugs prohibited for sale in other countries, including the US, UK, EU and Australia
  3. The colouration of tablets and capsules Paul Smith from Sensient Pharmaceutical Technologies discusses the use of colour in solid oral dosage forms
  4. You need to be a subscriber to read this article.
    Click here to find out more.
    Particle size reduction strategies to improve drug performance Micronisation, using fluid energy jet mills to reduce particle size, has been around since the 1960s and utilised by various different industries because it effectively produces micron-sized particles with narrow size distributions, offers a low or negligible risk of contamination and generates no heat during processing
  5. Thermo Fisher scientific launches iCAP MX series ICP-MS for trace elemental analysis New platform simplifies analysis while enhancing productivity and accuracy

Upcoming event

CPhI India

26–28 November 2024 | Online Conference & Networking | Delhi, India See all

You may also like

Ingredients

Therapeutics: rozanolixizumab for primary immune thrombocytopenia

Primary immune thrombocytopenia (ITP) is a rare acquired autoimmune disorder. Most patients have pathogenic IgG autoantibodies that target platelets and their precursor megakaryocytes
Packaging

Pharmapack Europe 2019 reveals winners

Award winners have been selected for innovation in delivery, dosage and packaging of pharmaceutical products
Pharmaceutical

Increasing competition in the psoriasis market

UCB, a global biopharmaceutical company, has potential to compete in the psoriasis market with Cimzia FDA approval, says GlobalData
Drug Delivery

UCB receives EMA approval for pre-filled pen using Bespak Technology

First disposable autoinjector for a biologic with Bespak technology to be approved by CHMP
Finance

Lannett to acquire Kremers Urban Pharmaceuticals for US$1.23bn

Lannett believes the acquisition will substantially increase and diversify its revenue base with profitable specialty products
Finance

Dr Reddy’s to buy allergies and respiratory franchises in India from UCB for €118m

Strengthens its presence in dermatology, respiratory and paediatrics medicines
Manufacturing

CPI-led UK biotech consortium secures £6.2m of government investment

Project aims to reduce the time it takes to bring biologics to market
Subscribe now