UCB has agreed to sell its UCB business and affiliates in selected emerging markets to GlaxoSmithKline for $670 million in cash. The transaction is expected to close in 1Q09. The commercial operations and product distribution rights acquired by GSK represents approximately 3-4% of UCB's 2008 expected revenue of approximately $4.3 billion.
The agreement includes more than 50 UCB operations in the Far East, Middle East, Latin America and Africa, and covers all currently marketed UCB products and staff in these regions. This agreement does not include among other countries: Brazil, Russia, India, China, South Korea or Mexico, which UCB considers as "strategic emerging markets". The agreement doesn't include UCB's new core products such as Vimpat (lacosamide), Neupro (rotigotine), Cimzia (certolizumab pegol), or the rights to any of UCB's R&D pipeline programs.
"This is a win-win agreement", said Roch Doliveux, chief executive officer of UCB. "Consistent with our core strategies, UCB focuses on its core areas while GSK acquires assets which fit with its growth and diversification strategy. UCB will continue to strengthen its core indication areas CNS and immunology and its presence in its key strategic markets to bringing new medicines to patients who suffer from serious diseases."
Last year, UCB launched a strategic global project designed to focus on the indication areas of the central nervous system (CNS) and immunology while strengthening its presence in core strategic markets, including the U.S., Europe, Japan, other emerging and international markets.