UCB buys majority stake in local drugmaker to expand in Brazil
Belgium’s leading pharma company UCB (Euronext Brussels: UCB) says it has signed an agreement to acquire a 51% stake in Meizler Biopharma, a privately-owned Brazilian drugmaker, creating Meizler UCB Biopharma SA.
Although the companies have agreed to not disclose financial terms, UCB says that the transaction foresees performance-related milestone payments in the coming years as well as an option to purchase the remaining 49% later in time.
"Our strategic partnership in Brazil with Meizler Biopharma is part of UCB’s growth strategy. UCB’s decision to partner with Meizler Biopharma relies especially on their local infrastructure, Avi Meizler's [founder of the Brazilian company] and his team's experience and excellent reputation", says Roch Doliveux, chief executive of UCB.
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