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UCB has agreed with GlaxoSmithKline (GSK), to sell current UCB business and UCB affiliates in selected emerging markets for a cash compensation of €515 million upon closing of the transaction expected in late March 2009.
The commercial operations and product distribution rights to be acquired by GSK represent approximately 3-4% of UCB’s 2008 expected revenue of at least €3.3 billion.
The agreement includes more than 50 UCB operations in the following geographic regions: Far-East, Middle-East, Latin America and Africa. This agreement does not include among other countries: Brazil, Russia, India, China, South-Korea or Mexico which are considered by UCB as strategic emerging markets.
The agreement covers principally all currently marketed UCB products and staff in the regions mentioned above. It does not include UCB’s new core products such as Vimpat (lacosamide), Neupro (rotigotine), Cimzia (certolizumab pegol), nor does it provide rights to any of UCB’s research & development pipeline programmes.
“This is a win-win agreement”, said Roch Doliveux, CEO of UCB.
“Consistent with our core strategies outlined by the SHAPE programme, 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.”
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