Mubadala to buy pharma company Kelix Bio

Kelix Bio

Abu Dhabi’s Mubadala Investment Company has signed a definitive agreement to acquire Kelix Bio, a specialty pharmaceutical business in the UAE that focuses on delivering complex generics across emerging markets.

The Kelix Bio acquisition is set to boost the UAE’s global standing in life sciences, state-own Abu Dhabi Media Office reported, quoting a Mubadala statement.

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The stake was purchased from a consortium of investors, including Development Partners International, the UK’s development finance institution and impact investor British International Investment, and the European Bank for Reconstruction and Development.

No financial details were shared. The transaction is subject to regulatory approvals.

Kelix Bio was founded in November 2020 and has since acquired manufacturing businesses in India, Egypt, Malta and Morocco.

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It has commercialised a wide range of oral and injectable formulations for diverse therapy areas, including diabetes, oncology, cardiology and central nervous systems.

Dr Bakheet Al Katheeri, CEO of Mubadala’s UAE Investments Platform, said the purchase would advance Mubadala’s position in the life sciences sector and deliver long-term socio-economic returns, including improved healthcare, drug security, job creation and GDP impact.

According to research from investment banking advisory firm Alpen Capital, healthcare spending in the GCC region is set to reach $135.5 billion in 2027, implying annual growth of 5 percent from $104 billion last year.