Skip to content Skip to Search
Skip navigation

Mubadala to buy pharma company Kelix Bio

The acquisition of Kelix bio is set to boost the UAE’s global standing in life sciences, said Mubadala Kelix Bio
The acquisition of Kelix bio is set to boost the UAE’s global standing in life sciences, said Mubadala

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.



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.

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.

Latest articles

reducing inflation Egypt Mohamed Maait finance minister

Reducing inflation is Egypt’s top priority, says minister

Reducing inflation in Egypt to align with the central bank’s target is the government’s main priority, the country’s finance minister, Mohamed Maait, has announced. Inflation in Egypt fell to 33 percent in March from 38 percent in September, passing the central bank’s target range of a 5 to 9 percentage point fall. Maait, speaking at […]

The Khazna facility will raise utility Ewec’s total installed solar PV capacity to 5.5 gigawatts

Developers sought for Abu Dhabi’s Khazna solar plant

Emirates Water and Electricity Company (Ewec) is seeking developers to build a 1,500 megawatt solar power facility in Abu Dhabi as the emirate ramps up its green energy drive. The utility has issued a request for proposals to qualified companies that have expressed interest in developing the Khazna Solar Photovoltaic project. A total of 27 […]

Turkey textiles

Hit by rising costs, Turkey’s textile producers move overseas

Textile manufacturers in Turkey, struggling with pricing pressures and labour costs, are moving their operations overseas, although at least some in the sector see a turnaround by the year’s end. The Istanbul Chamber of Industry sectoral purchasing managers’ index for March showed sentiment among textile manufacturers was the lowest among the 10 sectors covered by […]

Mubadala-backed Getir weighs asset sales

Turkey’s grocery delivery startup Getir is considering asset sales as part of its ongoing restructuring talks, according to a media report. The company, operating in five markets, including the UK, aims to sell off assets such as US online grocer FreshDirect, acquired last year, and BiTaksi, a ride-hailing app in Turkey, Sky News reported, citing unnamed […]