UCB (Euronext Brussels: UCB) and Meizler Biopharma, a privately-owned Brazilian pharmaceutical company, have signed an agreement by which UCB acquires 51% of Meizler Biopharma. The agreement foresees performance related milestone payments in the coming years as well as an option to purchase the remaining 49% later in time. The parties have agreed not to disclose further details pertaining to financial elements of the transaction.
"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 and his team's experience and excellent reputation," says Roch Doliveux, CEO of UCB." Brazil is one of UCB's key markets in which the company did not have a direct presence yet. It is currently the 7th largest biopharmaceutical market world-wide and is growing fast. With Meizler Biopharma, we look forward to building our presence in this region, creating a platform to launch UCB's new products and making our medicines available to more patients."
Avi Meizler, the founder, CEO and principle shareholder of Meizler Biopharma, says: "We are very happy with our new partner UCB which strengthens Meizler Biopharma and brings the advantages of a global biopharmaceutical leader including a strong R&D pipeline of potential new products. Knowledge and expertise sharing between our teams will create a platform for growth to the benefits of patients living with severe diseases."
Meizler Biopharma is a privately-held Brazilian pharmaceutical company founded in 1990. With a team of about 130 employees, it commercializes a portfolio of in-licensed specialty products on the Brazilian market; the products cover different therapeutic areas, among which central nervous system and immunology. In 2011, the profitable and growing company had revenues in excess of 36 million euros.
As part of the partnership, UCB will bring parts of its mature and new medicines into Meizler Biopharma's portfolio for commercialization in Brazil. UCB will fully consolidate Meizler Biopharma financial results under the international accounting rules IFRS.
About Meizler Biopharma
Founded in 1990 with the objective of promoting the development of health in Brazil, Meizler Biopharma specializes in and acquisition of new drugs and existing partnerships with the world's leading pharmaceutical biotech and device doctors. Aimed at public and private institutions, hospitals and clinics, Meizler Biopharma has full-service warehousing and distribution, dynamically structured to meet quickly, increasing government demand for high technology products and affordable prices.
About UCB
UCB, Brussels, Belgium is a global biopharmaceutical company focused on the discovery and development of innovative medicines and solutions to transform the lives of people living with severe diseases of the immune system or of the central nervous system. With more than 8,000 people in about 40 countries, the company generated revenue of EUR 3.2 billion in 2011. UCB is listed on Euronext Brussels (symbol: UCB).