The big biotech giant UCB has expanded its presence in the emerging markets by acquiring a majority stake in Brazilian drugmaker Meizler Biopharma.
The Belgian group is taking an initial 51% stake in the privately-owned Sao Paulo-headquartered company.
Under the terms of the deal, the financial details for which have not been disclosed, Meizler’s owners are entitled to performance-related milestone payments and UCB has an option to purchase the remaining 49% at some stage in the future.
Meizler, which was founded in 1990 and has 130 employees, sells in-licensed specialty products which cover different therapeutic categories, including central nervous system and immunology treatments, UCB’s main areas of expertise.
A profitable entity, sales last year topped 36 million euros.
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