UCB Group is selling Kremers Urban Pharmaceuticals, to two private equity firms, Advent International and Avista Capital Partners, for $1.525 billion.

Kremers Urban is UCB’s US-based specialty generic subsidiary.

As part of the deal, UCB will receive gross cash proceeds of $1.525 billion.

The company indicates it will use the money to cut debt and increase its strategic investment and strengthen its research and development pipeline.

For further deal information visit Current Agreements (subscription required)

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