Mubadala Buys GlobalOne Healthcare Holding’s Pharma Assets

Strengthening its new speciality pharmaceutical business, Mubadala Investment Company on Monday said that it has fully acquired four pharma assets of of GlobalOne Healthcare Holding (GHH), Bioventure, Bioventure Healthcare, Gulf Inject and Wellpharma.

GHH is the dedicated Healthcare Division of Yas Holding, focusing on enhancing healthcare outcomes by investing in biopharmaceuticals and healthcare services.

This strategic move, which comes close after taking over Kelix bio, consolidates Mubadala’s presence in the life sciences ecosystem, advances the UAE’s life sciences sector, and positions the nation as a global industry leader while supporting economic diversification.

The acquisition of four GHH assets by KELIX Bio significantly enhances the UAE’s local life sciences capabilities through strategic investments. This move aligns with government initiatives such as ‘Operation 300bn’ and ‘Make it in the Emirates’, which aim to strengthen the country’s manufacturing sector.

These acquisitions advance Mubadala’s efforts to establish a national pharma champion based in Abu Dhabi. They enhance the UAE’s pharmaceutical infrastructure, address prevalent diseases, secure drug supply, reduce healthcare costs, and progress the nation toward a knowledge-based economy.

In March 2024, Mubadala entered into an agreement to acquire KELIX bio, a specialty pharmaceutical business focused on delivering complex generics across emerging markets, which was completed last month.

GHH’s pharma assets include cutting-edge biopharma and IV solutions manufacturing. Integrating these assets into KELIX bio’s ecosystem significantly advances their expanded capabilities. Each asset brings unique strengths to the portfolio.

Supporting UAE’s K-based Economy

Dr Bakheet Al Katheeri, CEO of UAE Investments Platform at Mubadala, said that the completion of the KELIX bio acquisition and this subsequent transaction demonstrated Mubadala’s commitment to building a thriving life sciences sector in the UAE and supporting the Emirates’ ambition for a knowledge-based economy.

He added: “We continue to seek partnerships and investments that align with our strategic goals, as we aim to generate value for our stakeholders while strengthening the UAE’s position in this critical global industry. KELIX bio and its assets are well positioned for accelerated growth and will enable us to deliver on our ambition of creating a regional life sciences champion.”

Ismail Ali Abdulla, Head of UAE Clusters, at Mubadala’s UAE Investments Platform, said that the latest acquisition reinforced their strategic intent to position the UAE at the forefront of the life sciences ecosystem on a global scale.

“Being a responsible investor we continue to nurture future-centric solutions that boost our nation’s GDP, increase job creation, foster innovation, and strengthen medical security, shaping the future of our communities with lasting impact,” he said.

KELIX bio CEO Hocine Sidi Said said that the acquisition of GHH assets considerably strengthened their presence in the UAE and provided them access to a greater pipeline of products and technologies. Bringing these businesses and their colleagues into the KELIX bio network is exciting as it accelerates our path to becoming a global life science leader.

Yas Holding Group CEO Low Ping said that divesting these subsidiaries to KELIX bio marks a strategic pivot for Yas Holding and the decision aligned with their commitment to enhancing healthcare access and innovation across the region.

“We are confident that under KELIX bio’s stewardship, the four pharmas will continue to thrive and contribute significantly to the healthcare landscape. We look forward to witnessing their continued growth and the positive impact they will have on the life science sector at large,” Ping said.