Mubadala launches new pharma company with assets across three continents
Mubadala Investment Company, Abu Dhabi's strategic investment arm, has launched a new pharmaceuticals company, boosting the UAE's manufacturing sector and further positioning the Emirates' health care industry on the global stage. Mubadala Bio will have a manufacturing capacity of more than 2.5 billion tablets and capsules, and 120 million units of intravenous solutions and injectables, the company said in a statement on Monday. The company will serve more than 100 countries from 10 facilities across the Middle East, Africa, Asia and Europe – six of which are in the UAE – spread across more than 110,000 square metres, it said. 'By launching Mubadala Bio, we are taking a transformative step towards strengthening national drug security and fostering innovation in life sciences,' said Dr Bakheet Al Katheeri, chief executive of Mubadala's UAE Investments Platform. The move enables Mubadala to 'drive long-term economic growth, build a resilient life sciences ecosystem, and elevate Abu Dhabi's role in delivering impactful health solutions on a global scale', he added. The announcement came at this week's Make It In The Emirates summit in Abu Dhabi, which puts the spotlight on the domestic manufacturing scene and the steps being taken to support the sector. The latest deal comes as Mubadala, which invests on behalf of the Abu Dhabi government, continues to expand its portfolio in leading sectors including health care and life sciences. In December, Mubadala acquired an 80 per cent stake in Global Medical Supply Chain and Al Ittihad Drug Store from GlobalOne Healthcare Holding, and took a minority stake in US healthcare technology company Zelis, marking its largest deal in the healthcare sector. In October, Mubadala's Kelix bio unit bought four of GlobalOne Healthcare Holding's pharma assets in an effort to develop the UAE's life sciences ecosystem. In August, Mubadala, in partnership with CBC Group, acquired UCB Pharma's unit in China to expand its healthcare portfolio. Mubadala Bio is a 'major milestone in the UAE's journey towards global leadership in the life sciences industry', said Ismail Ali Abdulla, executive director of UAE Clusters at Mubadala's UAE Investments Platform. This month, Mubadala reported a 9.5 per cent increase in its 2024 asset base, driven by investments in future-focused sectors including artificial intelligence, health care and advanced manufacturing. Mubadala's total assets under management in 2024 reached Dh1.2 trillion ($326 billion), with annualised returns of 10.1 per cent over five years, it said.
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