UCB expands in Brazil
Brussels (Belgium), Sao Paulo (Brazil), May 30, 2012 – 7 am (CEST) - regulated information –UCB (Euronext Brussels: UCB) and Meizler Biopharma, a privately-owned Brazilian pharmaceutical company, announced today that they 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.
For further information
Antje Witte, Investor Relations, UCB
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Laurent Schots, Media Relations, UCB
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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.
UCB, Brussels, Belgium (www.ucb.com) 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).
UCB Forward-Looking Statement
This press release contains forward-looking statements based on current plans, estimates and beliefs of management. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including estimates of revenues, operating margins, capital expenditures, cash, other financial information, expected legal, political, regulatory or clinical results and other such estimates and results. By their nature, such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions which could cause actual results to differ materially from those that may be implied by such forward-looking statements contained in this press release. Important factors that could result in such differences include: changes in general economic, business and competitive conditions, the inability to obtain necessary regulatory approvals or to obtain them on acceptable terms, costs associated with research and development, changes in the prospects for products in the pipeline or under development by UCB, effects of future judicial decisions or governmental investigations, product liability claims, challenges to patent protection for products or product candidates, changes in laws or regulations, exchange rate fluctuations, changes or uncertainties in tax laws or the administration of such laws and hiring and retention of its employees. UCB is providing this information as of the date of this press release and expressly disclaims any duty to update any information contained in this press release, either to confirm the actual results or to report a change in its expectations.
There is no guarantee that new product candidates in the pipeline will progress to product approval or that new indications for existing products will be developed and approved. Products or potential products which are the subject of partnerships, joint ventures or licensing collaborations may be subject to differences between the partners. Also, UCB or others could discover safety, side effects or manufacturing problems with its products after they are marketed.
Moreover, sales may be impacted by international and domestic trends toward managed care and health care cost containment and the reimbursement policies imposed by third-party payers as well as legislation affecting biopharmaceutical pricing and reimbursement.
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