Mubadala KELIX Bio Expands Global Presence with Four Acquisitions

Following the successful acquisition of KELIX Bio, Mubadala Investment Company PJSC “Mubadala”, Abu Dhabi’s sovereign investment arm, has bolstered its pharmaceutical business by securing a 100% stake in four assets from GlobalOne Healthcare Holding (GHH). These include Bioventure, Bioventure Healthcare, Gulf Inject, and Wellpharma. This strategic integration reinforces Mubadala’s commitment to advancing the UAE's life sciences sector, fostering economic diversification, and positioning the nation as a global leader in the pharmaceutical industry.

Expanding Mubadala’s Reach Through KELIX Bio

In March 2024, Mubadala finalized a definitive agreement to acquire KELIX Bio, a speciality pharmaceutical company focused on developing and distributing complex generics across emerging markets. The acquisition was officially completed in September 2024, marking a significant milestone in Mubadala’s expansion strategy.

Integrating GHH’s Pharma Assets into KELIX Bio

The four acquired pharmaceutical companies bring specialized expertise to KELIX Bio's growing ecosystem. This integration enhances KELIX Bio’s capacity and diversifies its offerings with cutting-edge solutions. Each asset contributes distinct strengths to the portfolio:

> Bioventure: A UAE-based biopharmaceutical leader with a global footprint, focusing on biotechnology commercialization, complex generics, and technology transfers, alongside licensing activities.

> Bioventure Healthcare: Renowned as the region’s top manufacturer of soft gelatin capsules for pharmaceutical and nutritional supplements, now expanding into oral solids and injectable medicines.

> Gulf Inject: Specialized in sterile fluid management and parenteral therapy, delivering innovative healthcare manufacturing solutions.

> Wellpharma: A market leader in producing intravenous therapies (IV) and dialysis solutions across the UAE and the broader MENA region.

Dr. Bakheet Al Katheeri, Chief Executive Officer of UAE Investments Platform at Mubadala, stated: “The rapid completion of the KELIX Bio acquisition and this subsequent transaction demonstrate our commitment to building a thriving life sciences sector in the UAE and supporting our nation’s ambition for a knowledge-based economy. 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: “This acquisition reinforces our strategic intent to position the UAE at the forefront of the life sciences ecosystem on a global scale. It contributes to our nation’s economic diversification, creates valuable socio-economic returns, and reaffirms Mubadala’s ambitions within the sector.”

He added: “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.”

Hocine Sidi Said, CEO of KELIX Bio added: “The acquisition of GHH assets considerably strengthens our presence in the UAE and provides us 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.”

Low Ping, Group CEO Yas Holding commented: “Divesting these subsidiaries to KELIX Bio marks a strategic pivot for Yas Holding. This decision aligns with our commitment to enhancing healthcare access and innovation across the region. We are confident that under KELIX Bio's stewardship, Wellpharma, Gulf Inject, Bioventure Healthcare, and Bioventure 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."

Advancing the UAE’s Life Sciences Sector

The acquisition of GHH’s assets enhances the UAE’s local pharmaceutical manufacturing capabilities and aligns with national economic initiatives. This move complements the UAE’s Operation 300bn and Make it in the Emirates programs, both of which aim to bolster the industrial and manufacturing sectors. By building a robust pharmaceutical ecosystem, Mubadala strengthens Abu Dhabi’s role as a regional hub for healthcare innovation.

Strategic Impact on Healthcare and Economic Diversification

Mubadala’s expanded pharmaceutical portfolio supports the UAE’s goal of becoming a knowledge-based economy. These strategic investments help address key healthcare challenges, reduce dependency on imported drugs, and lower healthcare costs. Additionally, the acquisitions secure a stable drug supply chain and enhance the nation's capacity to respond to prevalent diseases in the region.

Mubadala’s latest acquisition demonstrates its commitment to transforming the UAE’s pharmaceutical landscape, creating a foundation for sustainable economic growth, and elevating the country’s global competitiveness in healthcare innovation.