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Mubadala Acquires Kelix Bio a Specialist in the Pharmaceutical Field

Abu Dhabi is witnessing a significant strategic step in the healthcare sector with the announcement by Mubadala Investment Company, the sovereign investment arm of Abu Dhabi, about signing an agreement to incorporate Kelix Bio, a leader in providing advanced generic medicines in emerging markets, into its portfolio. This merger is part of the country’s initiatives to support and develop the pharmaceutical industry ecosystem in the UAE, with the aim of establishing the country’s position as a global leader in the pharmaceutical and biotechnology sectors, as well as enhancing economic diversification.

Kelix Bio, founded in November 2020, has expanded through the acquisition of pharmaceutical manufacturing companies in India, Egypt, Malta, and Morocco, thereby offering a diverse range of medications, both oral and injectable, for treating various diseases such as diabetes, cancer, heart disease, and neurological disorders.

The acquisition is expected to enhance the UAE’s position as a global center for pharmaceutical and biotechnology industry, benefiting from Kelix Bio’s expertise and its leadership team’s ability in executing successful acquisition and global growth strategies. This merger aligns with Mubadala’s goals to elevate the UAE’s status in the global pharmaceutical and biotechnology sector.

On this occasion, Dr. Bakheet Al Katheeri, CEO of Emirates Investment Sector at Mubadala, expressed that this acquisition aligns with the company’s strategy as a responsible investor, emphasizing Mubadala’s role in accelerating economic transformation in the UAE through national investments. He noted that investing in Kelix Bio is an important step in enhancing Mubadala’s presence in the pharmaceutical sector, which will benefit the UAE economically and socially in the long term, by improving healthcare services, ensuring pharmaceutical security, creating jobs, and contributing to the gross domestic product.

Ismail Ali Abdullah, Head of Strategic Clusters Unit at Mubadala, affirmed the institution’s commitment to enhancing the development of strategic clusters that serve the community through healthcare investments. By improving local capabilities for producing essential medicines through Kelix Bio, the aim is to significantly enhance the healthcare infrastructure in the UAE, thereby providing wider access to necessary treatments in the region. This investment highlights Mubadala’s role as a responsible investor, committed to investing in solutions to urgent global challenges.

Meanwhile, Hussain Sidi Said, Co-founder and CEO of Kelix Bio, expressed gratitude to the former shareholders for their trust and support of the company’s ambitious strategy. Joining Mubadala marks a new promising chapter, with expectations of achieving economic success and a positive social impact in the UAE. Said looks forward to expanding the UAE’s manufacturing capabilities and fostering innovation in areas such as diabetes, oncology, and biologic medicines.

Historically, the UAE has seen high rates of non-communicable diseases such as heart disease, cancer, and diabetes. The country has largely depended on medicine imports to meet healthcare needs. Mubadala’s acquisition of Kelix Bio is a strategic step to strengthen national capabilities in the biosciences field, by encouraging innovation, enhancing manufacturing partnerships, and improving pharmaceutical capabilities on a regional level.

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