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Business
UCB Generics Go To Private Equity
by Michael McCoy
November 17, 2014
| A version of this story appeared in
Volume 92, Issue 46
The Belgian drugmaker UCB has agreed to sell its U.S. generic drugs subsidiary, Kremers Urban Pharmaceuticals (KU), to two private equity firms, Advent International and Avista Capital Partners, for $1.525 billion. UCB CEO Roch Doliveux calls the planned sale another step in the firm’s strategy to focus on innovative neurology and immunology drugs. With annual sales of about $475 million and more than 600 employees, KU manufactures difficult-to-formulate generics in Seymour, Ind., according to UCB.
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