UCB to pocket $1.5bn from generics business sale
This article was originally published in Scrip
Belgian pharma group UCB is to sell its US specialty generics business Kremers Urban Pharmaceuticals (KU) for $1.525bn in cash. Private equity companies Advent International and Avista Capital Partners are acquiring the business; Avista healthcare industry executive Brian Markison will become president and CEO of KU, succeeding George Stevenson, who will leave. Mr Markison was previously CEO of Fougera Pharmaceuticals, a dermatology company that was spun off from Nycomed in 2011 and sold to Sandoz in 2012.