Press Release from the Competition Council regarding the concentration project involving the exclusive takeover of the companies “Kelix Bio Limited”, “Gulf Inject LLC”, “Bioventure FZ LLC”, “Bioventure Healthcare FZE”, “Wellpharma Medical Solutions”, and “Diabtec LLC,” by the company “Mubadala Investment Company”

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation as amended and supplemented, the Competition Council makes available to the public the “summary of the operation” below, containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law 104-12 on freedom of prices and competition.

Names of the companies and groups concerned:

• The acquirer: “Mubadala Investment Company”;
• The targets:
  • “Kelix Bio Limited”;
  • “Gulf Inject LLC”;
  • “Bioventure FZ LLC”;
  • “Bioventure Healthcare FZE”;
  • “Wellpharma Medical Solutions”;
  • “Diabtec LLC”.

Nature of the operation

• Exclusive takeover.

Economic sectors concerned

• The market for the development, production, and distribution of medicines.

Deadline for interested third parties to submit their observations

– 10 days from the date of publication of this press release, i.e., April 15, 2024.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration operation concerning the exclusive takeover of the companies “Kelix Bio Limited”, “Gulf Inject LLC”, “Bioventure FZ LLC”, “Bioventure Healthcare FZE”, “Wellpharma Medical Solutions”, and “Diabtec LLC” by the company “Mubadala Investment Company”.

The proposed operation involves the acquisition by the company “Mubadala Investment Company PJSC”, through its subsidiary “MIC UAE Investments 1 RSC Limited”, of 100% of the shares of the company “Kelix Bio Limited”. Following this acquisition, “Kelix” (through a wholly-owned subsidiary) intends to acquire 100% of the shares of the companies “Gulf Inject LLC”, “Bioventure FZ LLC”, “Bioventure Healthcare FZE”, “WellPharma Medical Solutions”, and “Diabtec LLC”.

“MIC UAE” is a 100% indirect subsidiary of the company “Mubadala”, established in the Emirate of Abu Dhabi. “Mubadala” invests in a wide range of private and listed asset categories.

“Kelix” is a British biopharmaceutical company active in emerging markets and based in the UAE, targeting significant, rapidly growing, and differentiated therapeutic areas through innovation and cost-effectiveness. It focuses on therapeutic areas and product forms with high demand and growth potential, such as oncology, diabetes, respiratory diseases, inhalers, injectable products, and biosimilars.

The companies “Gulf Inject LLC”, “Bioventure FZ LLC”, “Bioventure Healthcare FZE”, “WellPharma Medical Solutions”, and “Diabtec LLC” are UAE-based companies operating in the health and pharmaceutical sectors.

Done in Rabat on April 4, 2024.