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Q3 financial results show UCB is on track

Posted by
Antje Witte, Investor Relations
The first nine months of 2011 have seen the company turn in financial results in line with expectations. Things are on track. Once we have seen the generic erosion plateauing during the second half of 2012, we could experience a decade with no major patent loss, sustainable growth and an exciting pipeline coming to market.

Time flies. It’s hard to believe we’re talking about our third quarter results today but between being on the road to meet investors and watching our pilot BioPlant take shape in Braine there has barely been time to pause.

In fact we’re currently working on the concept for our 2011 annual report, which will be a little different to previous incarnations – more about that in a couple of weeks.

But I digress. Back to our Interim Report for the first nine months of the year: as expected our core medicines – Cimzia® (certolizumab pegol), Vimpat® (lacosamide) and Neupro® (rotigotine) – have performed well, with combined sales of €445 million.

Looking ahead based on the latest figures, we were able to update our financial outlook for 2011: total revenue is expected to exceed €3.1 billion, underlying profitability (rec. EBITDA) is expected to reach approximately €680 million and core EPS (earnings per share) should exceed €1.80 per share outstanding.

Another of the bright spots in the report we released today is that sales of Keppra® (levetiracetam) – our well-established epilepsy medicine – have not yet been dented by generic competitors as much as might have been expected. Indeed the Keppra franchise continued to enjoy sales growth in the first nine months.

So, plenty to be encouraged by. Alas there’s little time to rest. We’re working hard to ‘reinvent’ our annual report to respond to the needs of our stakeholders, especially investors and analysts in the digital era. Stay tuned for details…