Delivering today, shaping what comes next

When I look at where we are halfway through 2026, I feel a deep sense of gratitude. Our strong performance in the first half of the year reflects something I see every day: the steady momentum of UCB, the focus of our teams around the world and, above all, our shared commitment to the people living with severe diseases.

Total revenue increased by 22% to €4.27 billion, driven by strong growth across our growth portfolio. Adjusted EBITDA reached €1.74 billion, an increase of 68%, with an adjusted EBITDA margin of 40.7%. Full year 2026 financial guidance has been updated and is now expected to grow in the low-teens to mid-teens percentage range at constant exchange rates.

These numbers build on the remarkable growth we delivered in 2025, and they tell me our teams can execute with real discipline. But what matters most to me is not the performance itself. It's what that performance makes possible. Strong performance today gives us the ability to invest in what comes next.

Our patient value strategy guides every one of our choices. We focus on areas of high unmet need and invest in the science with the potential to make a meaningful difference. That means advancing our own pipeline while welcoming external innovation that fits who we are and makes us stronger.

The first half of 2026 has been especially busy on this front. Through Candid Therapeutics, our agreement with Antengene and our acquisition of Neurona Therapeutics, we've brought next generation T cell engager and cell therapy capabilities into UCB. These approaches open doors I find genuinely inspiring, in both immunology and neurology, and they move us closer to the transformative outcomes we want for patients.

How we make these decisions matters. Every opportunity has to start with a clear patient need. It has to rest on compelling biology. And it has to complement the strengths we already have. Our confidence must extend beyond the science itself to UCB’s ability to add value through the right expertise, resources and focus.

The growth we're delivering today didn't happen overnight. It's the result of investments and careful choices made over many years. Now we're using that strength to shape UCB's next phase, blending our own innovation with a small number of thoughtfully chosen external opportunities.

For me, this is the heart of it. This is where performance and patient value meet: delivering for people today, while investing with discipline in the science that can create value for patients tomorrow. That's the work I'm proud to be part of, and it's the work we'll keep doing together.