UCB: Solid foundation for sustainable growth
- Multiple approvals and launches: Cimzia® for RA in the U.S. and EU, Vimpat® for epilepsy in the U.S. and in the EU, Neupro® for new patients in Parkinson's disease and RLS in the EU
- Total revenue decreased as expected by 13% to EUR 3.1 billion due to the full-year impact of generic competition to Keppra® in the U.S. and divestitures
- Strong underlying profitability (recurring EBITDA) of EUR 698 million (-5%) well in line with company guidance (more than EUR 680 million) and reflecting the significant impact of generic competition to Keppra® in the U.S., mostly compensated by lower operating expenses as a result of UCB's focus on its core activities
- Net profit after minorities increased to EUR 513 million in 2009 from EUR 42 million in 2008, reflecting higher non-recurring income stemming from capital gains and overcompensating non-recurring charges relating to the debt refinancing and organizational changes
- Increased gross dividend of EUR 0.96 per share recommended by Board of Directors
- Outlook 2010: total revenue expected to reach approximately EUR 3.0 billion; underlying profitability (recurring EBITDA) expected to end the year at approximately EUR 700 million; Core EPS (earnings per share) expected to reach approximately EUR 1.76
Brussels (Belgium), 2 March 2009 - 7:00 AM (CET) - regulated information - UCB announced today its consolidated full year 2009 financial results. 2009 was a year of execution and delivery. The company reached a turning point through new drug approvals and launches as well as the transformation of its organization. UCB achieved major development and regulatory milestones and reduced and refinanced the existing debt with a new financing structure reflecting an improved maturity profile. With all this, UCB created a strong basis for sustainable future growth.
"UCB is progressing to become a patient-centric global biopharmaceutical leader as we delivered three new medicines Cimzia®, Vimpat® and Neupro® in five indications to patients living with serious diseases of the central nervous system and immunology. Our financial results are on track and our debt is successfully re-financed. Another pillar of UCB's sustainable growth will be the realization of the full potential of our core products: Cimzia®, which we expect to reach peak sales of at least 1.5 billion Euro, Vimpat® with expected peak sales of at least 1.2 billion Euro and Neupro® with estimated peak sales of at least 400 million Euro," said Roch Doliveux, Chief Executive Officer, UCB. "With the recent appointment of Ismail Kola as Executive Vice President, UCB & President of UCB NewMedicines(TM), we have underlined our commitment to a successful breakthrough phase bringing new medicines to the development pipeline and fostering further sustainable growth."
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