UCB progress: new product launches and financials on track
- Multiple launches: Cimzia®/RA in the U.S., Vimpat®/epilepsy in the U.S. and in the EU, Neupro®/new patients Parkinson's disease and Neupro®/RLS in the EU
- Total revenue decreased as expected by 6% to EUR 1.6 billion: net sales declined by 10% to EUR 1.4 billion as a consequence of generic competition to Keppra® in the U.S., partially compensated by the strong performance of Keppra® in Europe and the new product launches of Vimpat® and Cimzia®. Royalty income increased by 35% to EUR 114 million supported by the launch of Toviaz®. Other revenue increased by 44% to EUR 103 million due to the good performance of Xyzal® in the U.S. and higher contract manufacturing sales
- Underlying profitability (recurring EBITDA) increased by 1% to EUR 363 million reflecting generic competition more than compensated by significantly lower operating expenses as a result of SHAPE
- Reported net profit after minorities almost quadrupled to EUR 516 million from EUR 108 million in 2008, of which EUR 455 million attributed to capital gains on divestitures
- Phase II trials for CDP7851 in fracture healing and postmenopausal osteoporosis (PMO) initiated
- Outlook 2009 confirmed: Full year total revenue expected to reach between EUR 3.1 - 3.3 billion; underlying profitability (recurring EBITDA) expected to end the year greater than EUR 680 million; net profit as reported increased to EUR 550 million
Brussels (Belgium), 31 July 2009 - 7:00 AM (CET) - press release, regulated information - UCB announced today its consolidated half year 2009 financial results. The first half year of 2009 is marked by progress with clinical development, operational and financial performance, and by a record number of product launches.
"Our Half-Year Report 2009 records significant progress for UCB. With multiple product launches underway showing already promise, we at UCB now have the future in our hands," said Roch Doliveux, Chief Executive Officer, UCB. "We are focusing on the successful commercialization of our major new products Cimzia®, Vimpat® and Neupro® in order to bring benefit to patients living with severe disease. At the same time, we are striving for improved efficiency and more partnerships to strengthen our performance and to continue transforming UCB into the next generation biopharma leader."
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