Sector News

Strong first six months – UCB with continued delivery and strong resilience

July 31, 2022
Life sciences
  • Revenue increased to € 2.93 billion (+5%; +3% CER1), net sales to € 2.70 billion (+2%; 0% CER) – impacted by generic erosion to Vimpat/U.S. and E Keppra/Japan
  • Underlying profitability (adj. EBITDA2) was € 814 million (-3%; -2% CER), 28% of revenue – impacted by Zogenix inclusion since March
  • Strong clinical pipeline: two additional phase 3 projects, development of rozanolixizumab in ITP de-prioritized
  • Financial guidance for 2022* confirmed: Revenue expected in the range of € 5.3 – 5.4 billion, adjusted EBITDA2 in the range 21 – 22 % of revenue, Core EPS3 in the range of € 3.70 – 4.00
    UCB HY-Year Report 2022, Brussels (Belgium), 28 July 2022 – 7:00 (CEST) – regulated information

Jean-Christophe Tellier, CEO UCB says: “We had a strong first half 2022, delivered good product growth and strong regional launches of BIMZELX®, which received great feedback from people living with psoriasis. As expected, we’re seeing the impacts from the loss of exclusivity for E KEPPRA® in Japan and VIMPAT® in the U.S. We are confident to bring BIMZELX® to people living with psoriasis in the U.S. following our submission of the response to the complete response letter by the end of 2022. We are looking forward to our strong long-term growth ahead and our ability in creating value for all stakeholders, now and into the future – also driven by the new product launches currently under preparation serving people living with psoriasis, psoriatic arthritis, across the full spectrum of axial spondyloarthritis and generalized myasthenia gravis.”

In the first six months 2022, revenue reached € 2 925 million (+5%; +3% CER1). Net sales went up by 2% to € 2 705 million (0% CER1), driven by the continued growth of UCB’s product portfolio, namely CIMZIA® and BRIVIACT®, and by the addition of FINTEPLA®. Royalty income and fees increased from € 40 million to € 45 million. Other revenue benefitted from continued payments from R&D and licensing partners, including a one-time amount of € 70 million from sale of intellectual property rights, reaching € 175 million after € 87 million.

Underlying profitability (adjusted EBITDA2) reached € 814 million (-3%; -2% CER1) reflecting higher revenue and higher operating expenses driven by the Zogenix acquisition and the ongoing and coming launches – partly compensated by a strong increase in other operating income in connection with EVENITY® (romosozumab).

Profit decreased to € 399 million (-30%; -25% CER1) also due to the higher amortization charges and fees in connection with the Zogenix acquisition. Core EPS3 were € 3.15 after € 3.40 in the first six months 2021.

By: UCB, Press Release

Source: ucb.com

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