SOURCE: UCB

August 01, 2008 01:11 ET

UCB reports financials in line with expectations, integration completed, R&D milestones achieved and stronger focus on core business

BRUSSELS, BELGIUM--(Marketwire - August 1, 2008) -


  * Financial performance in the first half of 2008 in-line with
    expectations: Revenue as expected down by 11% to EUR 1.7 billion;
    underlying profitability (recurring EBITDA) reached EUR 358
    million (-26%), reported net profit EUR 108 million (-37%).
  * Integration of Schwarz Pharma completed ahead of schedule:
    Synergies in the first six months reached EUR 305 million;
    synergies of 2008 will reach EUR 350 million; targeted synergies
    of EUR 380 million to be reached almost two years ahead of
    schedule.
  * Multiple regulatory milestones and approvals: In the first half
    of 2008, UCB achieved two approvals (Cimzia®, Crohn's disease and
    Xyzal® oral solution) in the U.S. and two positive opinions
    (Neupro®, RLS and Vimpat®, epilepsy) for Europe.
  * New "SHAPE" initiative: Major global effort to improve
    competitiveness and profitability by re-allocating EUR 300
    million within the next three years. The initiative includes
    increased focus, re-deployment of UCB's resources, advance of R&D
    and simplifying the organisation while successfully delivering
    UCB's new medicines to patients.
  * Outlook 2008: Revenue is expected to exceed EUR 3.3 billion;
    underlying profitability (recurring EBITDA) 2008 is confirmed to
    reach approximately EUR 650 million. Net result might be
    significantly impacted by UCB's initiative "SHAPE".

BRUSSELS, BELGIUM - August 1st 2008 - 7:00 am CET - press release, regulated information - UCB today announced its consolidated interim financial results.

"The financial performance in the first six months is well in-line with expectations," says Roch Doliveux, CEO of UCB. "With one of the most exciting late stage pipelines in the industry and following recent approvals, like Cimzia® for Crohn's disease in the U.S., and positive opinions for Neupro® for RLS and Vimpat® for epilepsy in Europe, the time is now to further shape UCB and become a specialist company focused on successfully delivering our new medicines to patients."


The full press release can be downloaded from the following link:

http://hugin.info/133973/R/1239755/265632.pdf



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Contact Information

  • Further information

    Antje Witte, Corporate Communications & Investor Relations, UCB Group
    T +32.2.559.9414, Email Contact

    Michael Tuck-Sherman, Investor Relations, UCB Group
    T: +32.2.559.9712, Email Contact