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UCB reveals positive Q1 figures

UCB's first-quarter figures boosted by core products Cimzia, Vimpat and Neupro

UCB has reported a 13 per cent increase in revenue for the first quarter of 2011, driven by the growth of core products, but it did not reveal profit figures.

The company explained that underlying profitability, or recurring EBITDA, and net profit performance were in line with its expectations.

Roch Doliveux, chief executive of UCB, said: "UCB is off to a good start in 2011 with more than 219,000 patients benefiting from our core medicines Cimzia, Vimpat and Neupro, which have reached a combined sales total of €134m in the first three months.

"While we are facing generic competition this year, especially for Keppra in Europe, we can subsequently look forward to a decade that is uninterrupted by patent expirations. This, coupled with the advancement of our new products, should see UCB enter a period of sustainable company growth."

The company said it expects its full-year results to be driven by the continued intense growth of Cimzia, Vimpat and Neupro, which should compensate to a large extent – but not entirely - the effects of the remaining major patent expiries.

Total revenue is expected to be up to €3.1bn in 2011 due to generic competition to Keppra in the EU and the full annualised generic competition to US products, as well as further erosion of mature products, partially offset by the performance of newly launched products.

In 2011, UCB's recurring EBITDA is expected to be up to €680m, while earnings per share is likely to be about €1.70.

28th April 2011

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