BRUSSELS, BELGIUM -- (Marketwire) -- 10/31/08 --
* UCB on track to achieve 2008 and 2009 financial outlook
* Three new drug launches in nine months
* Continued roll-out of strategy
* Early research with two new external partnerships
Brussels, Belgium, October 31, 2008 at 7:00 AM (CET) - press release,
regulated information - UCB announced today that the financial
performance of the UCB Group in the first nine months of 2008 was
in-line with the company's financial outlook 2008.
"In the first nine months, UCB has achieved several regulatory
milestones in its core fields of CNS and immunology disorders, and
launched the SHAPE initiative", said Roch Doliveux, CEO of UCB. "In
April, we launched Cimzia® for the treatment of Crohn's disease in
the U.S. In September, we launched two new medicines for the
treatment of adjunctive therapy in epilepsy: Vimpat® in Europe and
Keppra® XR in the U.S. UCB's pipeline is progressing and we are on
track to achieve our full-year financial goals. Implementation of the
SHAPE initiative, which redeploys resources on our core activities
while improving competitiveness and profitability, has begun.
Implementation and related social procedures in the countries
involved are ongoing in constructive dialogue with our social
partners."
UCB's revenue line decreased during the first nine months of 2008 by
a mid-single digit percentage rate compared to the same period in
2007, due to the loss of Zyrtec® (cetirizine) patent in the US in
December 2007. Revenues remained stable when excluding the impact of
currency fluctuations. Key products contributing to growth were
Keppra® (levetiracetam), Xyzal® (levocetirizine) and Tussionex®
(hydrocodone polistirex and chlorpheniramine polistirex) all of which
continued to deliver strong double-digit percentages in revenue
growth. Keppra® is expected to face generic competition in the U.S.
from early November 2008.
In the first nine months, recurring EBITDA (Earnings Before Interest,
Taxes, Depreciation and Amortization) was on track with full-year
expectations.
New product launches
The launch of Cimzia® in the U.S. for the treatment of Crohn's
Disease continues with over 2 300 patients being prescribed the
product since launch in April 2008. Over the same period, more than 5
200 gastroenterologists have enrolled in UCB's CIMplicity(TM)
program, and 1 200 have prescribed Cimzia® so far. While data are
based on a sample they suggest that the majority of patients treated
are naïve to anti-TNF treatment.
At the end of August 2008, Vimpat® (lacosamide) was approved in the
EU as adjunctive therapy for the treatment of partial-onset seizures
in adults with epilepsy. Within days, the drug was launched in
Germany and the UK. Epilepsy specialists have responded positively to
the launch of Vimpat® and several hundred patients have already been
prescribed the drug as add-on to their current medication. Further
European launches are expected to take place in the coming months. At
the end of October, Vimpat® was approved in the U.S. as adjunctive
therapy for partial onset seizures in adults with epilepsy. Vimpat®
will be launched in the U.S.