UCB sees strong showing from core products in 2011

Belgian drugmaker UCB (UCB: BR) announced consolidated 2011 financial results, showing that revenue increased just 1% to 3.25 billion euros ($4.37 billion). Net sales amounted to 2.88 billion euros or 3% higher than in 2010 because of the solid performance of the core medicines.

Net profit after non-controlling items reached 235 million euros compared with 103 million euros in 2010. Core earnings per share (EPS), which reflect the after tax effects of non-recurring items, financial one-offs and amortization of intangibles, reached to 1.89 euros versus 1.99 euros in 2010, reflecting the impact from accelerated research and development expenses. For fiscal year 2012, the company expects revenues of 3.1 billion euros; recurring EBITDA at around 630-660 million euros and core EPS in the range of 1.60 euros to 1.70 euros.

2011 was marked by execution and delivery of growth of Cimzia (certolizumab pegol), Vimpat (lacosamide) and Neupro (rotigotine) - combined net sales of which came in at 625 million, a year-on-year increase of 51%, said UCB. Keppra (levetiracetam) delivered a robust performance with net sales of 966 million euros (+3%). Growth from the new medicines offset declines within the mature product portfolio due to patent expiries.