UCB's 1st-half profits fall 39% on Schwarz buy

Belgian drugmaker UCB says that the 39% fall, to 171.0 million euros ($233.7 million), in profits for the first half of the year reflects the impact of one-time expenses and charges of 224.0 million euros, related to its integration of Germany's Schwarz Pharma AG, acquired earlier this year (Marketletters passim).

Revenues increased 3% to 1.86 billion euros, in line with analysts' expectations, largely due to growth in the contribution from product sales, up 6% to 1.71 billion euros. Key products included: the anti-epileptic Keppra (levetiracetam), sales of which grew 36% to 498.0 million euros; the prescription anti-histamine Xyzal (levocetirizine dihydrochloride), which contributed 104.0 million euros, up 18%; and Neupro (rotigotine transdermal patch), the recently-US Food and Drug Administration approved Parkinson's disease treatment, which produced turnover of 17.0 million euros. Conversely, revenue from the allergy treatment Zyrtec (cetirizine) fell 6% to 298.0 million euros, primarily as a result of a 19% decline in Japanese sales.

Full-year profits affected by Schwarz buy