UCB's 2007 net profit down 59% on M&A

Belgian drugmaker UCB's full-year 2007 net profit dropped 59% year-on-year, to 160.0 million euros ($107.9 million), on charges related to last year's integration of Germany's Schwarz Pharma AG (Marketletters passim), exceeding analysts' expectations of 147.0 million euros.

Revenue of 3.6 billion euros was flat on 2006. This included net sales of 3.2 billion euros which, according to the firm, were driven by "outstanding" turnover of its top earner, the anti-epileptic Keppra (levetiracetam), which netted over 1.0 billion euros, up 30%. Turnover of the prescription anti-histamine Xyzal (levocetirizine dihydrochloride) reached 168.0 million euros, and Neupro (rotigotine transdermal patch), a Parkinson's disease treatment, saw sales of 52.0 million euros, supported by a successful US launch. Underlying profitability, recurring earnings before interest, tax, depreciation, amortization of reached 741.0 million euros, supported by the successful integration of Schwarz Pharma with 166.0 million euros in synergies realised in 2007, the firm noted.