Back to top

Analyst Blog

UCB (UCBJF) reported 2012 earnings per share of $2.80, up 12% on a reported basis but down 4% at constant exchange rates (CER).

Revenues for the year 2012 were approximately $4,450.7 million (up 7% on a reported basis and 2% at CER). Revenues surpassed the Zacks Consensus Estimate of $4,323 million. UCB’s revenues primarily include sales of Cimzia, Vimpat, Neupro and Keppra.

All growth rates mentioned below are on a year-on-year basis and at CER.

Cimzia (Crohn’s disease and rheumatoid arthritis) sales went up 41% to €467 million in 2012, and Vimpat (epilepsy) sales came in at €334 million, reflecting an increase of 44%. Neupro, which is marketed as a treatment for Parkinson’s disease (PD) and restless legs syndrome (RLS), recorded sales of €133 million, up 38%.

However, sales of Keppra, another epilepsy treatment, declined 16% to €838 million in 2012. Sales were hurt by generic competition in Europe.

In 2012, research and development (R&D) expenses were €890 million, up 10% year over year. In 2012 general and administrative expenses were €198 million, up 2% and selling and marketing expenses were €875 million, flat from the year-ago period.

Pipeline Update

In Aug 2012, Neupro was approved in the EU for early and advanced PD as well as RLS. For the PD and RLS indications, Neupro received regulatory approval in the US and Japan in April and Dec 2012, respectively. In Dec 2012, Cimzia was approved in Japan for rheumatoid arthritis.
 
2013 Guidance

For 2013, UCB expects revenues to grow in the low single-digits to about €3.4 million (excluding exchange rate impacts). UCB expects recurring EBITDA in the range of €680-710 million and earnings per share in the band of €1.90 - €2.05.

UCB carries a Zacks Rank #3 (Hold). Currently, companies like Lannett Company, Inc. (LCI - Snapshot Report), SIGA Technologies, Inc. and QLT Inc. (QLTI - Analyst Report) look more attractive with a Zacks Rank #1 (Strong Buy).
 

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
UTD THERAPE… UTHR 117.83 +28.51%
TRIQUINT SE… TQNT 20.67 +6.52%
RF MICRO DE… RFMD 12.47 +6.04%
VASCO DATA… VDSI 14.77 +4.68%
BANCO DO BR… BDORY 15.53 +3.95%