Belgian biopharmaceutical company UCB saw an 11% boost to sales in the first half of the year, driven by "double digit growth" for its medicines which treat epilepsy and postmenopausal osteoporosis, as well as the launch of several new products.
Brussels headquartered UCB (Belgian Chemical Union) is a multinational pharmaceutical company which employs 9,000 people across nearly 40 countries, and mainly develops treatments for people with immunological and neurological diseases. It is one of the top 20 companies listed on the Belgian stock exchange's benchmark index, the BEL 20.
UCB reported an 8% rise in revenues in the first half of 2024, reaching €2.79 billion, with net sales of €2.64 billion (up 11%). The company said that sales were driven by double-digit growth for epilepsy treatments Briviact and Fintepla, and Evenity which treats postmenopausal osteoporosis.
The company added that the first half of 2024 saw "strong" launches for Bimzelx (a treatment for psoriasis), and Rystiggo and Zilbrysq (both for generalised myasthenia gravis, which causes muscle weakness).
UCB's underlying profit (adjusted earnings before interest, taxation, depreciation and amortisation) for the first half of the year fell by 19% to €652 million, impacted by "significantly higher operating expenses" including investment in launching new products.
Jean-Christophe Tellier, CEO of UCB, stated that the number of global patients using Bimzelx has exceeded 35,000. He said the medicine has been available for psoriasis patients in the US since November of last year, and the company expects to expand its use for US patients with other conditions at the end of this year.
"We will continue to execute the multiple launches around the globe, next to Bimzelx, Rystiggo and Zilbrysq in generalised myasthenia gravis, driving company growth. We are pleased with the growing access to our medicines across our regions, and the improved ESG ratings reflecting our efforts to create value for all stakeholders, now and in the future," he said.
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For 2024, UCB is now aiming for an increase in revenues towards the top end of the range of €5.5 to €5.7 billion.
Sandrine Dufour, CFO of UCB, noted that the company saw "strong top-line growth" in the first half of the year, and is "confident" about hitting the 2024 target.
"We are confident that we will reach the top-end of our 2024 revenue guidance and expect to deliver solid financial results for the full year 2024. Our 2025 commitment for growing the top line to at least €6 billion and a significant improved margin stands," she said.
