UCB reported strong FY 16 numbers, with both top-line and bottom-line coming in slightly above our expectations. Revenue was up 8% yoy to €4.2bn (vs. our estimate of €4.1bn), mainly driven by the core CVN portfolio – Cimzia (+21%), Vimpat (+20%) and Neupro (+17%). Recurring EBITDA increased 26% to €1bn (the margin improved c.3.5ppt to c.25%), primarily on account of the positive product mix, and lower R&D (end of late stage trials of Romosozumab/Evenity) and G&A e
03 Mar 2017
Strong FY 16 results; crucial events ahead
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Strong FY 16 results; crucial events ahead
UCB S.A. (UCB:WBO) | 0 0 1.1% | Mkt Cap: 13,141m
- Published:
03 Mar 2017 -
Author:
Jyoti Prakash -
Pages:
3
UCB reported strong FY 16 numbers, with both top-line and bottom-line coming in slightly above our expectations. Revenue was up 8% yoy to €4.2bn (vs. our estimate of €4.1bn), mainly driven by the core CVN portfolio – Cimzia (+21%), Vimpat (+20%) and Neupro (+17%). Recurring EBITDA increased 26% to €1bn (the margin improved c.3.5ppt to c.25%), primarily on account of the positive product mix, and lower R&D (end of late stage trials of Romosozumab/Evenity) and G&A e