From Empirerelations.com

Healthcare/BioTech

UCB reports financials in line with expectations, integration completed, R&D milestones achieved and stronger focus on core business
By MARKET WIRE
Aug 1, 2008 - 12:36:01 AM

BRUSSELS, BELGIUM -- (MARKET WIRE) -- 08/01/08 --

  * Financial performance in the first half of 2008 in-line with    expectations: Revenue as expected down by 11% to EUR 1.7 billion;    underlying profitability (recurring EBITDA) reached EUR 358    million (-26%), reported net profit EUR 108 million (-37%).  * Integration of Schwarz Pharma completed ahead of schedule:    Synergies in the first six months reached EUR 305 million;    synergies of 2008 will reach EUR 350 million; targeted synergies    of EUR 380 million to be reached almost two years ahead of    schedule.  * Multiple regulatory milestones and approvals: In the first half    of 2008, UCB achieved two approvals (Cimzia®, Crohn's disease and    Xyzal® oral solution) in the U.S. and two positive opinions    (Neupro®, RLS and Vimpat®, epilepsy) for Europe.  * New "SHAPE" initiative: Major global effort to improve    competitiveness and profitability by re-allocating EUR 300    million within the next three years. The initiative includes    increased focus, re-deployment of UCB's resources, advance of R&D    and simplifying the organisation while successfully delivering    UCB's new medicines to patients.  * Outlook 2008: Revenue is expected to exceed EUR 3.3 billion;    underlying profitability (recurring EBITDA) 2008 is confirmed to    reach approximately EUR 650 million. Net result might be    significantly impacted by UCB's initiative "SHAPE".

BRUSSELS, BELGIUM - August 1st 2008 - 7:00 am CET - press release,regulated information - UCB today announced its consolidated interimfinancial results.

"The financial performance in the first six months is well in-linewith expectations," says Roch Doliveux, CEO of UCB. "With one of themost exciting late stage pipelines in the industry and followingrecent approvals, like Cimzia® for Crohn's disease in the U.S., andpositive opinions for Neupro® for RLS and Vimpat® for epilepsy inEurope, the time is now to further shape UCB and become a specialistcompany focused on successfully delivering our new medicines topatients."

The full press release can be downloaded from the following link:

http://hugin.info/133973/R/1239755/265632.pdf

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