) 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
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
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
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.
SIGA Technologies, Inc.
) look more attractive with a Zacks Rank #1 (Strong Buy).
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