UCB: raises 2017 forecasts after solid first half.
(CercleFinance.com) - Belgian pharmaceutical company UCB raised its full-year outlook on Thursday after reporting solid first-half results.
UCB said in a statement that it now expected revenue between 4.35 billion euros and 4.45 billion euros this year, and recurring EBITDA up between 1.15 and 1.25 billion euros.
In the first six months of 2017, the group's revenue rose 12% to 2.23 billion euros, while underlying profitability (rEBITDA) increased by 35% to 742 million euros.
In the first half, sales of Cimzia - a drug designed to treat inflammatory diseases - rose 11 per cent, or 9 per cent on a constant exchange rate basis, to 663 million euros.
Despite these solid results, UCB shares were down 0.7% to 60.7 euros today on Belgium's BEL 20 index.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
UCB said in a statement that it now expected revenue between 4.35 billion euros and 4.45 billion euros this year, and recurring EBITDA up between 1.15 and 1.25 billion euros.
In the first six months of 2017, the group's revenue rose 12% to 2.23 billion euros, while underlying profitability (rEBITDA) increased by 35% to 742 million euros.
In the first half, sales of Cimzia - a drug designed to treat inflammatory diseases - rose 11 per cent, or 9 per cent on a constant exchange rate basis, to 663 million euros.
Despite these solid results, UCB shares were down 0.7% to 60.7 euros today on Belgium's BEL 20 index.
Copyright (c) 2017 CercleFinance.com. All rights reserved.