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UCB’s performance in line with expectations for 2018

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    The first nine months of 2018 saw UCB record results which see the company on track to deliver on its financial outlook for the year. We were also pleased to report that people with epilepsy in China will soon benefit from our products.

    As we pass the three-quarter mark for 2018, I’m heartened to see that the outlook we presented for the year is shaping up well. In a company active in markets around the world, delivering medicines for patients with a range of severe diseases, anticipating our financial performance is no mean feat.

    Highlights from 9-month update
    Let me share some highlights from our latest report. I’m particularly excited about our progress in China. In August, Chinese authorities gave the green light for the use of our established epilepsy medicine as a monotherapy.

    The exceptional thing about this is how UCB used a pioneering "extrapolation" concept in securing marketing authorization. Based on data from the use of the medication as an adjunctive therapy, supported by sound scientific rationale, the product was approved for monotherapy of a certain type of epilepsy seizure.

    In other words, UCB made the case for the medicine to be used on its own, based on information gathered from the use of the product as an add-on drug. In the world of medicines regulation, this is quite an innovative approach and brings the product much faster to the patients. Most importantly, we can now prepare to launch the product which will improve the lives of patients in China.

    Meanwhile, UCB filed an application with the FDA in the US for the use of one of our products in non-radiographic axial spondyloarthritis (nr-axSpA), and reported progress on a number of compounds in our R&D pipeline.

    These developments may contribute to growth reported in future financial results. Returning to our nine months 2018 data, our five main products recorded strong growth, with revenue of €2.8 billion. This made a significant contribution to the overall revenue of €3.4 billion. For the full year 2018, revenue is expected to reach €4.5 - €4.6 billion, recurring EBITDA should reach €1.3 – 1.4 billion, and core earnings per share is expected to be between €4.30 and €4.70.

    So, at this advanced stage of the year, the numbers are shaping up broadly as anticipated. Our next report will show the full picture for 2018 (in February 2019) and, we expect, be in line with the outlook we set out above.

    Some of you might have noticed that we have a new addition the UCB IR team. Hope this serves you well as well – let us know your feedback!

    In the meantime, do not hesitate to contact me if you have any questions.

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