UCB ( UCBJF ) reported 2013 earnings per share of $2.56, down 8% on a reported basis but up 1% at constant exchange rates (CER). Earnings missed the Zacks Consensus Estimate of $2.84. Revenues for 2013 were approximately $4.5 billion (down 1% on a reported basis but up 2% at CER), in line with the Zacks Consensus Estimate. 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 at CER. Cimzia (Crohn's disease and inflammatory arthritis) sales went up 32% to 594 million in 2013, and Vimpat (epilepsy) sales came in at 411 million, reflecting an increase of 27%. Neupro, which is marketed as a treatment for Parkinson's disease (PD) and restless legs syndrome (RLS), recorded sales of 182 million, up 39%. However, sales of Keppra, another epilepsy treatment, declined 12% to 712 million in 2013. Sales were hurt by generic competition in Europe. The combined sales of Cimzia, Vimpat and Neupro accounted for about 34.8% of total revenues in 2013. In 2013, research and development (R&D) expenses were 856 million, down 2% year over year. In 2013, general and administrative expenses were 205 million, down 5% while … Continue reading
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