UCB 1H22: Bumpy launch for Bimzelx and rozano's fear of blood
This week, UCB announced its 1H22 figures, showing financial robustness in a challenging environment. Although revenue decreases and cost increases were anticipated after a highly dynamic semester, UCB kept a rigid course and outperformed consensus estimates on profitability across the board. That being said, our interest was mainly triggered by the commercial performance of new kid on the block Bimzelx, as well as future plans with rozanolixizumab. We reduce our target price to €110, but maintain a clear Buy rating.UCB is a global biopharmaceutical company focused on severe diseases in two therapeutic areas, namely central nervous system disorders and immunology. In the area of central nervous system disorders, Co. is focused on advanced Parkinson's disease, epilepsy, restless legs syndrome and epilepsy. In the area of immunology disorders, Co. is focused on rheumatoid arthritis, axial spondyloarthritis, psoriatic arthritis, systemic lupus erythematosus, juvenile idiopathic arthritis, post-menopausal osteoporosis, systemic lupus erythematosus and immunological diseases.
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