Report
Thomas Vranken

UCB A peek under the hood of UCB's pipeline

We issue a new company note with an update on Bimzelx in HS and selected pipeline assets dapimap and UCB1381 & UCB9741 in atopic dermatitis. Dapimap recently concluded its first of two Phase 3 trials in systemic lupus erythematosus (SLE), while we expect Phase 2 results for the atopic dermatitis franchise at the upcoming FY24 update in February. Overall, our analysis confirms UCB's strong pipeline and its potential to drive significant growth in the coming years. The company's strategic focus on innovative treatments for chronic and debilitating diseases positions it well for future success. Based on our updated analyses, we land at a new target price of € 214 (from € 173 previously) and reiterate our Accumulate rating.
Underlying
UCB S.A.

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.

Provider
KBC Securities
KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

 

Analysts
Thomas Vranken

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