UCB Successful Completion of 5.20% Fixed Rate Note Offering
Following the successful completion of UCB's fixed rate notes offering to the public, we resume coverage with our prior € 110 TP and Buy rating. We maintain our strong belief in Bimzelx as a best-in-class asset in theIL-17/IL-23 space (KBCSe peak sales: € 3.4bn), and look forward to future commercial updates, as well as regulatory filings and approvals in its subsequent indications PsA, axSpA and HS.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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