UCB - Zogenix: A sensible strategic acquisition at the right time UCB BB
On January 19th, UCB informed the market of their intend to acquire Zogenix, Inc. We have evaluated the acquisition more in depth; in our opinion, this deal makes a lot of sense. From a strategic point of view; it complements UCB’s epilepsy line-up and can improve future revenue streams, without cannibalisation, in a year where they face the Vimpat patent cliff. It also confirms their mission to be a contender in the rare disease space. We also believe that, from a financial perspective, the proposed deal will not fundamentally change UCB’s position. We believe that it will strengthen Belgium’s pharma powerhouse and positions it for future growth. We remain bullish on UCB and re-affirm our buy rating and € 125 PT.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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