UCB Kygevvi receives EC approval in ultra-rare disease TK2d

UCB announced that the European Commission approved Kygevvi (doxecitine and doxribtimine) under exceptional circumstances as the first and only treatment for paediatric and adult patients with genetically confirmed thymidine kinase 2 deficiency (TK2d) with an age of symptom onset on or before 12 years. The approval comes after the positive CHMP opinion announced in February 2026. Beyond the EU, the product received FDA approval in the US in 4Q25. € 284 TP and BUY maintained.

Morning Notes : AGFB BB, GLPG NA, IVA FP, UCB BB, WDP BB, MAAT FP, ONW...

: AGFB BB, GLPG NA, IVA FP, UCB BB, WDP BB, MAAT FP, ONWD BB

Morning Notes : HAL NA, UCB BB, DEME BB, AUTL US, JDEP NA

: HAL NA, UCB BB, DEME BB, AUTL US, JDEP NA

UCB New Bimzelx data in HS and PsO at AAD 2026

UCB presented updated data for Bimzelx in hidradenitis suppurativa (HS) and psoriasis (PsO) at the AAD conference, held 27–31 March. In HS, data showing better outcomes in patients with lower disease duration and severity makes the case for earlier treatment with Bimzelx, further supporting the drug's continued commercial uptake. In PsO, we're encouraged to see high rates of complete skin clearance up to 4 years in patients that stopped and re-started treatment, which should help UCB capture re-...

Morning Notes : COMB BB, HYL BB, TESB BB, UCB BB

: COMB BB, HYL BB, TESB BB, UCB BB

UCB/EmBOLDened by Bimzelx/BUY

We reiterate our BUY rating but cut our target price from €310 to €306, reflecting an increased equity risk premium due to the war in Iran. We continue to view UCB as a unique growth story in the industry, as we model core EPS to grow at c.30% CAGR over 2024-30F thanks to the continued growth of key blockbusters Bimzelx and Evenity. Next to these, we remain confident in UCB's long-term growth strategy with assets like Galvokimig, which continues to show efficacy data optically superior to other ...

Morning Notes : TINC BB, UCB BB, VPK NA, ZEAL DC

: TINC BB, UCB BB, VPK NA, ZEAL DC

UCB Picks Georgia site for planned US manufacturing facility

Yesterday after market close, UCB announced that it has selected Gwinnett County, Georgia as the location for its new US biologics manufacturing facility. Once operational, the facility is expected to produce recently approved and future pipeline complex biologics 24/7 primarily for the US market. This project is expected to generate approx. $5bn in total economic impact, creating around 330 permanent highly skilled jobs, and more than 1000 construction jobs. Approx. 62% of the company's FY25 ne...

Benelux Morning Notes

AEGON: Launch of Aegon Insurance Asset Management Company in China (tidying up). Basic-Fit: Solid final FY25; strong membership ingrowth in 1Q26 comfort on energy prices. CVC Capital Partners: Steady delivery. D'Ieteren: 2H25 beat on Auto, Belron delivering, PBT group guidance 7% below. UCB: Bimzelx demonstrates superiority to Skyrizi. Wereldhave: c.€5.6m acquisition of supermarket in Ville2, full ownership of the centre

Morning Notes : AGFB BB, BFIT NA, DIE BB, TINC BB, UCB BB, ARG FP

: AGFB BB, BFIT NA, DIE BB, TINC BB, UCB BB, ARG FP

UCB Bimzelx shows superiority vs. Skyrizi in head to head PsA trial

UCB announced positive topline data from the BE BOLD trial assessing Bimzelx (IL-17 A/F antibody) vs. Skyrizi (IL-23 antibody) in adults living with active psoriatic arthritis (PsA), where Bimzelx demonstrated statistically significant superiority over Skyrizi in the ACR50 primary endpoint at week 16. This positive readout is an important development for Bimzelx given the PsA market is the second largest after PsO. IL-23 has gained more share vs. 1L-17 in PsA to date, however, today's topline re...

Intron Health - AI Impact on Pharma - Thematic (20pgs) - Winners/Loser...

Our Big Pharma AI thesis is the result of ~25 interviews with industry execs & >100hrs of research. We show ~10% of OPEX could be saved by AI within a few years & conclude the recent sector rally is wholly justified & could run further. We assess the winners & losers from AI adoption and discuss in detail some of the short, mid & long-term consequences. We evaluate the various AI use cases and quantify the potential benefit they may have. We break down SG&A & R&D activities & show where AI is im...

Dynamic Top Pick List Update March 2026: Removing Aedifica – Adding Pr...

The tariff war between US and China has eased, but with the Iran conflict and an erratic Trump, uncertainty will continue into 2027. Energy prices have gone ballistic, with gas prices doubling in Europe and has hit the cyclical stocks hard. The highly anticipated AI productivity gains also will have to transpire sooner or later or a US market correction becomes unavoidable. While the macro-economic impact has been limited so far, a prolonged uncertain situation will result in economic damage. We...

Morning Notes : AED BB, ASM NA, DIE BB, IMMO BB, UCB BB

: AED BB, ASM NA, DIE BB, IMMO BB, UCB BB

UCB In-licenses preclinical bispecific TCE for B-cell autoimmune disea...

UCB and Antengene entered into an exclusive worldwide license agreement to further develop, manufacture and commercialize ATG-201, a preclinical CD19/CD3 bispecific T-cell engager. UCB will pay $ 80m in upfront and near-term milestone payments, development and commercial milestones of up to approx. $ 1.1bn, and royalties on future sales. ATG-201, being a bispecific T-cell engager, builds on UCB's autoimmune expertise, and given its potential to address a broad set of B-cell driven autoimmune dis...

Morning Notes : ACKB BB, ATEB BB, CPINV BB, SYENS BB, PHVS US

: ACKB BB, ATEB BB, CPINV BB, SYENS BB, PHVS US

Ackermans & van Haaren Tempering our expectations for the private bank...

Recently, the AvH stock rose above our €272 target (set 1 year ago), and for good reasons. FY25 results exceeded expectations, with core participations delivering record contributions overall. Entering 2026, we have updated our valuation model for the private banking segment. Recent financials and a noticeable compression in forward peer multiples have led to modestly lower current valuations and a more material reduction in our forward (FY26E) target valuations. Based on our forecasts of €294m ...

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 02/27/2026

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 27/02/2026

Ackermans & Van Haaren : Another record year