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Guy Sips ... (+4)
  • Guy Sips
  • Jacob Mekhael
  • Wim Hoste
  • Wim Lewi
Jacob Mekhael
  • Jacob Mekhael

UCB Model update ahead of FY25 results

Following the second guidance upgrade for FY25 (announced 5 December 2025), we update our UCB model ahead of FY25 results. UCB now expects revenue to exceed €7.6bn, representing +24% y/y (previously at least €7bn). The upgraded guidance reflects - next to the continued growth of Rystiggo, Zilbrysq, Fintepla and Evenity – strong performance of Bimzelx, including a strong momentum in hidradenitis suppurativa (HS) and a favourable payer mix in the US. Our model update increases Bimzelx FY25 sales t...

Dominic Rose ... (+2)
  • Dominic Rose
  • Naresh Chouhan

Novo - Why We Remain Bears (SELL, TP DKK230, 13pgs)

For access to the full note, please contact Naresh Chouhan ( )

 PRESS RELEASE

Communiqué de presse : Sanofi annonce la signature d’un mandat de rach...

Communiqué de presse : Sanofi annonce la signature d’un mandat de rachat d'actions pour un montant maximum de 1 milliard d’euros Sanofi annonce la signature d’un mandat de rachat d'actions pour un montant maximum de 1 milliard d’euros Paris, 3 février 2026. Le 29 janvier 2026, Sanofi a annoncé son intention d’exécuter un programme de rachat d'actions en 2026 d'un montant de 1 milliard d’euros. Le 2 février 2026, Sanofi a conclu un mandat avec un prestataire de services d’investissement pour ce programme. Selon les termes de ce mandat, Sanofi rachètera ses propres actions pour un montant m...

 PRESS RELEASE

Press Release: Sanofi announces the signing of a share buyback mandate...

Press Release: Sanofi announces the signing of a share buyback mandate for up to €1 billion Sanofi announces the signing of a share buyback mandate for up to €1 billion Paris, February 3, 2026. On January 29, 2026, Sanofi announced its intention to execute a share buyback program in 2026 of €1 billion. On February 2, 2026, Sanofi entered a mandate with an investment service provider for this program. Under the terms of the mandate, Sanofi will repurchase its own shares for a total consideration of up to €1 billion, between February 3, 2026, and December 31, 2026, at the latest1. About Sa...

AstraZeneca PLC: Collaboration with CSPC strengthens weight-management...

AstraZeneca will pay $1.2 billion upfront, with up to $3.5 billion in milestones. The deal broadens its position in the obesity-care market with little immediate effect on its credit quality

Bruno Cavalier ... (+3)
  • Bruno Cavalier
  • Roy Külter
  • Steven Boumans
IPN IPSEN SA
BNP BNP PARIBAS SA CLASS A
MC LVMH MOET HENNESSY LOUIS VUITTON SE
LI KLEPIERRE SA
COV COVIVIO SA
GFC GECINA SA
NXI NEXITY SA CLASS A
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
GYC GRAND CITY PROPERTIES SA
KORI KORIAN SA
MERY MERCIALYS SA
RBI RAIFFEISEN BANK INTERNATIONAL AG
EL ESSILORLUXOTTICA SA
INEA FONCIERE INEA
BLC BASTIDE LE CONFORT MEDICAL SA
WHA WERELDHAVE N.V.
BLND BRITISH LAND COMPANY PLC
BRBY BURBERRY GROUP PLC
VIRP VIRBAC SA
VETO VETOQUINOL SA
VLS VALNEVA SE
LNA LNA SANTE SA
KOF KAUFMAN & BROAD SA
GBT GUERBET SA
KER KERING SA
ALTA ALTAREA SCA
VNA VONOVIA SE
XIOR XIOR STUDENT HOUSING N.V.
SAN SANOFI
FRE FRESENIUS SE & CO. KGAA
CAP CAPGEMINI SE
ICAD ICADE SA
01913 PRADA S.P.A.
BYG BIG YELLOW GROUP PLC
UTG UNITE GROUP PLC
COFB COFINIMMO SA
CAI CA IMMOBILIEN ANLAGEN AG
TEG TAG IMMOBILIEN AG
VASTB VASTNED RETAIL BELGIUM NV
PSPN PSP SWISS PROPERTY AG
UBS UBM DEVELOPMENT AG
SPSN SWISS PRIME SITE AG
PAT PATRIZIA AG
MONT MONTEA SCA
AED AEDIFICA SA
CARM CARMILA SAS
LEG LEG IMMOBILIEN AG
MONC MONCLER SPA
IRES IRISH RESIDENTIAL PROPERTIES REIT PLC
CPINV CARE PROPERTY INVEST SA
SAFE SAFESTORE HOLDINGS PLC
ARG ARGAN SA
CABK CAIXABANK SA
VGP VGP NV
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
COL INMOBILIARIA COLONIAL SOCIMI SA
DIC DIC ASSET AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
INGA ING GROEP NV
HOME NEINOR HOMES SA
AT1 AROUNDTOWN SA
BIM BIOMERIEUX SA
LAND LAND SECURITIES GROUP PLC
MVC METROVACESA SA
DWS DWS GROUP GMBH & CO. KGAA
NSI NSI N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
INS INSTONE REAL ESTATE GROUP AG
AEDAS AEDAS HOMES SA
WDP WAREHOUSES DE PAUW SCA
ECMPA EUROCOMMERCIAL PROPERTIES NV
ZGN ERMENEGILDO ZEGNA NV
CTPNV CTP NV
EAPI EUROAPI
SHUR SHURGARD SELF STORAGE LIMITED
ORP ORPEA
ALIV SDB AUTOLIV INC.
Hilde Van Boxstael ... (+4)
  • Hilde Van Boxstael
  • Jacob Mekhael
  • Wim Hoste
  • Wim Lewi
Martial Descoutures
  • Martial Descoutures
Jacob Mekhael
  • Jacob Mekhael

UCB Kygevvi receives positive CHMP opinion in ultra-rare disease TK2d

Friday during trading hours, UCB announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) adopted a positive opinion recommending the granting of marketing authorisation under exceptional circumstances for Kygevvi (doxecitine and doxribtimine) for the treatment of pediatric and adult patients with genetically confirmed thymidine kinase 2 deficiency (TK2d) with an age of symptom onset on or before 12 years. Following the positive CHMP opinion...

Martial Descoutures
  • Martial Descoutures
 PRESS RELEASE

Press Release: Sanofi’s venglustat met all primary endpoints in a phas...

Press Release: Sanofi’s venglustat met all primary endpoints in a phase 3 study of type 3 Gaucher disease    Sanofi’s venglustat met all primary endpoints in a phase 3 study of type 3 Gaucher disease In the LEAP2MONO phase 3 study, venglustat, dosed orally once daily, demonstrated clinically meaningful efficacy in patients with type 3 Gaucher disease (GD3), a rare lysosomal storage disorderVenglustat demonstrated superiority versus enzyme replacement therapy in addressing neurological symptoms in GD3, for which there are no approved treatmentsSanofi will pursue global regulatory submissio...

 PRESS RELEASE

Communiqué de presse : Le venglustat de Sanofi a atteint tous les crit...

Communiqué de presse : Le venglustat de Sanofi a atteint tous les critères d'évaluation principaux dans une étude de phase 3 sur la maladie de Gaucher de type 3 Le venglustat de Sanofi a atteint tous les critères d'évaluation principaux dans une étude de phase 3 sur la maladie de Gaucher de type 3 Dans l’étude de phase 3 LEAP2MONO, le venglustat, administré par voie orale une fois par jour, a démontré une efficacité cliniquement significative chez les patients atteints de la maladie de Gaucher de type 3 (MG3), une maladie lysosomale rare.Le venglustat a démontré sa supériorité par rapport ...

 PRESS RELEASE

Press Release: Sanofi’s Rezurock recommended for EU approval by the CH...

Press Release: Sanofi’s Rezurock recommended for EU approval by the CHMP to treat chronic graft-vs-host disease Sanofi’s Rezurock recommended for EU approval by the CHMP to treat chronic graft-vs-host disease Recommendation supported by safety and efficacy results from several clinical studies and real-world evidenceIf approved, Rezurock would offer a new treatment option in the EU for adult patients and in children aged 12 years and older in late line chronic GVHD Paris, January 30, 2026. The European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) has adopted a ...

 PRESS RELEASE

Communiqué de presse : Le CHMP recommande l'approbation du Rezurock de...

Communiqué de presse : Le CHMP recommande l'approbation du Rezurock de Sanofi dans l’UE pour le traitement de la maladie chronique du greffon contre l’hôte Le CHMP recommande l'approbation du Rezurock de Sanofi dans l’UE pour le traitement de la maladie chronique du greffon contre l’hôte La recommandation s’appuie sur les résultats de sécurité et d’efficacité de plusieurs études cliniques et par des données en vie réelleS’il est approuvé, Rezurock permettrait d’offrir une nouvelle option thérapeutique dans l’Union européenne (UE) pour les patients adultes et chez les enfants âgés de 12 ans...

Martial Descoutures
  • Martial Descoutures
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