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Belgium's UCB reports rise in FY'17 profit, revenue

UCB SA said full-year 2017 earnings rose 45% and set its core EPS forecast for full year 2018.

The Brussels-based drugmaker said full-year profit attributable to shareholders reached €753 million, up from €520 million in 2016. Core EPS was €4.82, up from €3.19 in the preceding year.

The S&P Capital IQ consensus normalized EPS estimate for 2017 is €4.31.

Revenue reached €4.53 billion in 2017, up 9% in actual rates from €4.15 billion in 2016. The growth in revenue was driven by the company's core products, including immunology drug Cimzia, and epilepsy treatments Vimpat and Keppra.

Research and development expenses for the year were €1.06 billion, up from €1.02 billion in the year-ago period.

For full year 2018, the company expects revenue to reach about €4.5 billion to €4.6 billion and core EPS to be in the range of €4.30 to €4.70.

The S&P Capital IQ consensus normalized EPS estimate for 2018 is €4.64.

UCB's board also proposed a dividend of €1.18 per share, an increase of 2.6%.