Abstract
On 25th September 2006, UCB, a global biopharmaceutical company, confirmed its
intention to make a friendly cash and share offer for all the issued and to be
issued shares in Schwarz Pharma. The enlarged company would be called UCB and
continue to be based at UCB' s current headquarters in Brussels, Belgium. This
new strategic analysis report provides a complete and critical review of the
company and includes unique and independent assessments and forecasts of key
products.
UCB is a global biopharmaceutical company dedicated to the research,
development and commercialisation of innovative pharmaceutical and
biotechnology products in the fields of central nervous system disorders,
allergy/respiratory diseases, immune and inflammatory disorders and oncology.
Headquartered in Brussels, Belgium, it has over 8,500 employees worldwide. The
Group has production and packaging facilities in Belgium, Switzerland, the US,
Japan, Germany, India, Italy, Spain and South Korea (to be closed) and sells
in more than 40 countries on all continents. During 2005, the Group disposed
of the Surface Specialties business segment and transformed itself into a pure
biopharmaceutical company.
On 25th September 2006, UCB confirmed its intention to make a friendly cash
and share offer for all the issued and to be issued shares in Schwarz Pharma.
The companies' Boards have agreed the terms of an offer, which Schwarz
Pharma' s Supervisory and Executive Boards unanimously intend to recommend. The
enlarged company would be called UCB and continue to be based at UCB' s current
headquarters in Brussels, Belgium. It is anticipated that the combination of
UCB and Schwarz Pharma would build the next-generation biopharmaceutical
leader, with strong combined US and EU commercial power and pro-forma 2005
revenues of EUR 3.3 billion.
Current Growth Drivers
One of UCB' s biggest-selling products, Keppra, achieved sales growth of 34 per
cent in 2005, to reach revenues of EUR 560 million. UCB is working to enhance
the life cycle for Keppra. To this end, line extensions have been filed for
its use in primary generalised myoclonic seizures, and as an intravenous
solution formulation as a monotherapy for primary generalised seizures. Phase
III trials are also under way in Japan for generalised tonic-clonic seizures
and are planned for epilepsy in children aged one month to six years. Keppra
is also in Phase II trials for other indications such as migraine or bipolar
disorders are in the phase of exploratory clinical studies.
Key Late-Stage Products
Following Cimzia' s excellent Phase III results in Crohn' s disease, a BLA was
submitted to the FDA on 1st March 2006 and an MAA to the EMEA in April 2006.
Approval is expected in the first half of 2007 and launch is targeted to
follow shortly afterwards. It is also undergoing Phase III trials for
rheumatoid arthritis (RA) and Phase II trials for psoriasis.
UCB has licensed exclusive worldwide rights to develop, market and sell
epratuzumab for all autoimmune disease indications, from Immunomedics. The
most advanced programme is for the treatment of systemic lupus erythematosus
(SLE), for which it has been granted FDA fast track designation. UCB
voluntarily suspended dosing in the Phase III SLE trials in mid-2006, however,
following a routine quality assurance audit of Immunomedics' facilities. The
FDA placed epratuzumab on clinical hold, while Immunomedic and UCB address its
concerns, so that patients who have already benefited from epratuzumab are
able to resume treatment as soon as possible.
Table of Contents
- Principal Operating Results
- Breaking News
- Latest Results
- EXECUTIVE SUMMARY
- Introduction
- Current Growth Drivers
- Key Late-Stage Products
- Key Early-Stage Products
- Financial Performance 2005
- Sales and Market Position
- Income
- Operating Profit By Business Segment
- Expenditure
- Capital Expenditure
- Investments By Business Area
- R&D Expenditure
- R&D Expenditure By Business Area
- Divisional Performance
- Consolidated Turnover By Business Area
- Geographic Performance
- Total Revenues By Geographic Area
- Net Biopharmaceutical Sales By Geographical Area
- Company Strategy
- Mergers, Acquisitions and Divestitures
- Acquisitions
- Divestitures
- Key Agreements
- Production
- Employees
- Employees By Geographical Area (Year End)
- Product / R&D Overview
- Key Products
- Recent Product Launches
- Recent Product Approvals
- R&D Strategy
- R&D Pipeline Overview
- Discontinued R&D projects
- Sales Forecasts
- Conclusions/Outlook
- PRODUCT PORTFOLIO / RESEARCH & DEVELOPMENT
- Sales Of Major Biopharmaceutical Products
- R&D Pipeline
- Immuno-allergology - Products
- Major Launched Products
- Arthrotec
- Dipentum
- Mistabron/Mucofluid
- Theo 24
- Xyzal/Xusal
- Mode of Action
- Sales
- Key Markets/Indications
- Further Development
- Patents/Licensees
- Competitor Products
- Sales Forecast
- Zyrtec/Reactine
- Mode of Action
- Licensees
- Competitor Products
- Patents/Generic Competition
- Sales Forecast
- Immuno-allergology - R&D
- AZD8955
- Cimzia
- Clinical Trial Results
- Clinical Trial Results - Psoriasis
- Efletirizine (UCB28754)
- Epratuzumab
- Immuno-Allergology - Summary
- Growth Potential
- Limiting Factors
- Central Nervous System - Products
- Major Launched Products
- Atarax
- Keppra
- Mode of Action
- Sales
- Key Markets/Indications
- Further Development
- Treatment Guidelines/Reimbiursement
- Competitor Products
- Generic Competition
- Sales Forecast
- Clinical Trial Results - Brain Tumours
- Clinical Trial Results - Myoclonic Seizures
- Clinical Trial Results - Bipolar And Aggressive Disorders
- Clinical Trial Results - Parkinson' s Disease
- Clinical Trials Results - Pain Control
- Phase IV Programme
- Longifene
- Metadate CD/Equasym XL
- Sales
- Key Markets/Indications
- Competitor Products
- Sales Forecast
- Nootropil
- Sales
- Key Markets/Indications
- Sales Forecast
- Postafene
- Xyrem
- Key Markets/Indications
- Further Development
- Clinical Trial Results
- Central Nervous System - R&D
- Brivaracetam (UCB34714)
- CDP323
- Seletracetam (UCB44212)
- UCB 106607
- Central Nervous System - Summary
- Cardiovascular - Products
- Gastrointestinal - Products
- Oncology - R&D
- Others - Products
- Major Launched Products
- Balsoclase/Sedotussin/Toclase
- Biofenac
- Bup-4
- Butenafine
- Catabex
- Duratuss
- Kentera
- Lortab
- Tussionex
- APPENDIX 1 - FINANCIAL PERFORMANCE
- APPENDIX 2 - KEY AGREEMENTS
- Actelion Ltd
- Adams Respiratory Therapeutics
- Amgen
- 17th May 2002
- 19th September 2006
- AstraZeneca
- 9th October 1995
- 1st March 1999
- Biogen Idec Inc
- BioInvent International AB
- 14th March 2002
- July 2006
- Crucell NV and DSM Biologics
- ImClone Systems Inc
- Immunomedics Inc
- Lonza Biologics Ltd
- 14th July 2003
- 13th May 2005
- Merck & Co
- Nektar Therapeutics
- Orphan Medical
- 30th October 2003
- 21st March 2005
- 3rd October 2006
- Pfizer
- 23rd July 2002
- Discontinued agreement
- Recordati
- sanofi-aventis
- Sepracor Inc
- 1st June 1999
- 23rd February 2006
- Verus Pharmaceuticals Inc
- Watson Pharmaceuticals Inc
- APPENDIX 3 - INFRASTRUCTURE
- Research and Development Facilities
- Manufacturing Facilities
- APPENDIX 4 - KEY PHARMACEUTICAL
- SUBSIDIARIES / JOINT VENTURES
- Subsidiaries
- Joint Ventures
- APPENDIX 5 - PRODUCT INDEX
Index of Tables
- Principal Operating Results
- Operating Profit By Business Segment
- Investments By Business Area
- R&D Expenditure By Business Area
- Consolidated Turnover By Business Area
- Total Revenues By Geographic Area
- Net Biopharmaceutical Sales By Geographical Area
- Employees By Geographical Area (Year End)
- Recent Product Launches
- Recent Product Approvals
- Key R&D Projects
- Sales Of Major Biopharmaceutical Products
- R&D Pipeline
- Major Launched Products
- Major Launched Products
- Major Launched Products
Index of Charts
- Sales, Costs and Operating Income
- Operating Profit By Business Segment
- Investments By Business Area
- R&D Expenditure By Business Area
- Consolidated Turnover By Business Area
- Total Revenues By Geographic Area. 2005
- Net Biopharmaceutical Sales By Geographical Area, 2005
- Employees By Geographical Area (Year End), 2005
- Sales of Current Top Ten Products (2000A-2010E)
- Top Selling Products, 2005
- Xyzal Sales (2000A-2010E)
- Zyrtec Sales (2000A-2010E)
- Atarax Sales (2000A-2010E)
- Keppra Sales (2000A-2010E)
- Metadate Sales (2000A-2010E)
- Nootropil Sales (2000A-2010E)
- Stogar (2000A-2010E)
- Bup-4 Sales (2000A-2010E)
- Lortab Sales (2000A-2010E)
- Tussionex Sales (2000A-2010E)
- Sales, Costs and Operating Income
- Profitability and Research Ratios
- R&D Expenditure and Capital Expenditure
- Current Assets, Liabilities and Ratio
- Assets, Cash and Liquidity
- Employees and Productivity
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