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Lakeisha, living with epilepsy
Progressing to becomea patient-centric global biopharmaleader
2009 Financial ResultsLondon, March 2, 2010
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2010
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Disclaimer and safe harbour
Forward-looking statements:
This presentation includes “forward-looking statements” relating to UCB group of companies (“UCB”) that are subject to known and unknown risks and uncertainties, many of which are outside of UCB’s control and are difficult to predict, that may cause actual results to differ materially from any future results expressed or implied from the forward-looking statements. In this presentation, the words “anticipates,” “believes,”“estimates,” “seeks,” “expects,” “plans,” “intends” and similar expressions, as they relate to UCB, are intended to identify forward-looking statements. Important factors that could cause actual results to differ materially from such expectations include, without limitation: the inability to obtain necessary regulatory approvals or to obtain them on acceptable terms; the economic environment of the industries in which UCB operates; costs associated with research and development; changes in the prospects for products in the pipeline or under development by UCB; dependence on the existing management of UCB; changes or uncertainties in tax laws or the administration of such laws; changes or uncertainties in the laws or regulations applicable to the markets in which UCB operates. All written and oral forward-looking statements attributable to UCB or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements above. UCB does not intend, or undertake any obligation, to update these forward-looking statements.
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2010
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UCB vision
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2010
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Agenda
Solid foundation for sustainable growth
• Roch Doliveux, CEO
Core products performance
• Mark McDade, COO
Financial performance
• Detlef Thielgen, CFO
Development
• Iris Loew-Friedrich, CMO
Conclusion
• Roch Doliveux, CEO
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2010
555
2009 – a turning pointDelivery and execution
UCB is strengthening its position as a Patient-Centric global biopharmaceutical leader
• Major regulatory milestones achieved
• 3+1 product launches
• Organisation transformed through SHAPE initiative
• Debt re-financed
• UCB enters growth phase
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2010
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Ismail KolaExecutive VP, UCB. President UCB NewMedicines™
Highly accomplished scientist
• Track record of success in academia and the biopharma field
• Former CSO of Schering Plough Corporation
• Strong research and development background
• Led groups that brought drugs successfully to the market
• Solid track record in overseeing partnerships and financial transactions
• Authored 159 Scientific Publications in Scientific and Medical Journals of the Highest Calibre
• Named inventor on 12 patents and under his leadership 5 drugs have come to the market
Committed to lead UCB NewMedicines™ into a leading edge discovery and POC engine
Will move this organisation beyond its current achievements to deliver UCB’s breakthrough phase
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2010
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Cimzia®, Vimpat®, Neupro®
performance
Mark McDade,
Chief Operating Officer
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2010
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2009 – a turning pointDelivering 4 new medicines for patients with severe diseases
Rheumatoid arthritis
Launched in the U.S. (May 2009)Launched in Europe (October 2009)
Epilepsy adjunctive therapy
Launched in the U.S. (June 2009)
Restless legs syndrome
Launched in Europe (June 2009)
Overactive bladder
Launched in the U.S. (April 2009) –licensed to Pfizer
Toviaz®
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2010
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Epilepsy—a major CNS disease
2007 2017
USEUJapan
Prevalence (2008) ≈ 6.1 million patients in 7 major markets1
Market size (2007) ≈ $ 3.8 billion in 7 major markets2
Source: 1Decision Resource & 2Datamonitor, Commercial insight3Compound Annual Growth Rate
CAGR3 ≈
3.9%
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2010
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Keppra® franchiseExtending market leadership in Europe
Keppra® loss of exclusivity in the U.S. November 2008
Sustained growth outside the U.S., generated by use in monotherapy
Keppra® filed for adjunctive therapy in epilepsy in Japan end of 2008
• Older generation AEDs lead the market in Japan
• Only three new generation AEDs approved starting in 2006
• Industry average approval time in Japan is at least 20 months
€ million FY 2009 net sales
Actual CER
North America 320 -58% -60%
Europe 545 25% 28%
Rest of World 48 -21% -17%
Total 913 -28% -28%
AED: anti-epileptic drug
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2010
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Vimpat® in epilepsy An important new treatment option in refractory epilepsy
A new treatment option in add-on for Partial Onset Seizures (POS)
Efficacy when added to a broad range of 1st and 2nd generation AEDs
No drug-drug interactions; multiple formulations
More than 46 000 patients on Vimpat® worldwide (December 2009)
U.S. launched in June 2009
Europe first launch in September 2008
• Launched in four major European countries: France, Germany, Spain, U.K.
• Also available in 10 EU mid-markets1
1. Austria, Denmark, Greece, Ireland, Finland, Netherlands, Norway, Slovak Republic, Sweden, Switzerland
€ million FY 2009 net sales
FY 2008 net sales
U.S. 30 0
Europe 16 2
Total 46 2
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2010
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Vimpat® in epilepsy Successful launch in the AED market in the U.S.
0
5,000
10,000
15,000
20,000
Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09
# o
f T
Rx
an
d N
Rx
NRx TRx
Source: IMS National Prescription Audit (NPA)
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2010
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Vimpat® in epilepsy Growing rapidly in Europe
0,0%
0,2%
0,4%
0,6%
0,8%
1,0%
1,2%
1,4%
1,6%
1,8%
2,0%
2,2%
2,4%
M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12 M13 M14 M15 M16
Germany (M1=Sept 08)UK (M1=Sept 08)France (M1= Oct 09)Spain (M1 = Oct 09)
Vimpat® Treatment Days Shares among New AED*,Monthly evolution since Vimpat launch, up to Dec 09
Source: IMS retail Dec 09, UCB calculationsTDX factorized to reflect prescription usage and average daily dose in Epilepsy
*New AEDs:Levetiracetam, Topiramate, Lamotrigine, Zonisamide, Rufinamide, Pregabalin, Oxcarbazepine, Gabapentin, Lacosamide, Eslicarbazepine
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UCB in epilepsy Trusted leadership aided by new launches
When asked which company has best reputation in epilepsy/seizuredisorders (unaided) - All Neurologists (U.S.)
9%
18%
28%
36%
39%
19%
10%
19%
11%
18%
6%4%
16%
10% 9%
4%
8%9%
7%
12.40%
6% 6%7%
3%1%
12%10%
7%9%
5%5% 5%6%
3%4%
2%0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Wave 2 of Previous ATU(n=106)
Wave 3 of Previous ATU(n=100)
August 2008 (n=150) June 2009 (n=151) January 2010 (n=201)
UCB GlaxoSmithKlineAbbott LaboratoriesPfizerOrtho McNeilNovartisDon't knowNone
(49%, 33%)
Indicates significant difference from previous wave at 90% interval. Compares only Champions of both waves. (%) indicates current wave’s Champion results.
(%,%) indicates statistical difference between Champions and Non-Champions; %’s are listed as (Champions, Non-Champions).
Please note sample differences between waves: W1: target list with Champions / Non-Champions undefined; W2: Champions only; W3: both Champions and Non-Champions.
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Parkinson’s disease (PD)
2008 2018
USEUJapan
Prevalence (2008) ≈ 3.1 million patients in 7 major markets1
Market size (2008) ≈ $ 2.1 billion in 7 major markets2
Source: 1Decision Resource & 2Datamonitor, Commercial insight3Compound Annual Growth Rate
CAGR3 ≈
2.6%
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2010
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Restless legs syndrome (RLS)
Prevalence (2008) ≈ 54 million patients in 7 major markets1
Market size (2007) ≈ $ 588 million in 7 major markets2
2007 2017
USEU
Source: 1Decision Resource & 2Datamonitor3Compound Annual Growth Rate
CAGR
3 ≈ 7%
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Neupro®
Rotigotine transdermal patch
Neupro®, the Parkinson's patch - 24h continuous delivery
• Continuous delivery to provide stable drug levels
• Improving daily functioning, sleep and early morning functions
Neupro®, the new treatment option for RLS
• Short- and long-term efficacy
• Improvement and sustained relief
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Neupro® - rotigotine transdermal patchContinued launch roll-out in Europe
Neupro® “New Patient” launch in Europe (June 2009)
• Newly-launched for PD in Germany, Italy, Spain, U.K. and 15 other markets1
• Launched for RLS in U.K., Germany, Austria and Ireland
• More than 53 000 Parkinson patients being treated with Neupro® in Europe at the
end of 2009
Working to make it available for patients in the U.S.
• Subject to FDA approval of the cold-chain storage and distribution system, our aim
is to make Neupro® available to U.S patients during 2010
1. Austria, Czech Republic, Denmark, Finland, Greece, Ireland, Netherlands, Norway, Poland, Slovak Republic,
Sweden, Switzerland, Iceland, Australia, Hong-Kong
€ million FY 2009 net sales
FY 2008 net sales
U.S. 0 5
Europe 61 53
Total 61 58
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Neupro® - EU4 (excluding France)Monthly launch curves by country
Neupro® Treatment Days Shares among Dopamine Agonists*,Monthly evolution since Neupro launch, up to Dec 09
Source: IMS retail, UCB calculations*Market Def. Dopamine Agonists = ropinirole (Requip IR, IR, Generics), cabergoline (Cabaser & Generics), pramipexole , rotigotine + Bromocriptine, Lisuride, Pergolide, Piribedil
TDX factorized to reflect prescription usage and average daily dose in Parkinson Disease
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
M1 M4 M7 M10 M13 M16 M19 M22 M25 M28 M31 M34 M37 M40 M43 M46
Germany (M1=Mar-06) Italy (M1=Jul-09) Spain (M1=Jan-07) UK (M1=Apr-06)
Italy:
Best launch
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Crohn’s disease (CD)
2007 2017
USEUJapan
Prevalence (2008) ≈ 1.0 million patients in 7 major markets1
Market size (2007) ≈ $ 1.5 billion in 7 major markets1
Source: 1Decision Resource Pharmacor, Crohn’s Disease, Dec 20092Compound Annual Growth Rate
CAGR3 ≈
3.5%
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2010
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Rheumatoid arthritis (RA) – Anti-TNF market
2008 2018
USEUJapan
Prevalence (2008) ≈ 5 million patients in 7 major markets1
Market size (2008) ≈ $ 6.6 billion in 7 major markets
Source: 1Decision Resource2Compound Annual Growth Rate
CAGR3 ≈ 1.6%
2 March
2010Fusion Protein
(Human recombinantreceptor/Fc)
FcIgG1
Receptor
Constant 2
Constant 3
Etanercept
Chimericmonoclonal
antibody
Human monoclonal
antibody
Infliximab Adalimumab
FcIgG1
HumanisedFab′ fragmentw/o Fc region
Certolizumab pegol
Adapted with permission from Hanauer SB. Rev Gastroenterol Disord. 2004;4(suppl 3):S18-S24.
Murine component
Human component
Cimzia® – the only PEGylated anti-TNF Unique structure, unique product benefits
Unlike the other anti-TNF treatments, Cimzia® is a pegylated FAB with no FC region
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Cimzia®
Unique syringe designed with RA patients for RA patients
Easy to grip wide flare
Easy to removeneedle cover
Easy to push syringe plunger
Easy to grip elleptical barrel – easy to read syringe barrel
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Cimzia® roll-out in U.S.Steady build of a chronic therapy
More than 9 200 patients on Cimzia® at end of December 2009
Crohn’s disease in the U.S.
• Unique long term remission data1 with no dose escalation is key driver
Rheumatoid arthritis in the U.S.
• High ‘reach and frequency’ with high prescribing rheumatologists
• Fast and lasting improvements in all patient reported outcomes
• 2 product formulations offering physicians and patients a choice
1 Sandborn et al. Am J Gastroenterology 2008; 103 (Suppl 1): S429
€ million FY 2009 net sales
FY 2008 net sales
U.S. 70 8
Europe 5 2
Total 75 10
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Source: IMS National Prescription Audit (NPA) Dec 09
Cimzia® for Crohn's diseaseU.S. growth demonstrates arrival of important new option
Monthly prescriptions
IMS changed their projection methodology
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09
# o
f TR
x a
nd
NR
x
TRx NRx
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Cimzia® in rheumatoid arthritis Roll-out in U.S.: gaining use even in an entrenched marketplace
Source: IMS National Prescription Audit (NPA) Dec 09
0
500
1,000
1,500
2,000
2,500
May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09
# o
f T
Rx
an
d N
Rx
TRx NRx
Monthly prescriptions
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Cimzia®, Vimpat® and Neupro®
Highly innovative drivers of growth
The only PEGylated anti-TNF
Efficacy when added to a broad range of AEDs
24h continuous delivery by transdermal patch
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2009 financial performance
Detlef Thielgen, CFO
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FY 2009 Financial highlights
Revenue of € 3.1 billion (-13%)
• Impact of generic competition to Keppra® in the U.S. and divestitures
• Good performance of the new core products and of Keppra® in EU
Total operating expenses decreased by 15%
Recurring EBITDA of € 698 million (-5%)
Net profit1 increased to € 513 million (vs € 42 million in 2008)
Adjusted2 net profit € 226 million (-16%)
1 After minority interest 2 Adjusted for after-tax impact of non-recurring items, contribution from discontinued operations
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Recurring EBITDA
€ million
Actual Variance
FY 2009 FY 2008 Actual CER
Revenue 3 116 3 601 -13% -14%
Net sales 2 683 3 027 -11% -12%
Royalty income & fees 227 396 -43% -39%
Other revenue 206 178 15% 13%
Gross profit 2 091 2 455 -15% -16%
Marketing & selling expenses - 781 - 928 -16% -18%
R&D expenses - 674 - 767 -12% -11%
G&A expenses - 189 - 227 -17% -15%
Other operating income 6 - 1
Total operating expenses - 1 638 - 1 924 -15% -15%
Recurring EBIT 453 531 -15% -17%
Amortisation of intangible assets 142 105
Depreciation charges 102 97
Recurring EBITDA 698 733 -5% -6%
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FY 2009Net sales of core and major other products
€ million FY 2009net sales
Change
Actual CER
Core productsCimzia® 75
Vimpat® 46
Neupro® 61 5% 7%
Other productsKeppra® (incl. Keppra®XR) 913 -28% -28%
Zyrtec® (incl. D/Cirrus®) 268 8% 1%
Tussionex™ 147 0% -5%
Xyzal® 1 132 -23% -22%
venlafaxine XR 109 - -
Metadate™ CD / Equasym™ XL 2 72 -6% -10%
Total net sales 2 683 -11% -12%
1 Excluding Xyzal® U.S. revenue to UCB of € 47 million from profit-sharing with sanofi-aventis2 € 3 million sales from Equasym™ XL in Europe and Rest of World before closing of the sale to
Shire early 2009
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2010
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Royalty income & fees and Other revenue
€ million
Actual Variance
FY 2009 FY 2008 Actual CER
Biotechnology IP 116 318 -63% -60%
Toviaz® 41 5
Zyrtec® U.S. 23 30 -22% -26%
Other 48 43 9% 4%
Royalty income & fees 227 396 -43% -39%
Contract manufacturing sales 94 42 125% 119%
Xyzal® U.S. profit sharing 47 39 19% 13%
Provas™ profit sharing 26 23 11% 11%
Otsuka 26 20 29% 36%
Fesoterodine milestones 0 24
Other 14 30 -40% -40%
Other revenue 206 178 15% 13%
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2010
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Gross profit
€ million
Actual Variance
FY 2009 FY 2008 Actual CER
Cost of sales - 1 025 - 1 146 -11% -11%
Cost of sales products & services - 769 - 847 -9% -9%
Royalty expenses - 128 - 205 -37% -37%
Amortisation of intangible assets linked to sales
- 128 - 95 35% 36%
Gross profit 2 091 2 455 -15% -16%
of which
Products & services 2 119 2 358 -10% -11%
Net royalty income 100 191 -48% -42%
Amortisation of intangible assets linked to sales
- 128 - 95 35% 36%
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FY 2009 REBITDA development
€ million
733698
Gross Profit Mix
FX
Keppra® U.S.
Re
curr
ing
EB
ITD
A 2
00
8 r
ep
ort
ed
Re
curr
ing
EB
ITD
A 2
00
9 r
ep
ort
ed
CVNadditional
investments
Shape and other expenses reduction
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2010
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Net profit
1 After minority interest 2 Adjusted for after-tax impact of one-time and non-recurring items
€ millionActual Variance
FY 2009 FY 2008 Actual CER
Recurring EBIT 453 531 -15% -17%
Impairment charges - 126 - 160 n.s. n.s.
Restructuring expenses - 73 - 272 n.s. n.s.
Gain on disposals 594 0 n.s. n.s.
Other non recurring income/expenses (-) - 11 14 n.s. n.s.
Total non recurring income /expenses (-) 384 - 418 n.s. n.s.
EBIT 837 113 639% 614%
Net financial expenses - 162 - 156 4% 4%
Income tax (expense)/credit - 168 30 n.s. n.s.
Profit from continuing operations 507 - 12 n.s. n.s.
Net profit1 513 42 n.s. n.s.
Adjusted net profit2 226 270 -16% -18%
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2010
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Core EPS
€ millionActual
FY 2009 FY 2008
Net Profit 513 42
+ after-tax non-recurring items & financial one-offs
-298 339
- profit from discontinued operation -7 -55
+ Tax one-offs 17 -56
Adusted net profit1 226 270
+ Amortisation of intangibles 127 94
- Taxes on amortization of intangibles -39 -29
Core net profit 314 335
Weighted average number of shares (basic) 180 180
Core EPS (€) 1.74 1.86
1 Adjusted for after-tax impact of one-time and non-recurring items
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2010
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Summary financials
Cash Flow Summary
Balance Sheet Summary
€ million FY 2009 FY 2008
Net profit (after minority interest) 513 42
Cash flow from operating activities 295 366
Cash flow from investing activities 473 - 673
Cash flow from financing activities - 736 278
Change in cash and cash equivalents 32 - 10
€ million Dec 2009 Dec 2008
Non current assets 7 326 7 687
Current assets 1 794 1 837
Total assets 9 120 9 524
Shareholders’ equity 4 417 4 017
Non current liabilities 2 641 2 953
Current liabilities 2 062 2 554
Total liabilities and shareholder's equity 9 120 9 524
2 March
2010
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Debt re-financing completedDiversified lender base and improved maturity profile
New debt profile
• € 750 million 5.75% Belgian retail bonds, due November 2014
• € 500 million 4.5% convertible bonds, due October 2015
• € 500 million 5.75% institutional bonds, due December 2016
• € 1.5 billion revolving credit facility (3 years + 1 year renewal option)
Old € 3.3 billion credit facility closed and debt paid down
Debt maturity profile aligned to expected cash flow generation
€ million 31 Dec 2009 31 Dec 2008
Net debt - 1 752 - 2 443
Liquid assets 491 470
Financial debt - 2 243 - 2 913
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2010
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Maturity Profile after Refinancing
0
500
1000
1500
2000
2500
2009 2010 2011 2012 2013 2014 2015 2016
EUR
Gro
ss D
ebt *
mio
New capital structure and debt maturity
New Facility
Retail Bond
EUR Bond
ConvertOld
Debt
Refinancing
Maturity Profile before Refinancing
0
500
1000
1500
2000
2500
2009 2010 2011 2012 2013 2014 2015 2016
EUR
Gro
ss D
ebt *
mio
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2010
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2010 financial outlook
Revenue expected to reach approximately € 3.0 billion
Recurring EBITDA is expected to end the year around € 700 million
Core EPS1 expected to reach approximately € 1.76 versus € 1.74 in 2009
1 based on 180 million non-diluted number of shares
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2010
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Development
Iris Loew-Friedrich,
Chief Medical Officer
Executive Vice-President
Global Projects & Development
2 March
2010
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2009 – a turning pointRegulatory and development delivery
Cimzia® in rheumatoid arthritis U.S. approval & launch
Cimzia® in rheumatoid arthritis EU approval & launch
Brivaracetam in epilepsy Phase III top line results
CDP323 in multiple sclerosis No go decision
Keppra® in epilepsy1 EU: CHMP positive opinion
Neupro® in Parkinson’s disease Lift of restrictions - back to all
patients in Europe
Neupro® in restless legs syndrome Launch in Europe
Vimpat® in epilepsy2 U.S. launch
Epratuzumab in lupus (SLE) Phase IIb top-line results
Xyrem® in fibromyalgia3 Second Phase III top-line
results
Vimpat® has been designated as a Schedule V controlled substance by U.S. regulators. 1 Adjunctive therapy in epilepsy for children aged from one month to under four years
2 Adjunctive therapy in epilepsy3 license rights to Xyrem exclude US
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2010
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Update on clinical development
Brivaracetam in epilepsy: further Phase III study
Epratuzumab in SLE: Phase III study to start in 2010
CDP7851 in bone loss disorders: Phase II studies ongoing
• Post-menopausal osteoporosis (PMO)
• Fracture healing
Keppra® XR monotherapy: positive Phase III trial results
• Confidence strengthened in withdrawal to monotherapy design also used for
Vimpat® monotherapy trial
Xyrem® fibromyalgia: strong Phase III data
• No prescription medicines approved yet for fibromyalgia in Europe
• Update on next steps once our discussions with EMA are finalised
2 March
2010
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The early pipeline starts to strengthenThree exciting compounds moved into Phase I
CDP6038 (Anti-IL 6) – Autoimmune diseases
• Phase I ongoing
• Potential for immunology indications including rheumatoid arthritis
MEK inhibitor (WX544) – Oncology
• The first of our oncology molecules being developed by Wilex as part of
strategic alliance with UCB
• WX544 moved into Phase I in November 2009
UCB2892 (H3 antagonist) - CNS
• Moved into Phase I
• Potential for cognitive disorder indications
2 March
2010
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Neupro®
Working to make it available for patients in the U.S.
Deviation from approved product specification
Product recall (March 2008) - Out-of-stock situation
FDA Complete Response Letter (December 2008)
• “Substantial evidence of effectiveness in advanced Parkinson’s disease and restless legs syndrome (RLS)”
Extensive update on Neupro® and cold chain data submitted to the FDA in June 2009
Dialogue with the FDA continues
Subject to FDA approval of the cold-chain storage and distribution system, our aim is to make Neupro®
available to U.S patients during 2010
Phase I Phase II Phase III Filed Approved Launched
Neupro® (rotigotine) Early stage Parkinson's disease (U.S.)
March 2005
May 2007
July2007
Neupro® (rotigotine) Advanced Parkinson's disease (U.S.) December 2007
Neupro® (rotigotine) Restless legs syndrome (U.S.) December 2007
Terry, living with Parkinson’s disease
2 March
2010
46
Brivaracetam in epilepsyPhase III programme to continue
High unmet medical need
Committed to bring brivaracetam to patients
Phase III: One study met its primary efficacy endpoint
Further Phase III trial to start H2 2010
• Adjunctive therapy in partial onset seizures
• Higher dosing ranges
• Improved selection incl. regions and sites
• Refractory patients
Phase I Phase II Phase III Filed Approved Launched
Brivaracetam Epilepsy - adjunctive therapy
Raffaele, living with epilepsy
2 March
2010
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Vimpat® in epilepsyIncreasing patient access
Monotherapy in the treatment of partial-onset seizures (POS)
• Phase III trial in the U.S. ongoing• Headline results expected Q2 2013
Paediatric (2-17 yr) development in partial-onset seizures
• Phase II in the U.S. started
Epilepsy adjunctive therapy for primary generalised tonic-clonic seizures (PGTC)
• Phase II to be initiated in Q2 2010
Phase I Phase II Phase III Filed Approved Launched
Vimpat® (lacosamide) Epilepsy – monotherapy (U.S.) ResultsQ2 2013
Vimpat® (lacosamide) Epilepsy – adjunctive therapy1 Results Q4 2010
Vimpat® (lacosamide) Epilepsy – adjunctive therapy PGTC
1 Paediatric (2-17 years)
Lakeisha, living with epilepsy
2 March
2010
48
Cimzia® in further arthritis indicationsIncreasing patient access
Psoriatic arthritis (PsA)
• Phase III trials ongoing
• 2 active arms: monthly (400 mg) and every two week (200 mg) dosing
• Time-frame: 24 + 48 weeks
• First key results expected Q4 2011
Ankylosing spondylitis (AS)
• Phase III trials ongoing
• 2 active arms: monthly (400 mg) and every two week (200 mg) dosing
• Time-frame: 24 weeks
• Key results expected Q4 2011
Phase I Phase II Phase III Filed Approved Launched
Cimzia® (certolizumab pegol) Ankylosing spondylitis (AS) ResultsQ4 2011
Cimzia® (certolizumab pegol) Psoriatic arthritis (PsA) ResultsQ4 2011
Amye, living with rheumatoid arthritis
2 March
2010
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Juvenile rheumatoid arthritis (RA)
• Clinical study start scheduled H2 2010
• Phase III study in children
Rheumatoid arthritis (Japan)
• 2 Phase III studies ongoing:
• Monotherapy and combination with MTX
• Three active arms (100, 200, 400mg), every two week dosing
• Time frame: 24 weeks
• Results expected Q3 2011
Alison, living with rheumatoid arthritis
Phase I Phase II Phase III Filed Approved Launched
Cimzia (certolizumab pegol) Juvenile rheumatoid arthritis Phase III start H2 2010
Cimzia (certolizumab pegol) Rheumatoid arthritis (Japan) ResultsQ3 2011
Cimzia® in further arthritis indicationsIncreasing patient access
2 March
2010
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Epratuzumab in SLE: positive Phase IIb resultsClinically meaningful treatment effect
"EMBLEM"
• Phase IIb 12-week dose and regime-ranging study
• 227 patients with moderately (30%) and severely (70%) active disease in multiple organ systems in 6 arms, total dose range from 200 – 3 600 mg/cycle
• Primary efficacy variable: Combined Index Response rate at week 12: treatment advantage over placebo reached 24.9%
• Including BILAG: British Isles Lupus Assessment Group, a comprehensive scoring system for assessing both current SLE disease activity and changes in that activity since patient was last seen
• E-mab was well tolerated with an incidence of serious adverse events and infusion reactions similar to placebo
Phase IIb data abstracts accepted for World Lupus Congress (24-27 June 2010), Phase IIb data presentation expected at other upcoming rheumatology meetings
2 March
2010
51
Epratuzumab in systemic lupus erythematosus (SLE)Phase III to start
Phase III program to start in H2 2010
• Subject to confirmation by ongoing discussions with regulatory authorities
• Two confirmatory efficacy randomized placebo-controlled studies
• Embody 1
• Embody 2
Phase I Phase II Phase III Filed Approved Launched
epratuzumab Systemic lupus erythematosus (SLE) To start H2 2010
Bernadette, living with lupus
2 March
2010
52
CDP7851 in bone loss disorders Novel therapy with strong potential
Development of novel anabolic therapy
• Antibody to sclerostin potentially treating bone loss disorders, incl. osteoporosis
Collaborative project with Amgen
Phase II ongoing
• Phase II study in post-menopausal osteoporosis (PMO)
• Estimated enrolment: 400 post-menopausal women with low bone mineral density, time-frame:12 months
• Phase II study in fracture healing
• Estimated enrolment: 400 patients, time-frame: 52 weeks
• Key results expected in 2012
Normal Sclerosteosis
Study of naturally occurring human disorder leads to a potential new drug therapy
Phase I Phase II Phase III Filed Approved Launched
CDP7851 (anti-sclerostin) Fracture healing Results 2012
CDP7851 (anti-sclerostin) Post-menopausal osteoporosis Results 2012
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Development pipelineMajor projects
1 Complete Response Letter2 Paediatric (2-17 years)
CNS Phase I Phase II Phase III Regulatory status
Keppra® (levetiracetam) Epilepsy – adjunctive therapy (Japan) FiledNovember 2008
Neupro® (rotigotine) Advanced Parkinson's disease (U.S.) CRL1
December 2008
Neupro® (rotigotine) Restless legs syndrome (U.S.) CRL1
December 2008
Xyrem (sodium oxybate) Fibromyalgia
brivaracetam Epilepsy - adjunctive therapy New Phase III trial to start 2010
Vimpat® (lacosamide) Epilepsy – monotherapy (U.S.) Results expected Q2 2013
Vimpat® (lacosamide) Epilepsy – adjunctive therapy2 Results expectedQ4 2010
Vimpat® (lacosamide) Epilepsy – adjunctive therapy PGTC
UCB2892 H3 antagonist CNS
Immunology
Cimzia® (certolizumab pegol) Rheumatoid arthritis (Japan) Results expected Q3 2011
Cimzia® (certolizumab pegol) Ankylosing spondylitis Results expected Q4 2011
Cimzia® (certolizumab pegol) Psoriatic arthritis Results expected Q4 2011
Cimzia® (certolizumab pegol) Juvenile rheumatoid arthritis Phase III trial to start H2 2010
epratuzumab Systemic lupus erythematosus (SLE) Phase III trial to start in H2 2010
CDP7851 (anti-sclerostin) Fracture healing Results expected 2012
CDP7851 (anti-sclerostin) Post-menopausal osteoporosis Results expected 2012
CDP6038 (anti-IL 6) Autoimmune disease
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2010
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UCB's Sustainable Growth
Roch Doliveux, CEO
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2010
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UCB - delivering through innovation
Vision
• To become the Patient-Centric global biopharmaceutical leader
• To provide breakthrough innovation for patients suffering from severe diseases
Turning point achieved
• Approvals and other regulatory and development milestones
• Launches of our three core products
• Adaptation of the organization and financing of the company
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2010
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UCB's Sustainable GrowthCimzia®, Vimpat® and Neupro® trigger company growth
... and beyond
Realise the full commercial potential of Cimzia®, Vimpat®, Neupro®
Launch a new generation of therapies offering
breakthrough innovation to patients with severe disease
Company growth
Breakthrough
•Optimise mature base business
•Manage remaining loss of exclusivity
Cimzia®, Vimpat®, Neupro®
2010
lifecycle management first Breakthroughs
Intense growth
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2010
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UCB to deliver growthCimzia®, Vimpat® and Neupro® trigger company growth
Expected peak sales at least € 1.5 billion
• To be reached in the second half of this decade
• Including new indications and markets currently under development:
• Psoriatic arthritis (PsA)
• Ankylosing spondylitis (AS)
• Juvenile rheumatoid arthritis (RA)
• Rheumatoid arthritis (Japan)
• Ulcerative colitis (UC)
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2010
58
UCB to deliver growthCimzia®, Vimpat® and Neupro® trigger company growth
Expected peak sales at least € 1.2 billion• To be reached in the second half of this decade
• Including new indications currently under development:
• Monotherapy in the treatment of partial-onset seizures (POS)
• Paediatric (2-17 yr) development in partial-onset seizures
• Epilepsy adjunctive therapy for primary generalised tonic-clonic seizures (PGTC)
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2010
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UCB to deliver growthCimzia®, Vimpat® and Neupro® trigger company growth
Expected peak sales at least € 400m • To be reached in the second half of this decade
• Parkinson's disease • Europe, U.S. and other markets
• Restless legs syndrome• Europe, U.S. and other markets
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2010
6060
UCB - sustaining growth through innovation
New therapeutic options for patients in clinical development
• Brivaracetam – Epilepsy – adjunctive therapy
• Epratuzumab - Systematic lupus erythematosus
• CDP7851 - Post-menopausal osteoporosis
• CDP7851 - fracture healing
Preparing further sustainable growth beyond
• CDP6038 (anti-IL 6) – Autoimmune disease and UCB2892 H3 antagonist - CNS
• To research, develop and launch new generation of therapies offering breakthrough
innovation and patient solutions to people living with severe diseases
Strengthening the pipeline
• Strong commitment to best in class R&D innovation, talents and processes
• Internal and external sourcing
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2010
61
UCB's Sustainable GrowthCimzia®, Vimpat® and Neupro® trigger company growth
... and beyond
Realise the full commercial potential of Cimzia®, Vimpat®, Neupro®
Launch a new generation of therapies offering
breakthrough innovation to patients with severe disease
Company growth
Breakthrough
•Optimise mature base business
•Manage remaining loss of exclusivity
Cimzia®, Vimpat®, Neupro®
2010
lifecycle management first Breakthroughs
Intense growth
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2010
62
Appendix
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2010
63
Major milestones expected in 2010
epratuzumab in SLE
• Presentation of Phase IIb data at the World Lupus Congress June 2009
• Start of the Phase III trial programme 2010
brivaracetam in epilepsy
• Start of one additional Phase III trial H2 2010
Xyrem® for fibromyalgia
• Filling to the European authorities 2010
Vimpat® in epilepsy
• Start of Phase II trial in primary generalised tonic-clonic Q2 2010
Cimzia® in juvenile rheumatoid arthritis
• Start of Phase III trial H2 2010
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2010
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Corporate financial calendar2010
2009 annual report (online) by 31 March 2010
AGM + Interim update (three month report) 29 April 2010
2010 half-year financial results 2 August 2010
Interim update (nine month report) 21 October 2010
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2010
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FY 2009Net sales by geography
Europe47%
Rest of World13%
North America
40%
North America
35%
Europe 51%
Rest of World 14%
FY 2008 net sales
€ 3 027 million
FY 2009 net sales
€ 2 683 million
*
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2010
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FY 2009 Net sales by therapy area
FY 2008 net sales
€ 3 027 million
FY 2009 net sales
€ 2 683 million
*
CNS41%
Other41%
Immunology and allergy
18%
CNS47%
Other39%
Immunology and allergy
14%
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2010
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Shareholder structureStrong and stable shareholder base
UCB controlling and important shareholders as of 1 September 2009
Capital € 550 095 156
Shares 183 365 052
1 Financière de Tubize S.A. (Tubize) 36.20%
2 UCB Fipar S.A. 1.73%
3 UCB SCA 0.01%
4 Schwarz Vermögensverwaltung GmbH 5.39%
5 KBC Bank N.V. 1.25%
6 Banque Degroof S.A. 0.36%
7 Levimmo S.A. 0.67%
8 Compar Finance S.A.Compar Finance S.A. holds additionally 165 830 UCB shares outside the concert
1.04%
9 Pharmahold S.A.Pharmahold S.A. holds additionally 1 100 000 UCB shares outside the concert
1.04%
10 Cosylva S.A.Cosylva S.A. holds additionally 1 100 000 UCB shares outside the concert
1.04%
Tubize + linked companies + concert 4-10 on the total of shares held in concert
48.73%
11 Capital Research and Management Company
11.84%
______________________________Tubize has declared acting in concert separately with each of the
shareholders 4,5,6,7,8,9,10 for the number of shares as indicated.
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Your UCB Investor Relations Team
Antje Witte, Vice President Investor Relations
• Phone: +32 2 559 9414
• E-mail: antje.witte@ucb.com
Richard Simpson, Senior Director Investor Relations
• Phone: +32 2 559 9494
• E-mail: richard.simpson@ucb.com
Michael Tuck-Sherman, Investor Relations Manager
• Phone: +32 2 559 9712
• E-mail: michael.tuck-sherman@ucb.com
Isabelle Ghellynck, Investor Relations Project Manager
• Phone: +32 2 559 9588
• E-mail: isabelle.ghellynck@ucb.com