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Investing.com -- Shares of UCB (EBR:UCB) rose more than 5% on Thursday after the drugmaker reported better-than-expected first-half results, lifted by strong U.S. sales of Bimzelx, and raised its 2025 guidance.
Revenue for the six months ended June 30 rose 25% year-over-year to €3.49 billion, exceeding the Visible Alpha consensus of €3.22 billion by 8%.
Net sales totaled €3.32 billion, up from €2.64 billion in the year-ago period. Adjusted EBITDA rose 58% to €1.03 billion, 11% ahead of consensus, with a margin of 29.6%. Core earnings per share were €3.53, in line with estimates.
The beat was driven by Bimzelx, which posted global sales of €799 million, compared with €215 million a year earlier. U.S. sales came in at €545 million, 53% above expectations.
Psoriasis accounted for 61% of total Bimzelx sales. The company did not disclose the paid-to-bridge ratio but noted higher levels of paid prescriptions.
Cimzia brought in €959 million in revenue, up from €936 million and 2% above consensus.
Among neurology drugs, Briviact generated €377 million, a 2% beat, while Keppra and Vimpat recorded €309 million and €172 million, respectively.
Fintepla and Rystiggo missed expectations, while Zilbrysq exceeded forecasts with €93 million in sales, 26% above consensus.
Total (EPA:TTEF) operating costs rose, with selling, general and administrative expenses climbing 20% to €1.28 billion, largely due to direct-to-consumer advertising for Bimzelx and investments in newer products.
Research and development spending increased to €860 million from €789 million. Adjusted EBIT stood at €720 million, 11% above consensus.
Following the first-half results, UCB raised its full-year revenue forecast to above €7 billion from €6.7 billion.
The new outlook remains slightly above the €6.73 billion consensus. The company now expects an adjusted EBITDA margin of 30% and core EPS above €7.25, compared with analyst expectations of €7.12.
Jefferies analysts described the updated guidance as cautious relative to the strong first-half performance, citing competitive uncertainties and recent commentary from Novartis (SIX:NOVN) about the hidradenitis suppurativa market.