Earnings PotentialThere is scarcity value for UCB, given very few companies with clear visibility into the value drivers for the next few years, with accelerating and durable earnings potential.
Product LaunchThe Bimzelx launch continues to outperform, driven by strong patient adoption in multiple conditions and improved formulary positioning.
Sales PerformanceBimzelx H2 sales reached €393MM, with US contribution significantly above consensus, indicating strong market performance.