2010 full-year results 3 March 2011

Transcription

1 2010 full-year results 3 March 2011 Progressing to become the patient-centric global biopharma leader Alison, living with rheumatoid arthritis

2 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. 2

3 UCB: to be patient-centric global biopharma leader 3 Focus: Immunology and Central Nervous System R&D spend: 22% of revenue About patients treated with UCB s new core products Operations in more than 40 countries About employees globally Stephanie, living with rheumatoid arthritis 3

4 2010 financial highlights Revenue of million Strong Cimzia, Vimpat and Neupro 3% Strong Keppra sales in EU and venlafaxine XR in U.S. Underlying profitability (Recurring EBITDA) of 731 million 5% Core EPS of , above guidance 15% 1. based on 180 million shares outstanding 4

5 patients have now been treated An increase of 88% versus December 2009 UCB is becoming the Patient-Centric global biopharmaceutical leader Fast response for predictable outcomes patients prescribed Expected peak sales of at least 1.5 billion 1 When monotherapy is no longer enough patients prescribed Expected peak sales of at least 1.2 billion 1 24h continuous delivery by transdermal patch patients prescribed Expected peak sales of at least 400 million 1 1 to be reached in the second half of the decade 5

6 2010 information flow Welcome and introduction Roch Doliveux, CEO Major products performance in U.S. and Europe / Rest of the World Greg Duncan, President North America Operations Khoso Baluch, Sr. VP Global Marketing & Access Financial performance Detlef Thielgen, CFO Advancing the pipeline Iris Loew-Friedrich, CMO UCB NewMedicines Ismail Kola, CSO Conclusion Roch Doliveux, CEO 6

7 U.S. Business Greg Duncan, President North America Operations Brett, living with crohn s disease

8 Cimzia -U.S. Fast response for predictable outcomes Net sales increased by 137% million North America 2010 net sales net sales 70 ~ patients on Cimzia Crohn s disease - For naïve or bio-experienced patients Fast Results after just 1 dose Stable & Sustainable Long-term remission with no dose escalation Over prescribers approximately 50% of target Rheumatoid arthritis - Fast response for predictable outcomes Fast response with Cimzia means The opportunity to make an informed treatment decision within 12 weeks Over prescribers approximately 50% of target 8

9 Cimzia provides a fast response for results that last 1 The degree and speed of response with Cimzia was highly predictive of outcomes at 52 weeks 3 Available data suggest that a clinical response is usually achieved within the first 12 weeks of CIMZIA treatment 2 Predicting response at week 12 can improve therapeutic benefit by making an early treatment decision possible and avoiding unnecessary costs and safety exposure 4 RAPID 1 was a 52-week, multicenter, randomized, double-blind, placebo-controlled study in 982 patients with active RA receiving CIMZIA 200 mg (n=393), CIMZIA 400 mg (n=390), or placebo (n=199) every 2 weeks + weekly methotrexate (MTX) after an initial starting dose of CIMZIA 400 mg at weeks 0, 2, and 4. The co-primary end points were ACR20 score at week 24 and change in mtss at week Similar results were seen in RAPID 2. The best-fit curve above represents the probability of LDA at week 52 in patients who do not achieve a DAS28 response 1.2 at the given time point. RAPID 1 was a 52-week, multicenter, randomized, double-blind, placebo-controlled study in 982 patients with active RA receiving CIMZIA 200 mg (n=393), CIMZIA 400 mg (n=390), or placebo (n=199) every 2 weeks + weekly methotrexate (MTX) after an initial starting dose of CIMZIA 400 mg at weeks 0, 2, and 4. The co-primary end points were ACR20 score at week 24 and change in mtss at week Similar results were seen in RAPID 2. * Not all patients may have responded at each time point. 1. Keystone E, van der Heijde D, Mason D Jr, et al. Certolizumab pegol plus methotrexate is significantly more effective than placebo plus methotrexate in active rheumatoid arthritis. Arthritis Rheum. 2008;58: CIMZIA [summary of product characteristics]. Bruxelles, Belgium: UCB Pharma, S.A.; Data on file. UCB, Inc; Smyrna, GA. 4. Aletaha D, Funovits J, Keystone EC, Smolen JS. Disease activity early in the course of treatment predicts response to therapy after one year in rheumatoid arthritis patients. Arthritis Rheum. 2007:56:

10 Cimzia main message is unique and motivating Rheums who recall the 12 week message (unaided) rate the CIMZIA message significantly higher on unique and different and highest on motivation to prescribe Motivation to Prescribe Product Uniqueness and Difference of Product Cimzia : Onset of Action** within 12 weeks (sub-subnet) (n=47) 5.32 Cimzia : Onset of Action** within 12 weeks (sub-subnet) (n=47) 5.51 Humira (n=49) 4.88 Actemra (n=50) 5.22 Actemra (n=50) 4.86 Simponi (n=50) 4.70 Simponi (n=50) 4.58 Cimzia : (Other messages) (n=111) 4.68 Cimzia (other messages) (n=111) 4.56 Humira (n=49) 4.55 Enbrel (n=50) 4.54 Orencia (n=49) 4.39 Remicade (n=50) 4.42 Enbrel (n=50) 4.38 Orencia (n=49) 4.41 Remicade (n=50) Mean Rating Mean Rating **Onset of Action is made up of codes: three month/twelve week free trial, ability to make an informed treatment decision in 12 weeks and rapid onset of action within 12 weeks. 10

11 Cimzia in rheumatoid arthritis U.S. Gaining use even in an entrenched marketplace Cimzia RA indexed vs Total Market: 240 RA Indexed Monthly Rx Jan 10 Feb 10 Mar 10 Apr 10 May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Dec 10 Cimzia Nrx Cimzia Trx Total Market Nrx Total Market Trx NRx = New prescriptions / TRx = Total prescriptions Source: IMS National Prescription Audit (NPA) 11

12 Cimzia for Crohn's disease - U.S. An important new option for U.S. patients Cimzia CD indexed vs Total Market: 160 CD Indexed Monthly Rx Jan 10 Feb 10 Mar 10 Apr 10 Cimzia Nrx Cimzia Trx May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Total Market Nrx Total Market Trx Dec 10 NRx = New prescriptions / TRx = Total prescriptions Source: IMS National Prescription Audit (NPA) 12

13 Vimpat U.S. When monotherapy is no longer enough A new treatment option in add-on for POS Net sales increased by 220% million North America 2010 net sales net sales 30 ~ patients on Vimpat Efficacy when added to broad range of 1st and 2nd generation AEDs No drug-drug interactions; multiple formulations Already prescribers approximately 85% of target 13

14 Vimpat Improved seizure control Regardless of patient s concomitant therapy 14

15 UCB s status as the company with the best reputation amongst neurologists continues to grow 50% 45% 40% 35% UCB GlaxoSmithKline Abbott Laboratories Pfizer Ortho McNeil Novartis Don't know None Company with Best Reputation (Unaided) All Neurologists 30% 25% 20% 15% 10% 5% 0% July 2006, Previous ATU (n=101) Feb 2007, Previous ATU (n=106) Nov 2007, Previous ATU (n=100) August 2008 (n=150) June 2009 (n=151) January 2010 (n=201) June 2010 (n=178) Q58a. When thinking of pharmaceutical companies that manufacture anti-epileptic products, which one company would you say has the best reputation in epilepsy/seizure disorder category? (open-end) Source: ATU July

16 Vimpat -U.S. Successful launch in the AED market 200 Indexed Monthly Rx Jan 10 Feb 10 Mar 10 Vimpat Trx Apr 10 May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Total Market Trx Nov 10 Dec 10 Vimpat Nrx Total Market Nrx * Total Market: Carbamazepine, Gabapentin, Lacosamide, Lamotrigine, Levetiracetam, Oxcarbazepine, Phenytoin, Pregabaline, Rufinamide, Tiagabine, Topiramate, Valproic Acid, Vigabatrin, Zonisamide AED = Anti-Epileptic Drug Source: IMS National Prescription Audit (NPA) 16

17 Physicians report Vimpat is the add-on of choice for epilepsy patients and is being used earlier in the treatment algorithm 30% Physicians report: Vimpat is the agent of choice when selecting an add-on therapy for epilepsy 25% Share of NWRx 20% 15% Vimpat Keppra Lamictal Keppra XR Lamictal XR 10% 5% 0% 12/09 n=403 1/ / / / / / / / / / / / Source: Impact Rx and Dec 2010 ATU 17

18 Europe & Rest of the World Khoso Baluch, Sr. VP Global Marketing & Access DeOnna, living with rheumatoid arthritis

19 Cimzia Fast response for predictable outcomes Net sales increased by 528% million Europe ROW 2010 net sales net sales 5 0 ~ patients on Cimzia Rheumatoid arthritis - Fast response for predictable outcomes Fast response with Cimzia means Improved long-term outcomes The opportunity to make an informed treatment decision within 12 weeks Crohn s disease (approved in Switzerland) For naïve or bio-experienced patients Fast Results after just 1 dose Sustainable Long-term remission with no dose escalation Stable 1 predictable subcutaneous Q4-week dose 19

20 Cimzia Roll-out in Europe and Rest of the World 15 Quarterly sales evolution since launch million st launch in RA Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q

21 Cimzia roll-out in Europe and Rest of the World Launched in 18 countries, continued launch roll-out Launches 2009 Launches Launch Countries Ireland Italy Sw itzerland France Greece Australia Slovakia Spain Austria Belgium Hungary Finland Netherlands Sw eden Norw ay UK Denm ark Germ any Q Q Q Q Q Q Q

22 Vimpat in epilepsy When monotherapy is no longer enough Net sales increased by 133 % million 2010 net sales 2009 net sales Europe ROW Epilepsy adjunctive therapy When monotherapy is no longer enough ~ patients on Vimpat A new treatment option in add-on for POS 1 Efficacy when added to broad range of 1 st and 2 nd generation AEDs 2 Additional efficacy with manageable side effects Sustainable high long-term retention rate demonstrated by Vimpat open label extension trial No drug-drug interactions; multiple formulations 1 Partial onset seizures 2 Anti-epileptic drug 22

23 Vimpat in epilepsy Roll-out in Europe and Rest of World Quarterly sales evolution since launch 12 million Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q

24 Vimpat roll-out in Europe and Rest of the World Launched in 20 countries, continued launch roll-out Launches 2009 Launches 2008 Launches Launch Countries Mexico Italy Russia Australia Czech Belgium Finland Switzerland France Spain Norway Netherlands Slovakia Sweden Denmark Ireland Greece Austria UK Germany Q Q Q Q Q Q Q Q Q Q

25 Neupro roll-out in Europe and Rest of the World 24h continuous delivery by transdermal patch Net sales increased by 34% million Europe ROW 2010 net sales net sales 60 0 ~ patients on Neupro Parkinson s disease and restless legs syndrome 24h continuous delivery by transdermal patch Continuous delivery to provide stable drug levels Improving daily functioning, sleep and early morning functions 25

26 Neupro - rotigotine transdermal patch Continued launch roll-out Quarterly sales evolution million New patient launch PD & RLS Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q

27 Neupro - rotigotine transdermal patch Continued launch roll-out Launch Countries Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q Launches 2009 Launches 2008 Launches 2007 Launches 2006 Launches Mexico Poland Romania Czech Republic Netherlands Australia Hong-Kong Finland Italy Slovakia Sweden Norway Denmark Austria Spain Switzerland Greece Ireland U.K. Germany 27

28 Keppra franchise Market leadership in Europe and Rest of the World million Europe 2010 net sales net sales 545 Actual 11% CER 10% North America % -18% Rest of World % 6% Total % 0% Loss of exclusivity in the U.S. (November 2008) Loss of exclusivity in the E.U. (September 2010) Sustained growth outside the U.S., generated by use in monotherapy E Keppra - most successful antiepileptic launch in Japan Sizeable franchise going forward! 28

29 2010 Financial Performance Detlef Thielgen, CFO Christer, living with Parkinson s disease

30 2010 Financial highlights Revenue of million Generic competition to mature products compensated by Cimzia, Vimpat and Neupro ; strong Keppra sales in EU and venlafaxine XR in U.S. Total operating expenses million Increased launch expenses for Cimzia, Vimpat and Neupro 3% 4% Pipeline progress trigger new clinical development programmes Recurring EBITDA of 731 million Net profit 1 of 103 million Adjusted net profit of 239 (+6%) 5% 80% 6% Core EPS of Gross dividend of 0.98 per share 15% 2% 1 After non-controlling interests 2. based on 180 million shares outstanding, see appendix for Core EPS calculation details 30

31 Net sales of major and new products Net sales 2010: million In million Core products Cimzia Vim pat Neupro +163% +190% +34% Core products combined sales of 413 million up by 127% in the first full year of sales on track to meet peak sales guidance Keppra 1 +3% 942 Zyrtec -15% 229 Mature products venlafaxine XR Xyzal 2 Tussionex Nootropil omeprazole +49% % % 80-5% +1% Total mature products sales reached million down by 5% following further generic competition Metadate -26% 54 Other products -9% 660 Note: % constant exchange rates 1 Including 83 million of Keppra XR in the U.S Excluding Xyzal U.S. revenue to UCB of 28 million from profit-sharing with sanofi-aventis

32 2010 net sales Solid growth from core products million Mature products -128 Core products net sales million 2009 Net Sales Cimzia Vimpat Neupro 2010 net 2010 sales Net Sales million % 32

33 Recurring EBITDA Consistent solid underlying profitability million Revenue Net sales Royalty income & fees Other revenue Gross profit Marketing & selling expenses R&D expenses G&A expenses Other operating income Total operating expenses Actual Variance Actual CER 3% 0% 4% 0% -3% -7% 3% 0% 4% -1% 2% -3% 5% 2% 3% 1% n.s. n.s. 4% 0% Recurring EBIT % -7% Amortisation of intangible assets % 30% Depreciation charges % -31% Recurring EBITDA % -3% 33

34 Net profit Strong REBIT impacted by non-cash, one-time charges million Recurring EBIT Impairment charges Restructuring expenses Gain on disposals Other non recurring expenses Total non recurring income/(expenses) EBIT Net financial expenses Income tax (expense)/credit Profit from continuing operations Net profit 1 Adjusted net profit 2 Actual Variance Actual CER 3% -7% 78% 73% -46% -48% n.s. n.s. n.s. n.s. n.s. n.s. -76% -80% 14% 13% n.s. n.s. -79% -85% -80% -85% 6% -8% 1 After non-controlling interest 2 Adjusted for after-tax impact of one-time and non-recurring items 34

35 2010 cash flows Operating activities 506 m Investing activities -63 m Financing 1 activities -440 m FY 2009 cash 466 million FY 2010 cash 87% 477 million 1 1 Includes effect of exchange rate fluctuations 35

36 Net debt evolution Strong free cash flow reduces net debt by 15% million 31 Dec Dec 2009 Net debt Liquid assets Financial debt Net Debt ( million) Net Debt/REBITDA x x 2.5x 2.1x A 2008A 2009A 2010 A A 2008A 2009A 2010 A 36

37 2011 financial outlook Revenue is expected between 3.0 and 3.1 billion Recurring EBITDA expected to be in the range between 650 and 680 million Core EPS expected to reach approximately 1.60 to based on 180 million shares outstanding, see appendix for Core EPS calculation methodology 37

38 UCB's Sustainable Future Growth Cimzia, Vimpat and Neupro trigger company growth Intense growth Breakthrough Cimzia, Vimpat, Neupro Optimise mature base business Manage remaining loss of exclusivity Company growth Realise the full commercial potential of Cimzia, Vimpat, Neupro Launch a new generation of therapies offering breakthrough innovation to patients with severe disease 2010 lifecycle management first Breakthroughs... and beyond 38

39 Advancing the pipeline Iris Loew-Friedrich Chief Medical Officer Esperanza, living with RLS

40 Development pipeline with significant progress Central Nervous System (CNS) Neupro (rotigotine) Adv. Parkinson's disease (U.S.) Neupro (rotigotine) Restless legs syndrome (U.S.) Xyrem (sodium oxybate) Fibromyalgia (EU) Phase 1 Phase 2 Phase 3 Regulatory status Filed CRL* November Dec CRL* Dec 2008 CRL1 April Filed 2010 Vimpat (lacosamide) Epilepsy monotherapy (U.S.) Results Q Vimpat (lacosamide) Epilepsy monotherapy (EU) brivaracetam Epilepsy adj. therapy Vimpat (lacosamide) Epilepsy Paediatric adj. therapy first results Results Q Results H Vimpat (lacosamide) Epilepsy adj. therapy PGTCS Results H UCB0942 (PPSI) Epilepsy * Complete Response Letter 40

41 Development pipeline with significant progress Immunology Cimzia (certolizumab pegol) Rheumatoid arthritis (Japan) Cimzia (certolizumab pegol) Ankylosing spondylitis Cimzia (certolizumab pegol) Psoriatic arthritis epratuzumab SLE Phase 1 Phase 2 Phase 3 Positive results Results Q Results Q Results H Regulatory status Cimzia (certolizumab pegol) Juvenile rheumatoid arthritis CDP7851 (anti-sclerostin) Post-menopausal osteoporosis CDP7851 (anti-sclerostin) Fracture healing olokizumab (anti-il 6) Rheumatoid arthritis Results Q Results 2012 Results Q CDP7657 (anti CD40L) SLE 41

42 Vimpat in epilepsy monotherapy (EU) Phase 3 programme started results Q Phase 3 trial initiated adults 16 years experiencing POS or PGTCS ~1000 subjects across 120 sites in EU, Canada, Australia, and other regions multicenter, double-blind, double-dummy, randomized, positive-controlled study comparing the efficacy and safety of LCM (200 to 600mg/day) to CBZ-CR (400 to 1200mg/day) used as monotherapy non-inferiority design to show at least a similar benefit-risk balance for LCM compared with CBZ-CR Atsumi, living with epilepsy Primary endpoint Proportion of subjects remaining seizure free for 6 consecutive months (26 consecutive weeks) of treatment following stabilization at the last evaluated dose for each subject Vimpat Monotherapy (EU) Results Q

43 Brivaracetam in epilepsy New Phase 3 trial started first results H Phase 3 trial currently recruiting Refractory patient population ( 16 to 80 years ) with partial onset seizures (POS) 720 patients across 120 sites worldwide Multicenter, placebo-controlled, randomized efficacy trial Placebo, brivaracetam 100mg/day, brivaracetam 200mg/day 6 month trial (of which 12 weeks treatment period) Thomas, living with epilepsy Primary endpoint U.S.: % reduction in POS frequency per 28 days during the 12 week treatment period over placebo Europe: 50% responder rate based on a % reduction in POS frequency from baseline to the 12 week treatment period Phase 1 Phase 2 Phase 3 brivaracetam Adjunctive therapy Results H

44 Epratuzumab in SLE Phase 3 programme started results H Phase 3 trials currently recruiting Two confirmatory Phase 3 studies (Embody 1 & Embody 2) Moderate to severe patient population 780 patients/trial across 130 sites worldwide Multicenter, placebo-controlled, randomized efficacy studies Placebo Epratuzumab 600mg infusions delivered once a week Epratuzumab 1200mg infusions delivered every other week 12 month trials Bernadette, living with lupus Primary endpoint To confirm the clinical efficacy of epratuzumab by the % of subjects meeting treatment response criteria at Week 48 according to a combined response index build primarily around BILAG epratuzumab SLE Phase 1 Phase 2 Phase 3 Results H SLE: systemic lupus erythematosus 44

45 Additional external pipeline options Therapeutic area / Indication Stage of development Development path + Partner SYN115 (A2a) CNS Parkinson s disease Phase 2 trial ongoing; Phase 2b to start in Q Synosia/Biotie to complete Phase 2; SYN118 (HPPD) CNS Parkinson s disease Phase 2 trial ongoing UCB to take over Phase 3 development and commercialisation MEK inhibitor Oncology Successful completion of WILEX to do further (WX554) Phase 1 dose escalation study Phase 1 development 45

46 UCB NewMedicines Ismail Kola Executive VP, UCB. President UCB NewMedicines 46 Juan, living with restless legs syndrome 46

47 UCB NewMedicines strategy and business model A new R&D paradigm to deliver differentiated drugs Partnering and virtualisation to complement internal capabilities Deliver differentiated molecules Increase success rates Enhance scientific excellence Increase efficiency Innovative targets (Academic/biotech) SEGMENTED Wholly owned assets PORTFOLIO Implement extreme networking and open innovation Shared risk Outlicensing UCB incubators 47

48 Our model addresses the industry s low R&D developmental and commercial success rates 89% of molecules in development fail** 42% of Phase 3 trials fail* 70% launched products fail to recoup initial investment Pre-clinical Clinical (all phases) Commercial 2/1000 Reasons for attrition 1/10 3/10 **Ismail Kola & John Landis (2004). Nature Reviews: Drug Discovery 3 : * Source: Why drugs fall short in late stage trials, McKinsey Quarterly, Pharmaprojects, Evaluate 48

49 Attrition rates of failed Phase 3 candidates reveals POC Paradigm benefits OBJECTIVITY AND AND ROBUSTNESS OF REGISTERABLE OF BIOMARKER ENDPOINT H L 42% of Phase 3 trials fail* High Biomarker DESIRED QUADRANT FOR MOST Low POC OF PORTFOLIO Attrition rate 63% Attrition rate 25% LEAST DESIRABLE QUADRANT High POC FOR PORTFOLIO IN LATE STAGE DEVELOPMENT Low Biomarker Attrition rate 70% Attrition rate 37% H P.O.C IN MAN Source: Evaluate; Pharmaprojects; Factiva; literature search; McKinsey analysis; I. Kola Note: Includes aggregate attrition rates for following TAs: CNS, Endocrine, CV, ID, Oncology, and Respiratory. All figures are rounded 49

50 Paradigm to pick winners and kill early TEST THE THEORY - LEARN CONFIRM THE THEORY CANDIDATE APPROVAL FIH including target engagement biomarker POC-light IN MAN endpoints for internal decision making POC at Ph 2B robust register-able endpoint APPROVAL AND LAUNCH 50

51 UCB2892 (H3 antagonist) January 2011: Robust data-driven decision making Termination of Phase 1 programme for UCB2892, an H3 antagonist with potential for cognitive disorders Results demonstrated uncompetitive clinical profile UCB s new paradigm for robust decision-making: demonstrable speed and cost efficiency in development path Comparison versus conventional approach* Timeline to defined endpoint Costs 37% % *Conventional approach = Alzheimer s trial 51

52 olokizumab (CDP6038) A highly potent anti-il6 inhibitor with a novel mechanism of action First in a new class of anti-il-6 inhibitors that selectively blocks the final assembly step of the IL-6 signaling complex Phase 1b: Study in RA patients completed in Q Potently induced and sustained CRP suppression Well tolerated at all doses Half-life of 31 days and absolute bioavailability of 75% (SC) Low incidence of immunogenicity Phase 2b: SC Dose ranging study initiated ahead of plan in Q >200 patients with active RA who have failed TNF blocker therapy Active comparator Actemra IV Headline results Q expected 52

53 Significant Pipeline Q2 January pipeline growth in 2010 through novel molecules Pipeline December 2010 CNS Phase 1 Phase 2 Phase 3 Filed UCB2892 (H3 antagonist) Cognitive disorders UCB0942 Epilepsy X Vimpat Paediatric programme Vimpat Adj. therapy PGTCS Vimpat Monotherapy U.S. Vimpat Monotherapy EU Xyrem Fibromyalgia FIM achieved Q4 Assets acquired Q2 SYN115 1 Parkinson s disease brivaracetam Adj. therapy SYN118 1 Parkinson s disease Immunology CDP7657 (anti-cd40l) SLE CDP7851 (anti-sclerostin) Fracture healing Cimzia Ankylosing spondylitis FIM achieved Q2 CDP7851 (anti-sclerostin) PMO Cimzia Psoriatic arthritis CDP6038 (anti-il6l) Autoimmune diseases CDP6038 (anti-il6l) Autoimmune diseases Cimzia RA / Japan POC light completed Phase IIb study started Q4 epratuzumab SLE epratuzumab SLE Oncology incubation MEK inhibitor 2 New entrant/phase transition Novel molecule Moving into phase 1 Developed by Synosia in partnership with UCB 2 Developed by Wilex in partnership with UCB 53

54 UCB NewMedicines implementing a new R&D paradigm Deliver differentiated molecules Increase success rates Enhance scientific excellence Increase efficiency Implement extreme networking and open innovation 54

55 UCB's Sustainable Growth Roch Doliveux, CEO Stephanie, living with rheumatoid arthrits

56 UCB is delivering on Financial targets Core product launches Cimzia, Vimpat, Neupro Increased patient reach Strong pipeline to achieve sustainable company growth 56

57 UCB's sustainable future growth Cimzia, Vimpat and Neupro trigger company growth Intense growth Breakthrough Cimzia, Vimpat, Neupro Optimise mature base business Manage remaining loss of exclusivity Company growth Realise the full commercial potential of Cimzia, Vimpat, Neupro Launch a new generation of therapies offering breakthrough innovation to patients with severe disease 2010 lifecycle management first Breakthroughs... and beyond 57

58 Questions? 58

59 Appendix 59 59

60 Major milestones expected in 2011 Xyrem for fibromyalgia Feedback from the European authorities H CDP7851 (anti-sclerostin) in post-menopausal osteoporosis Phase 2 headline results H Vimpat in epilepsy adj. therapy PGTCS Phase 2 headline results H Cimzia in ankylosing spondylitis Phase 3 headline results Q Cimzia in psoriatic arthritis Phase 3 headline results Q

61 Geographic and therapeutic breakdown Net sales 2010: million Focused From primary care to specialist physicians CNS and immunology Core markets: U.S., EU, Japan, selected emerging markets Specialist physicians contacted by small and efficient sales forces France 6% Germany 13% North America 37% Italy 5% U.K & Ireland 5% Spain 5% Europe 51% Other 37% CNS 44% Other Int'l markets 1% Asia 5% Japan 6% Other Europe 17% Immunology & allergy 19% 18% 61

62 Core EPS million Variance Actual Net profit After-tax non-recurring items & financial one-offs Profit from discontinued operation Tax one-offs Adusted net profit % + Amortisation of intangibles % - Taxes on amortisation of intangibles % Core net profit % Weighted average number of shares (basic) 180 Core EPS ( ) % Actual % n.s. n.s. n.s. 0% 1 Adjusted for after-tax impact of one-time and non-recurring items 62

63 2010 balance sheet million Cash and Cash Equivalents Other Current Assets Other Non- Current Assets Other Current Liabilities Current Debt Other Non- Current Liabilities Intangible Assets Non-Current Debt Goodwill Shareholder s Equity: 47% Total assets: million Total liabilities: million 63

64 Debt maturity profile Better aligned to expected CF generation million Revolving Credit Facility Belgian retail bond Convertible Institutional eurobond 750 million 5.75% Belgian retail bonds due November million Revolving credit facility due million 4.50% Convertible bonds due October 2015 (notional amount) 500 million 5.75% Institutional bonds due December

65 Shareholder structure 1 Strong and stable shareholder base Tubize 36% Free float investors by region Concert 14% North America 40% Other investors, 15% Capital Research 12% Other institutional investors 20% Wellington 3% Unidentified 15% Belgium 23% Cont.Europe 14% UK & Ireland 8% 1. Source: Global shareholder intelligence report, January 2010 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. 65

66 Update on clinical development Phase 3 in psoriatic arthritis ongoing Phase 3 in ankylosing spondylitis ongoing Phase 3 design in juvenile rheumatoid arthritis under discussion Phase 3 in rheumatoid arthritis in Japan completed positively Phase 3 in monotherapy (U.S.) ongoing Phase 3 in monotherapy (EU) started Phase 2 in PGTCS 1 ongoing Phase 2 in paediatric ongoing On track with room temperature-stable patch formulation UCB aims to make Neupro available again in the U.S. in 2012 subject to regulatory approval 1 primary generalised tonic-clonic seizures 66

67 Cimzia in further arthritis indications Increasing patient access Psoriatic arthritis (PsA) - Phase 3 trials ongoing Two active arms: monthly (400 mg) and two week (200 mg) dosing Time-frame: weeks Cimzia Psoriatic arthritis Phase 1 Phase 2 Phase 3 Results Q Deonna, living with rheumatoid arthritis Ankylosing spondylitis (AS) - Phase 3 trials ongoing Two active arms: monthly (400 mg) and every two week (200 mg) dosing Time-frame: 24 weeks Cimzia Ankylosing spondylitis Results Q

68 Cimzia in further arthritis indications Increasing patient access Juvenile rheumatoid arthritis (JRA) Discussion ongoing with EU and U.S. regulators to finalise the study Phase 3 design Cimzia Juvenile RA Phase 1 Phase 2 Phase 3 Rheumatoid arthritis (Japan) - two Phase 3 studies completed Alison, living with rheumatoid arthritis Monotherapy and combination with MTX Three active arms (100 mg, 200 mg, 400 mg), every two week dosing Time frame: 24 weeks Cimzia RA Japan Results Q

69 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 2 trials ongoing Phase 2 study in post-menopausal osteoporosis Estimated enrolment: 400 post-menopausal women with low bone mineral density, time-frame:52 weeks Paulette, living with osteoporosis CDP7851 Post-menopausal osteoporosis Phase 1 Phase 2 Results Q Phase II study in fracture healing Estimated enrolment: 400 patients, time-frame: 52 weeks CDP7851 Fracture healing Results

70 Olokizumab (CDP6038, anti-il-6) in rheumatoid arthritis Phase 2b programme started results Q Phase 2b trial currently recruiting Active RA having previously failed TNF blocker therapy 220 patients across approximately 100 sites in U.S. and Europe Randomised, double-blind placebo-controlled, doseranging study with an active comparator (Actemra iv) to evaluate efficacy and safety of olokizumab 3 dose levels of OZK administered sc, every 2 or 4 weeks Stephanie, living with rheumatoid arthritis 12 weeks treatment duration plus open-label extension Primary endpoint To evaluate the clinical efficacy by the change from baseline in the Disease Activity Score for olokizumab and placebo at week 12 Olokizumab Rheumatoid arthritis Phase 1 Phase 2 Results Q

71 Vimpat in epilepsy Increasing patient access Monotherapy in the treatment of partial-onset seizures Phase 3 trial in EU initiated Phase 1 Phase 2 Phase 3 Vimpat Monotherapy (U.S.) Results Q Vimpat Monotherapy (EU) Results Q Veronica, living with epilepsy Paediatric 1 development in partial-onset seizures Vimpat Paediatric adj. therapy First Results Adjunctive therapy for primary generalised tonic-clonic seizures (PGTCS) Vimpat Adj. therapy PGTCS Results H From 2 to 17 years 71

72 Neupro in the U.S. Parkinson s disease & restless legs syndrome FDA Complete Response Letter (December 2008) Substantial evidence of effectiveness in advanced Parkinson s disease and restless legs syndrome Development of room temperature-stable patch formulation on track Complete Response Letter recommending reformulation (April 2010) UCB aims to bring Neupro to U.S. patients during 2012 Christer, living with Parkinson s disease Approved Phase 1 Phase 2 Phase 3 Filed Launched Neupro Parkinson s disease Filed CRL* Dec Neupro Restless legs syndrome CRL* Dec * Complete Response Letter 72

73 Your UCB Investor Relations team Antje Witte, Vice President Investor Relations Phone: antje.witte@ucb.com Michael Tuck-Sherman, Investor Relations Manager Phone: michael.tuck-sherman@ucb.com Isabelle Ghellynck, Investor Relations Project Manager Phone: isabelle.ghellynck@ucb.com 73