SCHWARZ PHARMA gets off to a good start
Three Months Report 2008
The operating result of the SCHWARZ PHARMA group in the first quarter, compared to the prior year period, showed a satisfactory trend.
The group's financial result improved considerably year-on-year. Within the scope of integration into the UCB group, SCHWARZ PHARMA granted an interestbearing vendor loan, generating interest income in the first quarter which was distinctly higher than that recorded in the previous year.
The net result was hence better than in the same quarter of the prior year.
For 2008, SCHWARZ PHARMA plans to make additional investments at the production sites in Shannon/Ireland (fine chemicals) and Zwickau/Germany (bulk manufacture). These projects are progressing as planned.
SCHWARZ PHARMA is maintaining its sales estimate of around €400 million for full fiscal year 2008. The impact of the inability to deliver Neupro® in the USA, announced in March 2008, and the effect of possible measures to restore the ability to deliver are not foreseeable at present. SCHWARZ PHARMA will in all likelihood have a better insight into the situation at the time when its half-year financial report is published. Due to the start-up expenses for producing the drug fesoterodine, SCHWARZ PHARMA continues to expect a negative net result for 2008.
1 As part of the process of integrating SCHWARZ PHARMA AG into the UCB group, 13 affiliated companies ceased to belong to the company's scope of consolidation as per end of fiscal year 2007. All details on the prior year period only relate to continuing operations.
This outlook does not include earnings from the divestment of products or partnerships.
UCB Pharma GmbH
SCHWARZ PHARMA AG (seated in Monheim, Germany) is a member of the UCB group, Brussels/Belgium (www.ucbgroup.
com). UCB is listed on the Euronext exchange in Brussels and holds around 89% of all SCHWARZ PHARMA shares.
UCB is a leading global biopharmaceutical company whose focus is on researching, developing, and commercializing innovative pharmaceutical and biotechnological products in the fields Central Nervous System, allergic and respiratory diseases, immunological and inflammatory diseases, and oncology. UCB achieved sales of €3.6 billion in 2007 and employs more than 11.000 workers in 40 countries.
This press release contains assumptions, expectations, and forecasts on future sector trends, on future legal and commercial developments, and on the future development of the company. These assumptions, expectations, and forecasts are no guarantee for future performance and are subject to change at any time. Consequently, future reports and the factual circumstances of the company may deviate materially from the outlook presented by the above. The company assumes no responsibility for updating such assumptions, expectations, and forecasts on future sector trends, on future legal and commercial developments, and on the future development of the company.