UCB shares jump on rosy revenue picture

Belgian drugmaker UCB (Euronext: UCB) was trading more than 3% higher by lunchtime on Thursday after presenting its financial results for 2019.

The group’s revenue reached 4.9 billion euros ($5.3 billion), up 6% on the previous year, with underlying profitability, or recurring earnings before interest, taxes, depreciation and amortization charges (rEBITDA), rising 2% to 1.4 billion euros.

Core earnings per share (EPS) were 5.20 euros, 9% up on what they were in 2018, as UCB’s increased sales helped to overcompensate increased expenses for product launches and development.