UCB SA
UCB: XBRU (BEL)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€66.00 | Mwhh | Bpsbhdwtl |
UCB Earnings: Generic Erosion Weighs on Sales as Pipeline Candidates Continue To Develop
UCB reported half-yearly revenue of EUR 2.6 billion, representing an 11% decline year over year due to generic erosion having an impact on some of the company’s drugs. We maintain our fair value estimate of EUR 99 per share and no-moat rating for UCB. The stock is currently trading in 4-star territory, about 19% below our fair value estimate. Our no-moat rating is due to ongoing generic erosion and upcoming patent losses that will weaken UCB’s intangible assets.