UCB SA

UCB: XBRU (BEL)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€88.00	Jdjzj	Ccmwcsv

UCB: Pipeline Continues to Develop as Zilbrysq Receives Approval in the EU, the U.S., and Japan

Rachel Elfman

Dec 8, 2023

UCB has received approval from the European Commission, the U.S. Food and Drug Administration, and the Japanese Ministry of Health, Labor and Welfare for Zilbrysq (pipeline candidate: zilucoplan) for the treatment of adults with generalized myasthenia gravis. We maintain our fair value estimate of EUR 99 per share and no-moat rating for UCB. The stock is currently trading in 5-star territory about 28% below our fair value estimate.

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