UPDATE 2-UCB says Cimzia EU clearance only a matter of time
(Adds details and background)
By Julien Ponthus
BRUSSELS, April 24 (Reuters) - Belgian pharmaceutical group UCB (UCB.BR) said on Thursday it had little doubt that its Cimzia drug would be cleared by European authorities to treat bowel disorder Crohn's disease.
"The approval of Cimzia is only a matter of time," Chief Executive Roch Doliveux told the company's annual shareholders meeting.
On Tuesday the would-be blockbuster drug received surprise U.S. approval, but European health authorities have rejected it for Crohn's.
UCB shares, which had fallen 28 percent in the year on fears that Cimzia's approval might be delayed, shot up as much as 29.6 percent on Wednesday.
Cimzia, also designed to treat other autoimmune conditions such as rheumatoid arthritis and psoriasis, is being touted as a potential $1 billion-a-year-plus product.
But Doliveux also said it would "take some time" before UCB's Neupro Parkinson's patch -- recalled in the United States in March -- returned to the U.S. market. The recall prompted UCB to put its 2008 forecast under review.
Doliveux said UCB will update its forecast for 2008 when it delivers first-half results, giving more details on the impact of the U.S. withdrawal. (Writing by Darren Ennis; Editing by Dale Hudson)
