February 22, 2018 / 6:26 AM / in 4 months

UCB full-year core profit beats expectations, cautious about 2018

BRUSSELS, Feb 22 (Reuters) - UCB reported on Thursday better-than-expected core profit for 2017, but the Belgian pharmaceutical group gave a cautious outlook for the new year.

Sales were slightly ahead of expectations for most of the group’s key products, with the exception of its newest epilepsy treatment Briviact.

Core profit, adjusted for one-off items (REBITDA), rose by a third in 2017 to 1.375 billion euros ($1.69 billion), above the 1.282 billion euros expected in a Reuters poll of seven analysts.

UCB said it expected adjusted core profit in 2018 to be between 1.3 billion euros and 1.4 billion euros. Analysts polled by Reuters ahead of the results had on average expected 1.33 billion euros. ($1 = 0.8147 euros) (Reporting by Robert-Jan Bartunek; Editing by Biju Dwarakanath)

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