UCB reveals profit increase expectations

UCB has said it is on target for a core profit increase of as much as 12 percent in 2014.

Despite the rise, the figure would be below market expectations.

The Belgian pharmaceutical company, which makes epilepsy drugs and treatment for rheumatoid arthritis, expects 2014 core profit to be between $1.02 and $1.06 billion, following a 2013 core profit rise of nine percent. The expectations have been issued just days after UCB announced its succession plan for its chief executive Roch Doliveux.

Jean-Christophe Tellier, currently the executive vice-president at Biopharma Brands and Solutions, will be appointed chief executive-elect and chairman of the executive committee from next month.

"In the last ten years, under Roch Doliveux's leadership, UCB has evolved from a diversified chemical company into a global biopharmaceutical leader," said UCB chairman Gerhard Mayr. 

USB hopes the succession plan will create the best conditions for continued success and help its 8,500 staff deliver on UCB's commitments.