UCB shares jump on FDA's approval of Cimzia

Shares of Belgium's UCB shot up after the company announced that the FDA had approved its blockbuster rheumatoid arthritis drug Cimzia. The drug, which the patient can inject himself using a prefilled syringe, is now approved for moderate to severe rheumatoid arthritis.

"Cimzia's U.S. approval for rheumatoid arthritis is well ahead of ours and the street's expectation," KBC Securities analyst Jan De Kerpel told Bloomberg. The analyst had expected a regulatory decision in the latter part of this year.

The news is also a boost for Oxo International, which partnered with UCB on a syringe that patients can use to inject themselves with the new RA therapy. Cimzia is already approved  for Crohn's but the market has been primarily interested in UCB's ability to gain an approval for the huge RA market.

"The approval of Cimzia for moderate to severe rheumatoid arthritis in the U.S. is a major milestone for UCB, and most importantly, for people seeking a new treatment option to manage this debilitating condition," said Roch Doliveux, CEO of UCB. Cimzia will compete against blockbusters like Humira, which earned more than $4 billion last year.

- check out the UCB release
- read the report from Bloomberg

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