May 2005 - 1

UCB: INNOVATION FOR SPECIALISTS

UBS – Global Healthcare ConferenceNew York - May 24, 2005

Roch Doliveux - CEO

May 2005 - 2

DISCLAIMER

This presentation contains elements that are not historical facts, including,

without limitation, certain statements on future expectations and other

forward looking statements. Such statements are based on management's

current views and assumptions and involve known and unknown risks and

uncertainties that could cause actual results, performance or events to differ

materially from those anticipated.

May 2005 - 3

389815382

0

100

200

300

400

UCB Pharma (12 months,Continuingbusiness)

Celltech (5 months,

consolidatedexcluding fair

valueadjustment)

Celltech(7 months, Jan-Jul)

Proforma2004

UCB Biopharma Financial highlights 2004

EBITA

2.124239

216

1.669

0

500

1.000

1.500

2.000

2.500

UCB Pharma (12 months,Continuingbusiness)

Celltech (5 months,

consolidated)

Celltech (7 months,

Jan-Jul)

Proforma2004

€m€m

Revenue

( )

Pro-forma according to IFRS

May 2005 - 4

UCB Biopharma Strengths

Leading, global, dynamic Biopharmaceutical company with presence in over

40 countries

Leader in the fields of epilepsy, allergy, and monoclonal antibody research

Proven productivity in research with several potential blockbusters in

pipeline

Strong partnerships

May 2005 - 5

Global Presence

Net Sales in 2004: € 1.7 billion

Europe

40%

United States

40%

Japan12%

ROW8%

Net sales excluding royalties and fees

May 2005 - 6

2004 Revenues, € billion

A Biopharmaceutical leader

• Amgen

• Schering AG

• Novo Nordisk

• Genentech

• UCB

• Altana

• Serono

• Genzyme

1.8

1.8

• Chiron

• Lundbeck

1.4

1.3

• Biogen IDEC 1.8

8.5

4.9

3.9

3.7

2.1

2.1

Revenues 2004 (€ billion)

May 2005 - 7

UCB Biopharma Strengths

Leading, global, dynamic Biopharmaceutical company with presence in over

40 countries

Leader in the fields of epilepsy, allergy, and monoclonal antibody research

Proven productivity in research with several potential blockbusters in

pipeline

Strong partnerships

May 2005 - 8

CENTRAL NERVOUS SYSTEM

May 2005 - 9

US Sales of $ 335 million in 2004 (+ 42%)

Most successful anti-epileptic launch ever

Market leader in the US

Filed intravenous formulation (Q4 2004)

Paediatric priority review (Q4 2004)

Expected filings end 2005:

monotherapy

juvenile myoclonic epilepsy

generalised seizures

US Sales of $ 335 million in 2004 (+ 42%)

Most successful anti-epileptic launch ever

Market leader in the US

Filed intravenous formulation (Q4 2004)

Paediatric priority review (Q4 2004)

Expected filings end 2005:

monotherapy

juvenile myoclonic epilepsy

generalised seizures

12

16

17

22

23Keppra (UCB)

Lamictal (GSK)

Topamax (J&J)

Trileptal (Novartis)

Neurontin (Pfizer)

U.S. Epilepsy Rx market share, %

(Source: Rx data from IMS, MAT Q3/2004)

2004 – Sales of € 417 million (+ 33%)

May 2005 - 10

Strong Growth US NRx

NRx Prescriptions: Weekly Data – week ending April 15, 2005

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

3-Jan

3-Feb

3-Mar

3-Apr

3-May

3-Jun

3-Jul

3-Aug

3-Sep

3-Oct

3-Nov

3-Dec

2003 2004 2005

May 2005 - 11

A L L E R G Y

May 2005 - 12

Turnover 2004 * € 1,447 million

* UCB consolidates € 544 million

Turnover Q1 2005 * $342 million in US (+14% vs. Q1 2004)

Partnerships with Pfizer (USA)

Dai-ichi (Japan)

GSK (Japan)

Turnover 2004 * € 1,447 million

* UCB consolidates € 544 million

Turnover Q1 2005 * $342 million in US (+14% vs. Q1 2004)

Partnerships with Pfizer (USA)

Dai-ichi (Japan)

GSK (Japan)

World’s leading antihistamine

May 2005 - 13

Launched in Europe in February 2001

Only antihistamine approved for persistent rhinitis in Europe

Turnover * € 104 million (+ 156%) in 2004

* 41% growth in Europe for 1Q 2005

Xyzal sales now exceed Zyrtec’s sales in Europe

Launched in Europe in February 2001

Only antihistamine approved for persistent rhinitis in Europe

Turnover * € 104 million (+ 156%) in 2004

* 41% growth in Europe for 1Q 2005

Xyzal sales now exceed Zyrtec’s sales in Europe

Leader in 5 European countries

May 2005 - 14

UCB Biopharma Strengths

Leading, global, dynamic Biopharmaceutical company with presence in over

40 countries

Leader in the fields of epilepsy, allergy, and monoclonal antibody research

Proven productivity in research with several potential blockbusters in

pipeline

Strong partnerships

May 2005 - 15

Therapeutic Areas

CNS

• Epilepsy• Pain• Migraine• Movement disorders

Inflammation & auto-immune disease

• Rheumatoid arthritis (RA)• Irritable bowel diseases (IBD)• Crohn’s disease (CD)• Allergy• Respiratory disease• Systemic Lupus Erythematosus (SLE)• Psoriasis

Inflammation in CNS• Multiple Sclerosis (MS)

OncologyOncology• Lung cancer & leukaemiaLung cancer & leukaemia

May 2005 - 16

Pragmatic Low Risk Approach to R&D

Drug candidate

identification and

optimization

Clinical development

Potential disease targets

Preclinical pharmacology

and toxicology

Successful therapy

Validated targets

Anti-allergy Atarax Zyrtec Xyzal Efleterizine

Well-known chemical/biological families

Proven clinical safety and efficacy

Anti TNF Remicade Cimzia

Anti VEGF Avastin CDP791

Cerebral

Disorders Nootropil Keppra Brivara/Selectracetam

May 2005 - 17

Strong new product pipeline

2005 2006 2007 2008 2009 2010

• Xyrem

• Equasym XL

• Kentera

• Xyzal syrup• Keppra

paediatric/ IV

• CIMZIA (Crohn’s)

• CIMZIA (RA)• Keppra

mono-therapy/PGS

• Brivaracetam• Seletracetam

• CDP791• CMC544• Efletirizine

• CDP435• CDP323• UCB101264

Large molecule

Small molecule

Large molecule

Small molecule

Expected product launches

May 2005 - 18

C I M Z I A

May 2005 - 19

TNFα inhibitors market is fast growing

Sources: IMS World Review 2003 and Evaluate pharma

Market value (MAT 12/04) $5.3 billion

Annual Growth + 44%

Estimated Market Value (2009) = $13 billion

CAGR (2003-2009) + 23%

May 2005 - 20

Cimzia – only one competitor in Crohn’s Disease

• CD market $1 billion

• Remicade only anti-TNF

Source: Decision Resource Reports October 2003/2004

* 2003 Total Crohn’s disease in G7 market

May 2005 - 21

Cimzia – Key development milestones

Crohn’s disease

Clinical results Q3 2005

Filing End 2005 / Early 2006

Pre-launch Ongoing

Launch 1H 2007

Rheumatoid arthritis

Clinical results 2H 2006

Filing 1H 2007

Pre-launch Ongoing

Launch End 2007 / Early 2008

May 2005 - 22

UCB Biopharma Strengths

Leading, global, dynamic Biopharmaceutical company with presence in over

40 countries

Leader in the fields of epilepsy, allergy, and monoclonal antibody research

Proven productivity in research with several potential blockbusters in

pipeline

Strong partnerships

May 2005 - 23

Strong partnerships

Upstream AmgenAstra ZenecaBiogen IdecJohnson & JohnsonMillennium

Downstream Dai-ichiGSKPfizerOrphan MedicalWatson PharmaceuticalsWyeth

May 2005 - 24

C O N C L U S I O N

• Financial outlook

• Priorities 2005

• Vision

May 2005 - 25

Financial outlook for 2005

Biopharma growth expected to offset Surface Specialty/ Films contribution

Substantial capital gain resulting from sale of Surface Specialties

Accelerated investment in Cimzia (CD and RA) development program

Net income 2005 in line with 2004 (IFRS) excluding capital gains of 2004 (Films)

and 2005 (Surface Specialties)

May 2005 - 26

Priorities for 2005

• Maximize Keppra & post Keppra franchise

• Make Cimzia a success

• Optimize the allergy franchise transition

• Innovate to secure long-term growth

• Deliver on improvement plans

May 2005 - 27

UCB Vision - Innovation for Specialists

To build a global biopharmaceutical leader,

based on unique blend of innovation,

entrepreneurship and proven experience,

bringing to specialists first,

new medicines to heal patients

suffering from severe diseases