Financial objectives

Sales growth, core operating margin: discover our financial objectives for 2016 and our 2020 outlook.

2016 financial objectives*

The Group has set the following financial targets for 2016:

  • Specialty Care sales growth year-on-year in excess of 12%;
  • Slight Primary Care sales growth year-on-year.
  • Core operating margin of around 21%, including a negative impact of around 150 basis points resulting from the investment required to prepare the commercial launch of cabozantinib for the treatment of advanced renal cell carcinoma in Europe, and of around 100 basis points from foreign exchange rates.

FY16 guidance

Specialty Care sales growth

> 12%

Primary Care sales growth

Slight growth

Core Operating margin

About 21%


2020 outlook

Taking into account the additional growth stemming from the in-licensing of cabozantinib, Ipsen upgrades its sales targets and confirms its core operating margin objective for 2020, with:

  • Sales in excess of 2.0 billion euros, driven by cabozantinib sales in 2019 and 2020;
  • A core operating margin beyond 26%, despite the investment phase in 2017 and 2018 to launch cabozantinib for the treatment of advanced renal cell carcinoma in Europe. Ipsen will continue to implement cost containment initiatives and project arbitration to minimize impact on overall Group profitability.


*Sales objectives are set at constant currency

Updated on 28 July 2016