Financial objectives

Sales growth, core operating margin: discover our financial objectives for 2017 and our 2020 outlook.


2017 financial objectives*

The Group has set the following financial targets for 2017 assuming a successful closing of the Onivyde® transaction with Merrimack by the end of the first quarter 2017, and of the Consumer Healthcare transaction with Sanofi in the second quarter of 2017:

  • Specialty Care sales growth year-on-year greater than +18.0%
  • Primary Care sales growth year-on-year greater than +4.0%
  • Core operating margin (excluding amortization of intangible assets) greater than 24% of net sales 



FY17 guidance


Specialty Care sales growth Growth >18% 
Primary Care sales growth Growth >4%
Core Operating margin >24%


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

Last update 23/02/2017