2018 Registration Document
This registration document contains forward-looking statements about the Group’s targets and forecasts, including the Annual Financial Report. The registration document provides a comprehensive information about our company, its activities, financial information, HR, and legal information.
2018 half year financial report
- Listed on: segment A of Euronext Paris
- ISIN code: FR 0010259150
- Mnemonic: IPN
- FTSE classification: 486 – pharmaceuticals
- Sectorial classification ICB: 4577 – pharmaceuticals
- Nominal value: 1 euro
- First trading day: December 7, 2005
Ipsen established a sponsored level I American Depository Receipt (ADR) program in the United States in June 2010 with Deutsche Bank trust company Americas (Deutsche Bank).
- Ticker: IPSEY
- Structure: Sponsored Level I ADR
- Exchange: OTC
- Ratio (ORD:ADR): 1:4
- ADR ISIN: US4626291060
- ORD ISIN: FR0010259150
CONTACT DETAILS FOR ADR HOLDERS:
Deutsche Bank Shareholder Services
American Stock Transfer & Trust Company
Peck Slip Station
P.O. Box 2050
New York, NY 10272-2050
Toll-free number: +1 (866) 706-0509
Direct Dial: +1 (718) 921-8137
The Company’s ADR program is sponsored by Deutsche Bank. As the depository bank Deutsche Bank performs the following roles for ADR holders:
- Records and maintains the register of ADR holders
- Is the stock transfer agent
- Distributes dividends in U.S. dollars (if applicable)
- Facilitates the proxy voting process and exercises the voting rights on behalf of ADR holders (if applicable)
- Issues and cancels Ipsen ADSs (American Depository Shares)
- Can distribute company circulars and Annual General Meeting documentation (if applicable)
For those holders who are not registered because their shares are held through a ‘Street name’ (nominee account), your nominee will receive company documents from time to time from Deutsche Bank to distribute to ADR holders. You need to make arrangements with your nominee if you wish to receive such documents and to be able to exercise your vote through the depositary bank at general meetings (if applicable).
||Eric Le Berrigaud|
||Delphine Le Louet|
2019 financial objectives
2019 Financial guidance
The Group has set the following financial targets for 2019:
- Group sales growth year-on-year at constant currency greater than +13.0%; based on the current level of exchange rates, sales growth at current rates would be positively impacted by around 1.0%.
- Core operating margin around 31.0% of net sales, excluding incremental investments in pipeline expansion initiatives.
2022 Financial outlook
Ipsen provides its 2022 financial outlook to reflect the strong momentum of its Specialty Care business and the impact from the acquisition of Clementia closed in April 2019:
- Group Net Sales around €3.2 billion
- Core Operating margin greater than 32.0% of net sales
This outlook includes only the existing commercial portfolio of products under current approved indications and assumes the approval and launch of palovarotene in FOP indications only. It assumes the earliest possible entry of somatostatin analog (SSA) generics based on market intelligence. It does not include the potential short-term, low single-digit Core Operating margin dilution of business development transactions to further accelerate building an innovative and sustainable pipeline.