Ipsen reports strong first quarter 2018 sales growth of 23.1% at constant exchange rates
Paris (France), 26 April 2018 – Ipsen (Euronext: IPN; ADR: IPSEY), a global specialty-driven biopharmaceutical group, today announced its sales for the first quarter of 2018.
Q1 2018 Financial highlights:
- Group sales growth of 23.1%, driven by Specialty Care sales growth of 27.4%, reflecting continued Somatuline® momentum and increasing contribution from Cabometyx® and Onivyde®
- Full year 2018 guidance confirmed with Group sales growth greater than 16.0% and Core Operating Income margin greater than 28.0% of net sales
Q1 2018 Pipeline highlights:
- Positive opinion issued by the CHMP for Cabometyx® for the first-line treatment of adults with intermediate or poor risk advanced renal cell carcinoma (aRCC)
- Validation by the EMA of the filing for an additional indication for Cabometyx® for patients with previously treated advanced Hepatocellular Carcinoma (HCC)
First quarter 2018 unaudited IFRS consolidated sales
In the first quarter of 2018, Consolidated Group sales rose to €510.3 million. Sales grew by 23.1% at constant exchange rates driven by Specialty Care sales growth of 27.4%. Reported Group sales grew by 16.5%, impacted by the appreciation of the euro against a number of currencies, notably the U.S. dollar.
David Meek, Chief Executive Officer of Ipsen stated: “The first quarter of 2018 marked a robust start to the year. Specialty Care drove the growth of Group sales due to the continued strong momentum of Somatuline® and the execution of the Cabometyx® and Onivyde® launches. We also made significant advancements during the period to expand the market potential of Cabometyx®, which further strengthens our presence in Oncology. We remain focused on the execution of our commercial products and identifying new business development opportunities to maintain the sustainable longer-term growth of the company.”
Ipsen will set up a conference call on Thursday 26 April 2018 at 2:30 p.m. (Paris time, GMT+1). A conference call will take place and a web conference (audio and slides) will be available at www.ipsen.com. Participants should dial in to the call approximately 5 to 10 minutes prior to its start. No reservation is required to participate in the conference call.
France and continental Europe: +33 (0)1 76 74 24 28
UK: +44 (0) 1452 555 566
US: +1 631 510 7498
Conference ID: 7769826
A recording will be available for 7 days on Ipsen’s website and at the above numbers