Around the world, COVID-19 cases are on the rise again. Despite the challenges presented by the pandemic, our teams’ commitment to delivering for patients remains as strong as ever. That’s why we are especially pleased to announce our positive Q3 financial results. These results reflect both our commitment to patients and the resiliency of our portfolio. Our Q3 sales grew by 2.2% at constant exchange rates over the first nine months of 2020, despite the continuing negative impact of the COVID-19 pandemic. These results were driven by sales growth of 5.1% within our resilient Specialty Care portfolio.
We are also pleased to confirm our 2020 full-year guidance, with Group sales growth greater than +2.0% at constant currency and Core Operating margin greater than 30.0% of net sales.
Our late-stage R&D pipeline has also progressed for Cabometyx®, Somatuline® and palovarotene. We are further optimistic about growing our pipeline thanks to the recent appointment of Philippe Lopes-Fernandes as Executive Vice President, Chief Business Officer, who is charged with business development and alliance management.
“The Group delivered a resilient performance in the third quarter, despite the continued impact of the pandemic, and I am pleased to confirm our 2020 full-year financial objectives,” said David Loew, CEO. “Our pipeline achieved notable progress with incremental positive data on Cabometyx and palovarotene, supporting our intention to bring these important therapies to patients. I look forward to sharing my long-term vision for Ipsen and the outcomes of a comprehensive strategic review at our Capital Markets Day on December 1st.”
For more information, see the press release here.