Ipsen delivers strong sales growth of 22.6% for the third quarter of 2017 and confirms full year guidance

 

Paris (France), 26 October 2017 – Ipsen (Euronext: IPN; ADR: IPSEY), a global specialty-driven biopharmaceutical group, today announced sales for the third quarter of 2017.

Financial highlights

  • Q3 2017 Group sales growth of 22.6%1 driven by Specialty Care sales growth of 26.5%1 reflecting continued Somatuline® momentum and increasing contribution of new products Cabometyx® and Onivyde®, and solid Consumer Healthcare sales growth of 5.0%1
  • YTD Group sales growth of 20.1%1 fueled by Specialty Care sales growth of 24.3%1 and Consumer Healthcare back to growth at 2.5%1
  • Full Year 2017 guidance confirmed: Specialty Care sales growth greater than 24%1, Consumer Healthcare back to growth1 and a Core Operating Income margin greater than 25% of net sales

Recent pipeline highlights

  • Approval of Somatuline® by FDA2 for the treatment of carcinoid syndrome in the U.S.
  • Approval of Xermelo® by EMA2 for the treatment of carcinoid syndrome diarrhea in combination with SSA2 therapy
  • Validation by EMA2 of the application of Cabometyx® for the addition of a new indication in first-line treatment of advanced renal cell carcinoma (RCC)
  • Phase 3 CELESTIAL trial of cabozantinib meets primary endpoint of overall survival in patients with advanced hepatocellular carcinoma

 Key figures

Third quarter and nine months 2017 unaudited IFRS consolidated sales

1st table    

 

David Meek, Chief Executive Officer of Ipsen stated: “The excellent performance in the third quarter reflects the continued execution against our 2017 objectives with an accelerated momentum of our Specialty Care business. We achieved several important pipeline milestones during the quarter, notably in Oncology, further strengthening our leadership position in the neuroendocrine tumor market and increasing the potential value of the Cabometyx franchise. We remain focused on the launch execution of our new products and building an innovative and sustainable pipeline.”

 

Third quarter 2017 sales highlights

Note: Unless stated otherwise, all variations in sales are stated excluding foreign exchange impacts.

Third quarter 2017 unaudited IFRS consolidated sales

 2d table

 

Consolidated Group sales grew 22.6% to €470.1 million.

Sales of Specialty Care products reached €396.2 million, up 26.5% year-on-year.

Somatuline® sales reached €173.0 million, up 29.9%, year-on-year, driven by the continued excellent growth in the United States, and by strong performance in Europe, notably in the UK, Germany and France.

Decapeptyl® sales reached €88.2 million, up 6.4% year-on-year, supported by strong volume growth in China despite some pricing pressure as well as good sales trends in France and Spain.

Cabometyx® sales reached €14.3 million, driven primarily by the performance in France and Germany and also in the Netherlands and in the UK.

Onivyde® sales reached €17.9 million, stable versus the second quarter.

Dysport® sales reached €77.4 million, up 6.1% year-on-year, led by a solid performance in the United States, notably in aesthetics through the Galderma partnership (despite some unfavorable phasing of shipments) and in the Middle East.

Consumer Healthcare product sales totaled €73.9 million, up 5.0% year-on-year, supported by the good performance of Tanakan® in Russia, as well as Bedelix® and Forlax® in Algeria, offset by a new contractual set up in China which started to impact Etiasa® in the third quarter.

Smecta® sales reached €23.3 million, down 6.4% year-on-year, mainly affected by a negative stocking impact in China and the performance in Russia.

Forlax® sales reached €10.4 million, up 16.7% year-on-year, positively impacted by a favorable basis of comparison in Algeria where import programs were suspended in the third quarter of 2016.

Tanakan® sales reached €11.2 million, up 24.7% year-on-year, driven by a rebound of sales in Russia as compared to 2016 which was impacted by challenging market conditions.

Sources :

[1] Year-on-year growth excluding foreign exchange impacts

[2] Food and Drug Administration (FDA), European Medicines Agency (EMA), Somatostatin Analog (SSA)

 

Last update 26/10/2017