| Q1 2024 | Q1 2023 | % change | |
€m | €m | Actual | CER1 | |
Growth platforms2 | 509.7 | 452.0 | 12.8% | 16.2% |
New medicines3 | 45.5 | 14.3 | n/a | n/a |
Somatuline® | 257.8 | 263.2 | -2.0% | -1.3% |
Other | 9.5 | 12.4 | -23.8% | -20.5% |
Total Sales | 822.4 | 741.9 | 10.9% | 13.3% |
Highlights
- Total-sales growth of 13.3% at CER1, or 10.9% as reported, driven by the 16.2%1 increase in sales of the growth platforms2 and the increased contributions from new medicines, while Somatuline sales declined by only 1.3%1
- Regulatory approval and launch of Onivyde in the
U.S. as a first-line treatment for metastatic pancreatic ductal adenocarcinoma (mPDAC) - Confirmation of financial guidance for 2024
“An excellent first-quarter performance has laid a solid foundation for Ipsen's growth in 2024”, commented
“This year marks a pivotal period for our growth plans, with the launches of four new medicines or indications. Our focus remains on the performance of our portfolio and the expansion of our pipeline, and a well-defined strategy for sustainable growth centred on enhancing the lives and medical outcomes of patients.”
Full-year 2024 guidance
Ipsen has confirmed its financial guidance for 2024, which excludes the impact of any potential additional late-stage4 external-innovation opportunities:
- Total-sales growth greater than 6.0%, at constant currency. Based on the average level of exchange rates in
March 2024 , an adverse impact on total sales of around 1% from currencies is expected - Core operating margin around 30% of total sales, which includes additional R&D expenses from anticipated early and mid-stage external-innovation opportunities
Guidance on total sales incorporates expectations for Somatuline of further generic-lanreotide products in the
Business update
In
In
Ipsen and Skyhawk Therapeutics announced, in
Onivyde litigation
In
Conference call
A conference call and webcast for investors and analysts will begin today at
Calendar
Ipsen intends to publish its half-year and second-quarter results on
Notes
All financial figures are in € millions (€m). The performance shown in this announcement covers the three-month period to
About Ipsen
We are a global biopharmaceutical company with a focus on bringing transformative medicines to patients in three therapeutic areas: Oncology, Rare Disease and Neuroscience. Our pipeline is fuelled by external innovation and supported by nearly 100 years of development experience and global hubs in the
Ipsen is listed in
Ipsen contacts
Investors
- Craig Marks +44 (0)7584 349 193
- Nicolas Bogler +33 6 52 19 98 92
Media
- Amy Wolf +41 79 576 07 23
- Ioana Piscociu +33 6 69 09 12 96
Disclaimers and/or forward-looking statements
The forward-looking statements, objectives and targets contained herein are based on Ipsen’s management strategy, current views and assumptions. Such statements involve known and unknown risks and uncertainties that may cause actual results, performance or events to differ materially from those anticipated herein. All of the above risks could affect Ipsen’s future ability to achieve its financial targets, which were set assuming reasonable macroeconomic conditions based on the information available today. Use of the words ‘believes’, ‘anticipates’ and ‘expects’ and similar expressions are intended to identify forward-looking statements, including Ipsen’s expectations regarding future events, including regulatory filings and determinations. Moreover, the targets described in this document were prepared without taking into account external-growth assumptions and potential future acquisitions, which may alter these parameters. These objectives are based on data and assumptions regarded as reasonable by Ipsen. These targets depend on conditions or facts likely to happen in the future, and not exclusively on historical data. Actual results may depart significantly from these targets given the occurrence of certain risks and uncertainties, notably the fact that a promising medicine in early development phase or clinical trial may end up never being launched on the market or reaching its commercial targets, notably for regulatory or competition reasons. Ipsen must face or might face competition from generic medicine that might translate into a loss of market share. Furthermore, the research and development process involves several stages each of which involves the substantial risk that Ipsen may fail to achieve its objectives and be forced to abandon its efforts with regards to a medicine in which it has invested significant sums. Therefore, Ipsen cannot be certain that favorable results obtained during preclinical trials will be confirmed subsequently during clinical trials, or that the results of clinical trials will be sufficient to demonstrate the safe and effective nature of the medicine concerned. There can be no guarantees a medicine will receive the necessary regulatory approvals or that the medicine will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Other risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and healthcare legislation; global trends toward healthcare cost containment; technological advances, new medicine and patents attained by competitors; challenges inherent in new-medicine development, including obtaining regulatory approval; Ipsen’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of Ipsen’s patents and other protections for innovative medicines; and the exposure to litigation, including patent litigation, and/or regulatory actions. Ipsen also depends on third parties to develop and market some of its medicines which could potentially generate substantial royalties; these partners could behave in such ways which could cause damage to Ipsen’s activities and financial results. Ipsen cannot be certain that its partners will fulfil their obligations. It might be unable to obtain any benefit from those agreements. A default by any of Ipsen’s partners could generate lower revenues than expected. Such situations could have a negative impact on Ipsen’s business, financial position or performance. Ipsen expressly disclaims any obligation or undertaking to update or revise any forward-looking statements, targets or estimates contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based, unless so required by applicable law. Ipsen’s business is subject to the risk factors outlined in its registration documents filed with the French Autorité des Marchés Financiers. The risks and uncertainties set out are not exhaustive and the reader is advised to refer to Ipsen’s latest Universal Registration Document, available on ipsen.com.
1 At constant exchange rates (CER), which exclude any foreign-exchange impact by recalculating the performance for the relevant period by applying the exchange rates used for the prior period.
2 Dysport® (abobotulinumtoxinA), Decapeptyl® (triptorelin), Cabometyx® (cabozantinib) and Onivyde® (irinotecan).
3 Bylvay® (odevixibat), Tazverik® (tazemetostat) and Sohonos® (palovarotene).
4 Phase III clinical development or later.
Attachment
- Ipsen - Q1 2024 - sales announcement
Source:
2024 GlobeNewswire, Inc., source