Ipsen consolidated net profit for first half 2017 down 5%, sales grew 19%
July 27, 2017David Meek, Chief Executive Officer of Ipsen, said that the company’s performance in the first half of 2017 exceeded expectations, leading to an improved financial outlook for the full year.
He noted that sales grew in the first half by an impressive 19% year-on-year and core operating margin improved by 1.2 points, both driven by Specialty Care performance. Group sales were reported as €919.5 million, compared to last year’s same period of €763.8 million.
Consolidated net profit €125.9million, compared to €133.3 million last year, which is -5.5%.
He said: “In the second half of the year, we expect Somatuline to continue along its positive growth trajectory and also an increasing contribution from our new products Cabometyx in Europe and Onivyde in the U.S. We remain focused on the successful execution of the commercial portfolio as well as the transformation of our R&D model to build an innovative and sustainable pipeline.”
