Ipsen Total Revenues Up 7% In 2009

Ipsen has posted a net income of EUR157.16m, an increase of 6.9%, compared to EUR147.07m. Total revenues were EUR1.11bn, an increase of 7.2%, compared to EUR1.04bn for the same period in 2008.

Consolidated net profit amounted to EUR157.2m, up 6.9% compared to EUR147.1m. Net cash generated by operating activities grew sharply to EUR257.6m compared with EUR203.7m.

For the year 2010, the company expects the specialty care drug sales growth close to 10%, and primary care drug sales decrease of 5 to 7% year-on-year, leading to Group drug sales growth between 3.0 and 5.0% year-on-year. Other revenues close to E50m, depending on the commercial performances of the Group’s partners.

Overall, the Group expects its 2010 Adjusted EPS5 to remain roughly stable compared with a 2009 Recurring Adjusted EPS6 of E1.60, notably in the context of an R&D to sales ratio maintained between 19 to 21% – and of the integration of Inspiration Biopharmaceuticals’ share of loss in the Group’s accounts.

Jean-Luc Belingard, chairman and CEO of Ipsen, said: “We believe the results published today confirm our profile as a profitable, global biotechnology specialty care company. In 2009, we have delivered on our objectives. On the regulatory front, we have obtained four approvals: Azzalure in Europe, Dysport in two indications in the US and Decapeptyl six-month formulation in Europe.

“We have started 2010 by adding a growth pillar to Ipsen through our innovative partnership with Inspiration Biopharmaceuticals in hematology, that further paves the way for our successful transition into a leading global biotechnology specialty care company.”