Ipsen fares well since Bourse listing

French drugmaker Ipsen, which specializes in the development of oncology, endocrinology drugs and treatments for neuromuscular disorders, has seen its share price improve by some 35% since it was listed on the Paris Bourse last December. The stock rose nearly 7% at the time but, after reporting results for 2005, the price went up to 29.90 euros, a rise of 34.7%. The capital value of the company, which has 21 drug products in the development pipeline, has risen around 600.0 million euros ($730.5 million) to 2.5 billion billion.

Net profits went up 25% last year to 149.0 million euros with operating margin up from 20.8% to 23% for 2005. Sales increased 7% to 807.0 million euros. Its three main indication areas, which account for nearly 50% of turnover expanded revenues 10% in 2005 compared with a rise of 4% for the company's general medical division, which accounts for the balance of sales. The latter division is concerned with treatments for cognitive, cardiovascular and gastro-enterological conditions.

The group said its leading product by sales, Decapeptyl (triporelin), recorded turnover of 210.6 million euros, up just 6.1% on 2004, because growth was hampered by lower regulatory prices imposed in a number of western European markets, including Italy, Spain, Belgium and the UK. The antihypertensive Tanakan (gingko biloba) achieved a 4.0% rise in revenues to 121.0 million euros, 73.2% of which came from France, while Dysport (botulinum toxin type A) grew 12.4% to 92.5 million euros.