French drugmaker Ipsen (Euronext: IPN) positive financial results for the first half 2016, and raised its full-year guidance, sending the firm’s Ipsen shares up 6.01% to 59.07 euros in early trading. In the first half of 2016, Group sales reached 763.8 million euros ($839.4 million), up 9.7% year-on-year.
Core operating income totaled 188.8 million euros in the first half of 2016, up 12.6%. Core operating margin reached 24.7%, up 1.2 points compared to the first half of 2015, mainly driven by strong business performance, partially offset by investments for the Cabometyx (cabozantinib) launch and the adverse impact of foreign currencies.
Consolidated net profit was 133.3 million, euros up 47.4% over the period, compared to 90.5 million euros in 2015, which included the net impact of the depreciation of intangible assets related to tasquinimod in the amount of €39.6 million after tax. Fully diluted core earnings per share grew by 16.0% year-on-year to reach 1.74 euros.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze