Ipsen 1st-half sales up 9.5%, driven by Specialty Care unit

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.