Ipsen sees 3rd-qtr revenues growth of 22.6%, but shares fall

Despite reporting significant sales growth for the third-quarter of 2017, French biopharma firm Ipsen (Euronext: IPN) saw its shares drop 6.43% to 105.50 euros in morning trading.

Group sales for the quarter grew 22.6% to 470.1 million euros ($555.2 million),driven by Specialty Care sales growth of 26.5% to 396.2 million eurosreflecting continued Somatuline (lanreotide)momentum and increasing contribution of new products Cabometyx (cabozantinib) and Onivyde (irinotecan), and solid Consumer Healthcare sales growth of 5.0% to 73.9 million euros.

Year-to-date group sales growth of 20.1% wasfueled by Specialty Care sales growth of 24.3%and Consumer Healthcare back to growth at 2.5%.