Ipsen stock rises on positive outlook and strong 2016 financials

23 February 2017

French specialty pharma group Ipsen (Euronext: IPN) today announced a strong set of financial results for the full year 2016 and said it expects further sales growth and margin enhancement for 2017, sending the company’s shares 6.84% to 82.79 euros by mid-morning trading.

In 2016, group sales reached 1.58 billion euros ($1.67 billion), up 11.8% year-on-year.

Core Operating Income totaled 363.9 million euros, up 11.1%. Core operating margin reached 23.0%, up 0.3 points compared to 2015, mainly driven by strong business performance, partially offset by investments for the Cabometyx (cabozantinib) launch and the adverse impact of foreign currencies.

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