Upgrade to guidance on the back of a strong first-half
Ipsen has reported a strong Q2 with sales up 20.1% at CER, boosted by Specialty Care and its threekey products. While opex were slightly higher than expected with no clear leverage from the product
mix, a EUR14m hedging gain was the main reason for margin expansion in H1 and almost fully reflects
the upgrade to FY2018 guidance. EBIT margin is now expected to land at around 29% vs. above 28%
previously. Minor adjustments to make
Ipsen is global biotechnology specialty care company. Co. engages in research, development, manufacture and sale of pharmaceutical products for human healthcare. Co.'s product portfolio includes pharmaceutical products marketed around the world to specialists working in its targeted therapeutic areas (oncology, endocrinology, neurology and haematology). These products are specialist care drugs. Co. also markets products in other therapeutic areas including gastroenterology, cardiovascular and cognitive disorders. These products are primary care drugs. Co.'s brand names include Decapeptyl®, Somatuline®, Dysport®, Nutropin Aq®, Smecta®, Forlax®, Nisis®,Adrovance®, Exforge® and Adenuric®.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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