IPSEN: Q1 2022: solid sales figures, however slight negative effect of generics – Neutral vs Buy | NEUTRAL vs. BUY | EUR110(0%)
IPSEN - NEUTRAL vs. BUY | EUR110(0%)Q1 2022: solid sales figures, however slight negative effect of generics – Neutral vs Buy
Ipsen published Q1 2022 solid sales figures 3% ahead of CS. Somatuline is more or less flat at EUR286m (EUR28.7m expected) showing that generics started to have negative impact (however limited yet). Decapeptyl (EU129.2m) and Dysport (EU118.4m) continue to be very solid. However, with the recent share price increase we decided to downgrade to Neutral vs Buy. We believe the company is fairly valued with its existing business. We are now waiting for the next BD deal before any potential change in our rating (and TP).
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.