Ipsen : Un rendement faible mais suffisant vu le profil de risque équilibré. Achat confirmé sur l’obligation 2023
L’obligation Ipsen a connu un parcours satisfaisant depuis l’émission en 2016. La prime de 70bps sur les obligations BBB à l’émission s’est nettement resserrée jusqu’à fin 2018 dans un contexte d’aversion au risque. Toutefois, l’obligation affiche de nouveau depuis le début de l’année une prime de l’ordre de 40bps. Le newsflow a en effet été mitigé au S1 avec 1/ l’annonce de l’acquisition de Clementia, une opération prometteuse à long terme mais pénalisante à court terme sur les ...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®.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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