Ipsen Highlights New Strategic Priorities and Provides Mid-Term Financial Outlook
Ipsen (Euronext: IPN; ADR: IPSEY), a specialty-care focused biopharmaceutical group, today will host a virtual Capital Markets Day to highlight the Group’s new strategic priorities with the aim of driving continued growth and bringing transformative medicines to patients.
David Loew, Chief Executive Officer of Ipsen stated: “Our new Group strategy positions Ipsen for long-term success by focusing together for patients and society. We will reinforce our commitment to Oncology, Rare Disease and Neuroscience by strengthening and accelerating our external innovation efforts and pipeline in clearly-defined segments. Through prioritization and collaboration, we will drive efficiencies to support investment in our pipeline. We are building on a strong foundation of engaged employees, agile development capabilities and global commercial footprint. I am energized to execute on our key strategic priorities to create long-term value for all stakeholders.”
Bring the full potential of innovative medicines to patients
Ipsen is focused on maximizing the value of its current Specialty Care product portfolio through commercial excellence and geographic expansion. The Group aims to maximize its core brands Somatuline® (lanreotide), Decapeptyl® (triptoreline) and Dysport® (botulinum toxin type A) and capture the full potential of its innovative oncology products Cabometyx® (cabozantinib) and Onivyde® (irinotecan liposome injection). If approved, the launch of palovarotene will be a key milestone to bring this medicine to patients with FOP and strengthen Ipsen’s presence in Rare Disease.
A strategic review of the Consumer Healthcare business is proceeding.
Build a high-value sustainable pipeline
Ipsen’s priority is to build a sustainable pipeline to drive long-term growth. Recent initiatives have prioritized the pipeline on the highest potential opportunities and progressed the transformation of the R&D organization. Ipsen is strengthening its external innovation efforts by targeting differentiated medicines in its three core therapeutics areas of Oncology, Rare Disease and Neuroscience, with a broader disease and modality scope than previously defined, and across all stages of clinical development.
Deliver efficiencies to enable targeted investment & growth
Ipsen is committed to generating efficiencies through a focused and agile operating model. Leveraging smart spending, streamlined operations, manufacturing efficiencies and optimizing digitalization, the Group will be able to reinvest in R&D and external innovation to fuel future growth.
Boost culture of collaboration & excellence
Patients and society are at the core of Ipsen’s mission, starting with fully engaged employees and a culture of accountability to perform and compete in the long-term. Ipsen is highly committed to its corporate social responsibility (CSR) initiatives which are centered around employees, community and the environment, as reflected throughout the organization and in the inclusion of responsibility metrics in management compensation.
Mid-term financial outlook and capital allocation strategy
Ipsen provides its financial outlook for the period 2020-20241:
- Group Net Sales CAGR2 between +2% and +5%3 , assuming potential additional indications
Commitment to invest in R&D supported by SG&A efficiencies
- Lower SG&A as a percentage of net sales driven by further focus and optimization
- Higher R&D as a percentage of net sales driven by external innovation strategy
External innovation is Ipsen’s number one priority for capital allocation. In support of its external innovation strategy, Ipsen expects to generate by 2024 a cumulative €3bn4 of firepower for pipeline expansion, excluding the sale of any assets.
Ipsen will host a video webcast of the Capital Markets Day on Tuesday, 1 December 2020 from 2:00 p.m. to 5:00 p.m. CET (GMT+1) available at www.ipsen.com. Participants should log in to the webcast approximately 5 to 10 minutes prior to its start. No reservation is required to participate in the conference call.
Webcast link: https://ipsencapitalmarketsday2020.online-event.fr/
Please note this event will be streamed live. No dial-in number available.
A recording will be available for 14 days on Ipsen’s website.
Ipsen is a global specialty-driven biopharmaceutical group focused on innovation and Specialty Care. The Group develops and commercializes innovative medicines in three key therapeutic areas – Oncology, Neuroscience and Rare Diseases. Its commitment to oncology is exemplified through its growing portfolio of key therapies for prostate cancer, neuroendocrine tumors, renal cell carcinoma and pancreatic cancer. Ipsen also has a well-established Consumer Healthcare business. With total sales over €2.5 billion in 2019, Ipsen sells more than 20 drugs in over 115 countries, with a direct commercial presence in more than 30 countries. Ipsen’s R&D is focused on its innovative and differentiated technological platforms located in the heart of the leading biotechnological and life sciences hubs (Paris-Saclay, France; Oxford, UK; Cambridge, US). The Group has about 5,700 employees worldwide. Ipsen is listed in Paris (Euronext: IPN) and in the United States through a Sponsored Level I American Depositary Receipt program (ADR: IPSEY). For more information on Ipsen, visit www.ipsen.com.fr
Forward Looking Statement
The forward-looking statements, objectives and targets contained herein are based on the Group’s management strategy, current views and assumptions. Such statements involve known and unknown risks and uncertainties that may cause actual results, performance or events to differ materially from those anticipated herein. All of the above risks could affect the Group’s future ability to achieve its financial targets, which were set assuming reasonable macroeconomic conditions based on the information available today. Use of the words "believes", "anticipates" and "expects" and similar expressions are intended to identify forward-looking statements, including the Group’s expectations regarding future events, including regulatory filings and determinations. Moreover, the targets described in this document were prepared without taking into account external growth assumptions and potential future acquisitions, which may alter these parameters. These objectives are based on data and assumptions regarded as reasonable by the Group. These targets depend on conditions or facts likely to happen in the future, and not exclusively on historical data. Actual results may depart significantly from these targets given the occurrence of certain risks and uncertainties, notably the fact that a promising product in early development phase or clinical trial may end up never being launched on the market or reaching its commercial targets, notably for regulatory or competition reasons. The Group must face or might face competition from generic products that might translate into a loss of market share. Furthermore, the Research and Development process involves several stages each of which involves the substantial risk that the Group may fail to achieve its objectives and be forced to abandon its efforts with regards to a product in which it has invested significant sums. Therefore, the Group cannot be certain that favorable results obtained during pre-clinical trials will be confirmed subsequently during clinical trials, or that the results of clinical trials will be sufficient to demonstrate the safe and effective nature of the product concerned. There can be no guarantees a product will receive the necessary regulatory approvals or that the product will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Other risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the Group's ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the Group’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. The Group is dependent on prices set for drugs, pricing and reimbursement reforms and is vulnerable to the potential withdrawal of certain drugs from the list of reimbursable products by governments, and the relevant regulatory authorities in its locations. In light of the economic crisis caused by the COVID-19 pandemic, there could be increased pressure on the pharmaceutical industry to lower drug prices. The Group also depends on third parties to develop and market some of its products which could potentially generate substantial royalties; these partners could behave in such ways which could cause damage to the Group’s activities and financial results. The Group cannot be certain that its partners will fulfil their obligations. It might be unable to obtain any benefit from those agreements. A default by any of the Group’s partners could generate lower revenues than expected. Such situations could have a negative impact on the Group’s business, financial position or performance. The Group expressly disclaims any obligation or undertaking to update or revise any forward-looking statements, targets or estimates contained in this press release to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based, unless so required by applicable law. The Group’s business is subject to the risk factors outlined in its registration documents filed with the French Autorité des Marchés Financiers. The risks and uncertainties set out are not exhaustive and the reader is advised to refer to the Group’s 2019 Universal Registration Document available on its website www.ipsen.com.
1 Ipsen is on track to deliver its previous 2022 financial targets and is committed now to a new 2024 financial outlook
2 Compound Annual Growth Rate
3 At constant exchange rates and scope
4 Based on Net Debt remaining below 2.0x EBITDA
Vice President, Investor Relations
+44 (0) 1753 627721
Director, Ipsen France Hub, Global Communications
+33 (0) 1 58 33 58 96
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
AriBio Co., Ltd. Announces Last Patient Last Visit in Phase 2 Clinical Trial of AR1001 in Mild to Moderate Alzheimer’s Patients21.1.2021 13:14:00 EET | Press release
AriBio Co., Ltd., a clinical-stage biopharmaceutical company based in South Korea, announced today, 21st of January 2021, the completion of last patient last visit in a Phase 2 study of AR1001. AR1001 is a first-in-class, orally dosed investigational drug for mild to moderate Alzheimer’s disease. A total of 210 patients were enrolled, and 171 (81.4%) subjects completed 6-month dosing in the study. “We are pleased to report the achievement of this critical milestone, and AriBio is looking forward to announcing the topline results by the end of Q1’2021. Despite the challenges presented by the COVID-19 pandemic, we were able to complete dosing and follow-up assessments in this trial. We are extremely grateful to our study participants, their family members and healthcare professionals who worked tirelessly to complete the primary assessments of the study,” said James Rock, Senior Vice President of Clinical Operations. AriBio offered an optional 6-month extension phase of the study, where
Polpharma Biologics Announces Rebrand and Launch of New Value “We Care” as 2000 L Bioreactors Begin Validation at Its Warsaw Site21.1.2021 12:41:00 EET | Press release
European biotechnology company Polpharma Biologics has unveiled a new logo and corporate message as part of an extensive rebranding initiative. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210121005383/en/ Dr Joerg Windisch, CEO of Polpharma Biologics, said “Our new brand represents our passion and dedication to innovation, we utilize the latest technology and cutting-edge techniques to discover and advance ground breaking biologics to the clinic, whether this is our own pipeline or that of our partners. The industry is rapidly reducing the time to develop and manufacture new molecules, this is down to significant improvements in automation with many previously time consuming steps replaced with equipment that can analyze thousands of samples in minutes incredibly accurately. Throughout our entire process from early stage discovery, through cell line development and process development and to fill finish we have adopted th
EMEA Sourcing Market Reaches Record High in Q4: ISG Index™21.1.2021 12:00:00 EET | Press release
Shrugging off the effects of the pandemic, the Europe, Middle East and Africa (EMEA) sourcing market delivered its best quarterly performance ever, with record demand for cloud-based services and a resurgence in managed services, according to the latest state-of-the-industry report from Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm. The EMEA ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of €5 million (£4 million) or more, shows ACV for the combined market, which includes both as-a-service and managed services, reached a record €5.1 billion (£4.6 billion), up 18 percent, in the fourth quarter. Cloud-based as-a-service ACV reached a quarterly record of €1.8 billion (£1.6 billion), up 25 percent over the prior year, as enterprises continue to move more work to the cloud. Infrastructure-as-a-Service (IaaS) climbed 34 percent, to €1.3 billion (£1.2 billion), while software-as-a-service (S
NeXR Technologies SE and H&Mbeyond. Start Cooperation on Virtual Fitting21.1.2021 11:37:00 EET | Press release
NeXR Technologies SE (XETRA: NXR) takes further steps in the development of innovation for stationary retail and enters into a groundbreaking cooperation with H&Mbeyond. The aim of the cooperation is to develop a virtual fitting solution, a "digital fitting room", which enables customers to try on individually exact fit looks digitally, quickly and easily. A prototype is planned for summer 2021. In selected stores, customers will then be able to have themselves scanned and receive their personal avatar, an exact digital image. With the aid of an app, customers will be able to try on matching styles on their own avatar, thus assuring their purchase decision. The technology is based on the 3D photogrammetry scanner developed by NeXR, which was further developed in cooperation with H&Mbeyond.H&Mbeyond. not only wants to offer customers an exciting digital shopping experience but also to analyze the influence that scanning solutions like this can have on returns behavior. Oliver Lange, H&M
Mano Būstas Partners with Airship to Power Proactive, Anticipatory Communications with Customers21.1.2021 11:00:00 EET | Press release
Customer engagement company Airship and City Service, one of the largest corporate groups engaged in facility and property management and integrated utility services in Europe, today unveiled a new partnership that will streamline communications between its Lithuanian property management company, Mano Būstas and its hundreds of customers across the region. Beginning in January, Airship’s Customer Engagement Platform will enable Mano Būstas to automate communication with customers across in-app messaging, push notifications, email, and SMS, offering a better customer service experience by proactively answering common questions throughout all stages of the customer lifecycle. City Service is offering the new services to Mano Būstas clients at a first stage, with plans to roll out the cooperation to other businesses and countries later in the year. This collaboration is part of City Service’s strategic direction towards digitalising and automating their full business processes in order to
Kinetic Vision Improves PCB Workflow by 500% with Altium 36521.1.2021 10:30:00 EET | Press release
A long-term change in the way that the various stakeholders in the electronics industry work together is taking place. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210120005796/en/ In Altium Designer, Kinetic Vision found a PCB design solution for all of their projects that best supports the production of smart products that incorporate electronics, circuit boards and communications chipsets. (Photo: Altium LLC) Whether working from home, office or traveling for business, the need to work from anywhere in the world without being tethered to your desktop is here to stay. Altium is paving the way for engineers and designers to work from anywhere, and connect with anyone by making the Altium Designer user experience more collaborative and more readily available than ever before. Altium customer Kinetic Vision, a Cincinnati-based design, engineering, and development firm, is an innovator’s one-stop-shop for transforming even t
Temenos Hits Milestone of 60 Challenger Bank Clients, Confirming Status as Technology Provider of Choice21.1.2021 10:30:00 EET | Press release
Temenos (SIX: TEMN), the banking software company, announced that it has exceeded 60 challenger bank clients confirming its status as the technology provider of choice for this growing segment. With the rich functionality of Temenos’ integrated front-to-back SaaS offering, challenger banks can launch rapidly, scale fast, provide differentiated services to customers and grow profitably. A raft of digital banks – such as Alba, Alpian, Banco del Sol, Flowe, FlowBank, Lunar, Next Commercial Bank, Pepper, Varo Bank and WeLab Bank – have selected Temenos’ cloud-native, cloud-agnostic technology, joining the 3000+ Temenos customers around the globe including 41 out of the top 50 banks that run Temenos. News of Temenos exceeding the 60-bank milestone comes as the company launches new functionality designed specifically to cater to this fast-growing segment. Temenos Infinity helps challengers deliver frictionless onboarding experiences for SMEs, while offering robust protection from fraud with
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom