Ipsen reports strong double-digit sales growth in First Quarter 2019 and confirms Full Year 2019 financial targets

Paris (France), 24 April 2019 – Ipsen (Euronext: IPN; ADR: IPSEY), a global specialty-driven biopharmaceutical group, today announced its sales for the first quarter of 2019.

• Q1 2019 Group sales growth of 17.0% as reported, or 15.8%¹ at constant exchange rates and consolidation scope driven by:
  • Specialty Care sales growth of 17.6%¹, with continued strong momentum across all major products and geographies
  • Consumer Healthcare sales growth of 3.3%¹

• Full Year 2019 guidance confirmed following the completion of the acquisition of Clementia Pharmaceuticals on 17 April:
  • Group sales growth greater than 13.0%¹ at constant exchange rates and consolidation scope. Based on the current level of exchange rates, there is an expected +2.0% impact from currencies.
  • Core Operating Income margin around 30.0% of net sales (excluding incremental investments in pipeline expansion initiatives)

First quarter 2019 unaudited IFRS consolidated sales

David Meek, Chief Executive Officer of Ipsen stated: “With robust double-digit sales growth in the first quarter, Ipsen is on track for another year of outstanding business execution. The Specialty Care business continues to thrive across all major products and geographies with volume and market share gains. We are accelerating the ongoing transformation of Ipsen by executing on our external innovation strategy to strengthen the R&D pipeline with novel first and best-in-class assets.
“Notably, in the first quarter, we announced and completed the acquisition of Clementia Pharmaceuticals, a company focused on the treatment of rare and severely-disabling bone disorders. Palovarotene is a largely de-risked near-term launch opportunity with significant upside potential. Together, with our new colleagues from Clementia, we will leverage our combined scientific and development expertise to deliver new treatments to patients with high unmet medical needs.”

Conference call

Ipsen will host a conference call on Wednesday 24 April 2019 at 2:30 p.m. (Paris time, GMT+1). A conference call will take place and a web conference (audio and slides) will be available at www.ipsen.com. Participants should dial in to the call approximately 5 to 10 minutes prior to its start. No reservation is required to participate in the conference call.
Standard International: +44 (0) 2071-928-000
France and continental Europe: + 33 (0) 1 76 70 07 94
UK: 08-445-718-892
U.S.: 1-6315-107-495
Conference ID: 9846139
A recording will be available for 7 days on Ipsen’s website.

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1. At constant exchange rates and reflecting a change in the consolidation method for joint arrangements related to the Consumer Healthcare Schwabe partnership. Year-on-year growth excluding foreign exchange impact established by recalculating net sales for the relevant period at the rate used for the previous period.

Attachment

• Q1-2019-Sales-announcement