Regulatory News:
Ipsen (Paris:IPN) announced today that, effective from December
24, 2007, it has entered the SBF 120 index, which regroups the 120
largest companies by market capitalization and by trading volumes on
Euronext Paris and serves as a reference for index funds and as a
benchmark for measuring performance of portfolios invested in French
equities. This decision was taken by the NYSE Euronext Indices
Steering Committee ("Conseil Scientifique des Indices").
Jean-Luc Belingard, Chairman and Chief Executive Officer of Ipsen
said: "In 2007, we have continued to achieve all of our key objectives
for the Group´s development. Our partnership with Tercica in the US,
strengthening our endocrine franchise, has well progressed: following
its approval by the FDA(1) in August, Somatuline(R) Depot is now being
launched throughout North America, whilst we have launched
Increlex(R), now the reference treatment for severe primary IGF-1
deficiency, in the UK and Germany. In oncology, we have licensed-in
the rights for a 6-month sustained release formulation of
Decapeptyl(R), that will enable doctors to propose a wider range of
treatment regimens to cancer patients. In neuromuscular disorders, we
have continued to put in place the foundations for globalization,
though the submission with the FDA of a BLA for Dysport(R).
Furthermore, our two partnerships for our botulinum toxin in aesthetic
use are progressing well, with the submission by Medicis with the FDA
of a BLA for Reloxin(R) and with our new partnership with Galderma in
some Latin America countries." Jean-Luc Belingard added: "We expect to
have another very busy year in 2008, with potential recommendations
from the CHMP(2) on febuxostat and on our botulinum toxin in Europe,
and answers from the FDA on Reloxin(R) and Dysport(R) in the US.
Furthermore, Ipsen will continue to demonstrate its long term
commitment to innovation with a yearly spend in Research and
Development of 19 to 21% of its net sales going forward. Also, given
our new environment, we expect the Group´s normative tax rate going
forward to reach 22 to 24%." Jean-Luc Belingard concluded: "We are
very pleased that the Indices Steering Committee has selected the
Ipsen share to enter the SBF 120 index, just two years after our
initial public offering on Euronext. This decision reflects the
soundness of our business and rewards the Ipsen teams for their
commitment to innovation for patient care and to value creation for
our shareholders."
About Ipsen
Ipsen is an innovation driven international specialty
pharmaceutical group with over 20 products on the market and a total
worldwide staff of nearly 4,000. The company´s development strategy is
based on a combination of products in targeted therapeutic areas
(oncology, endocrinology and neuromuscular disorders) which are growth
drivers, and primary care products which contribute significantly to
its research financing. This strategy is also supported by an active
policy of partnerships. The location of its four Research and
Development centres (Paris, Boston, Barcelona, London) gives the Group
a competitive edge in gaining access to leading university research
teams and highly qualified personnel. In 2006, R&D expenditure was EUR
178.3 million, i.e. 20.7% of consolidated sales, which amounted to EUR
861.7 million while total revenues amounted to EUR 945.3 million (in
IFRS). 700 people in R&D are dedicated to the discovery and
development of innovative drugs for patient care. Ipsen´s shares are
traded on Segment A of Eurolist by EuronextTM (stock code: IPN, ISIN
code: FR0010259150). Ipsen´ s shares are eligible to the "Service de
Reglement Differe" ("SRD") and the Group is part of the SBF120 index.
For more information on Ipsen, visit our website at www.ipsen.com.
Forward-looking statements
The forward-looking statements and targets contained herein are
based on Ipsen´s management´s 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. Moreover, the Research and Development
process involves several stages at each of which there is a
substantial risk that the Group will fail to achieve its objectives
and be forced to abandon its efforts in respect of a product in which
it has invested significant sums. Therefore, the Group cannot be
certain that favourable 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, or that the regulatory
authorities will be satisfied with the data and information provided
by the Company. Ipsen 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.
Ipsen´s business is subject to the risk factors outlined in its
information documents filed with the French Autorite des Marches
Financiers.
1 Food and Drug Administration
2 Committee for Human Medicinal Products, EMEA
