Ipsen reports growth in first half of 2011

Ipsen has published its half-yearly financial results for the first six months of 2011, during which it experienced "dynamic" year-on-year growth.

The company's consolidated sales total for the period came to 619.4 million euros (548.8 million pounds), up by 5.8 percent compared to the first half of 2010, while drug sales rose by 5.2 percent.

Marc de Garidel, Ipsen's chairman and chief executive officer, attributed this rise to a strong performance by its specialty care portfolio, adding that this has led the company to increase its financial targets for the full year.

Specialty care is expected to continue to lead the company's growth across 2011, with sales forecast to rise by eight percent year over year.

Mr de Garidel added that 2011 remains likely to be a transitional year for Ipsen, due to its recent strategic review and refocused spending plans, particularly as regards the ten phase III clinical trials it is currently conducting.

This comes after Ipsen announced earlier this month that it will be creating a new haemophilia-oriented commercial organisation with Inspiration Biopharmaceuticals, which will support the latter's debut in the European market.