Ipsen reports strong results in third quarter of 2012

Ipsen has published its financial results for the third quarter of 2012, during which it experienced a five percent year-on-year increase in group sales.

The company's revenues for the quarter came to 294.9 million euros (236.94 million pounds), with the rise driven by trends such as a 14.9 percent increase in specialty care sales.

Ipsen's strong performance in North America and other international territories helped to offset the more difficult conditions seen in the European market, while its three core franchises experienced double-digit increases.

With the encouraging results from the first nine months of the year in mind, the firm has raised its financial targets for 2012 as a whole.

Marc de Garidel, chairman and chief executive officer of Ipsen, said: "We believe our specialty care activity shows robustness and resilience in the current macroeconomic environment and challenging market conditions."

Earlier this month, the company announced plans to initiate a phase II proof-of-concept clinical trial to assess its drug tasquinimod across several new cancer indications.