Ipsen announces takeover of OctreoPharm Sciences

Ipsen has announced its acquisition of OctreoPharm Sciences, a company focused on the development of molecular imaging diagnostics and therapeutic products.

The German company creates innovative radioactive labeled compounds, including somatostatin receptor antagonist peptides for the management of neuroendocrine tumours (NETs).

This deal aligns with Ipsen's strategy to extend the scope of its portfolio and its leadership in the field of NET research, taking advantage of OctreoPharm's unique expertise in antagonist peptide development.

Ipsen plans to maintain OctreoPharm's current location and staff to ensure a successful transition of its knowhow and expertise.

Marc de Garidel, chairman and chief executive officer of Ipsen, said: "This is an important step in our ambition to become a global leader in the management of NET, and illustrates the pertinence of our business development strategy."

Last month, the company raised its financial guidance for the year on the back of strong sales during the first quarter of the year.