Ipsen exceeds expectations in 2012 business year

Ipsen has published its financial results for the 2012 business year, during which it was able to deliver better-than-expected levels of sales growth.

The pharmaceutical company's revenue total for the year came to 1.28 billion euros (1.1 billion pounds), up by 5.6 percent on 2011, while its operating profit level surged by 58.2 percent to 114.8 million euros.

This came despite the depressed conditions seen in its native French market and reflected a year-on-year improvement in group sales, as well as the receipt of revenues stemming from certain key co-promotion and co-marketing agreements.

During the year, Ipsen was able to increase its investment in research and development of key compounds, while allocating additional resources to emerging markets such as China, Russia and Brazil.

The firm has also been agreeing deals to sell off a number of haemophilia assets to other companies over the last few weeks, thus streamlining its strategic focus.

Marc de Garidel, chairman and chief executive officer of Ipsen, said: "2012's results highlight the group’s resilience, with both sales and profitability objectives beaten in the context of a challenging French primary care environment."