Ipsen announces improved financial targets for 2020

Ipsen has presented a new business strategy and improved financial targets for 2020, based on its recent strong momentum.

The company has predicted that its annual sales will exceed 2.5 billion euros (2.13 billion pounds) by the end of the decade, driven by specialty care sales growth of more than 14 percent per year and consumer healthcare sales growth of between four and six percent.

Its core operating income margin, meanwhile, is expected to exceed 30 percent, with these improvements reflecting the contribution of acquisitions announced in early 2017 and the strong performance of the specialty care business over the last 15 months.

Ipsen has recently benefited from a growing focus on oncology, a product area that already generates almost one billion euros in sales, as well as its increasing geographical diversification and strengthening presence in the US.

David Meek, chief executive officer of Ipsen, said: "We are focused on driving continued double-digit growth, improving profitability and building a sustainable pipeline of innovative and differentiated assets to deliver our improved 2020 guidance and create long-term value to our patients and shareholders."

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