Ipsen reports encouraging results for first half of 2014

Ipsen has announced its financial results for the first half of 2014, during which it achieved a revenue total of 666.8 million euros (529.58 million pounds).

This represented a year-on-year increase of 0.7 percent, with strong growth exhibited by its key product Somatuline, while a rebound in sales for Decapeptyl was also observed. This helped its specialty care division to perform far above expectations during the period.

The positive drug sales trends combined with continuous cost control measures to deliver a clear improvement in terms of group profitability, with double-digit growth seen in terms of income and earnings.

As a result of its better-than-expected performance during the first half, Ipsen has chosen to raise its financial targets for the full-year period.

Marc de Garidel, chairman and chief executive officer at Ipsen, said: "These good results allow us to raise our sales and profitability objectives for 2014 and to serenely prepare for the future with the launch of Somatuline in the treatment of neuroendocrine tumours."

This week, the company also announced the US availability of a new supply of Increlex, its treatment for growth failure in children with hormonal disorders.