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Ipsen reports profit increase

Ipsen has revealed a rise in profit and sales for the first half of 2011

Ipsen, the French pharmaceutical company, has reported a 21 per cent increase in consolidated net profit to €91.7m in the first half of 2011.

The group's consolidated sales were €583.1m, an increase of 5 per cent on the same period of 2010. Sales were driven by its neurology and endocrinology franchises, and the resilience of its primary care drugs.

Marc de Garidel, chairman and chief executive, said: "Since the announcement of the new strategy on June 9, Ipsen has been gearing up to fulfill its 2020 ambition. To this end, all the positions in the group's executive committee have now been filled and the administrative and employee-related procedures required for authorisation to close the Barcelona R&D site have been completed.

"In Europe, we have just entered into an agreement in haemophilia with our partner Inspiration Biopharmaceuticals to build a strong commercial presence. Lastly, in North America, we began transferring our commercial activities to the east coast. Now that we have laid down the foundations in our vision, we will introduce in the coming months the investments announced on June 9," he added.

The company's R&D expenses increased by 7 per cent to €105.8m in the six month period.

31st August 2011

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