|
|
|
|
|
terug |
Datum nieuwsfeit: 01-02-2007
( BW)(IPSEN)(IPN.PA) Ipsen's Full Year 2006 Sales
Pharmaceutical Writers/Business Editors
PARIS--(BUSINESS WIRE)--Feb. 1, 2007--Ipsen (Paris:IPN):
-- Solid Growth of Drug Sales : +7.6%
-- Strong and Continued Dynamics in Strategic Targeted
Therapeutic Areas: +13.4%
-- Strong Growth Outside the Five Major Western European
Countries: +19.3%
-- Group Sales Growth of +6.8% for the Full Year 2006, in Line
with Objectives
Ipsen (Paris:IPN) reported today its sales for the full year 2006.
Unaudited IFRS Consolidated sales (1)
-0-
*T
(in million euros) 2006 2005 % change
---------------------------------------------- ------ ------ ---------
Total Drug Sales 834.6 775.9 +7.6%
---------------------------------------------- ------ ------ ---------
of which:
---------------------------------------------- ------ ------ ---------
Targeted Therapeutic Areas 443.8 391.2 +13.4%
---------------------------------------------- ------ ------ ---------
Primary care 386.6 377.7 +2.4%
---------------------------------------------- ------ ------ ---------
Drug-related Sales (2) 27.1 31.2 (13.3)%
---------------------------------------------- ------ ------ ---------
Group Sales 861.7 807.1 +6.8%
---------------------------------------------- ------ ------ ---------
*T
Full year 2006 sales highlight
For the full year 2006, Group sales reached EUR 861.7 million, up
6.8% year-on-year (full year 2005, EUR 807.1 million) driven by strong
growth of the specialist care products in Ipsen's Targeted Therapeutic
Areas (oncology, endocrinology, neuromuscular disorders), with sales
up 13.4% year-on-year, further accelerating growth compared to last
year's performance of +10.4%. This performance was driven notably by
the endocrinology franchise, with sales up 23.2% year-on-year and by
the neuromuscular disorders franchise, with sales up 22.5%
year-on-year. All Primary Care products showed solid growth, except
Ginkor Fort(R) which continued to suffer from cost-containment
measures enforced in February 2006(3) by the French Government. The
other primary care products grew by 9.0% year-on-year, driven notably
by the good performance of the gastroenterology franchise in Asia and
Eastern Europe, continued growth of Tanakan(R) particularly in Russia
and selected Eastern Europe countries, and continued strong
performance of Nisis(R) and Nisisco(R) in France. Overall, drug sales
posted a solid 7.6% growth year-on-year, while drug related activities
decreased 13.3% year-on year, due mostly to lower sales of active
ingredients, mainly the Ginkgo biloba extract (EGb 761(R)) and to
lower sales from Linnea, a non-strategic botanical extract
manufacturing and trading activity.
Sales in Major Western European countries reached EUR 551.7
million, a slight 0.8% increase over last-year. The performance in
these countries has been negatively impacted by price cuts and the
Ginkor Fort(R) volume decrease that resulted from the French
government's decision to reduce its reimbursement rate, nearly
offsetting a solid underlying volume growth in the rest of the product
portfolio. In Other European countries, sales reached EUR 184.8
million, up 18.5% in 2006, while in the Rest of the World, sales
amounted to EUR 125.2 million, up 20.5% compared with 2005. In these
last two areas, growth was driven by endocrinology products and by
Dysport(R). Overall, sales outside the Major Western European
Countries grew by 19.3% year-on-year.
Commenting on the performance in 2006, Jean-Luc Belingard,
Chairman and Chief Executive Officer of Ipsen, stated: "We are pleased
to report a 7.6% increase in our drug sales despite the challenging
environment for our industry. In this context, Ipsen's top line growth
reached 6.8%, in line with the objectives we set for the Group one
year ago. This sound performance illustrates the quality of Ipsen's
portfolio of molecules and of its international footprint and market
coverage. On this basis, we confirm our 6.5% to 7.5% sales growth
objective in 2007 before the impact of a future price reduction in
France of Tanakan(R) following the statements made by the French
Health Ministry on October 25, 2006 about the class of
vasodilatators." Jean-Luc Belingard added: "The international
performance of our specialist care franchise (oncology, endocrinology
and neuromuscular disorders) in 2006 further validates our strategic
focus and is a strong foundation for the company's future growth. We
are also pleased with the resilience our primary care products have
shown in a very difficult environment. Since its listing a year ago,
the Company has delivered on all its strategic and financial
objectives. In 2007, Ipsen will continue its efforts to rigorously
execute its strategy to grow its top line and profits in its
specialist care business by providing innovative drug therapy, to
optimize its returns in its primary care activity through selected
product life cycle management and focused investments and to globalise
through active geographical expansion policy."
About Ipsen
Ipsen is a European pharmaceutical group with over 20 products on
the market and a total worldwide staff of nearly 4 000. The company's
development strategy is based on a combination of products in targeted
therapeutic areas (oncology, endocrinology and neuromuscular
disorders) which are growth drivers and primary care products which
contribute significantly to its research financing. This strategy is
also supported by an active policy of partnerships. The location of
its four R&D centres (Paris, Boston, Barcelona, London) gives the
Group a competitive edge in gaining access to leading university
research teams and highly qualified personnel. In 2005, Research and
Development expenditure reached EUR 169.0 million, i.e. 20.9% of
consolidated sales, which amounted to EUR 807.1 million in the Group's
pro forma accounts set up according to the IFRS. Nearly 700 people in
R&D are dedicated to the discovery and development of innovative drugs
for patient care. Ipsen's shares are traded on Segment A of Eurolist
by Euronext(TM) (stock code: IPN, ISIN code: FR0010259150). Ipsen's
Internet website is www.ipsen.com.
Forward-looking statements
The forward-looking statements and targets contained herein are
based on Ipsen's management's current views and assumptions. Such
statements involve known and unknown risks and uncertainties that may
cause actual results, performance or events to differ materially from
those anticipated herein.
Ipsen expressly disclaims any obligation or undertaking to update
or revise any forward-looking statements, targets or estimates
contained in this press release to reflect any change in events,
conditions, assumptions or circumstances on which any such statements
are based unless so required by applicable law. Ipsen's business is
subject to the risk factors outlined in its information documents
filed with the French Autorite des Marches Financiers.
APPENDIX
Comparison of consolidated sales in the fourth quarters and full
years 2006 and 2005
-0-
*T
Unaudited IFRS
Consolidated 4th quarter 12 months
Sales(4)
----------------------- -------------------------
(in thousand euros) 2006 2005 % 2006 2005 %
-------------------- -------- -------- ----- -------- -------- -------
Total Drug Sales 204,143 193,888 +5.3% 834,583 775,877 +7.6%
-------------------- -------- -------- ----- -------- -------- -------
of which:
-------------------- -------- -------- ----- -------- -------- -------
Targeted
Therapeutic Areas 107,242 98,287 +9.1% 443,806 391,202 +13.4%
-------------------- -------- -------- ----- -------- -------- -------
Primary care 95,596 93,986 +1.7% 386,580 377,654 +2.4%
-------------------- -------- -------- ----- -------- -------- -------
Drug-related
Sales(5) 6,349 6,336 +0.2% 27,093 31,237 (13.3)%
-------------------- -------- -------- ----- -------- -------- -------
Group Sales 210,492 200,224 +5.1% 861,676 807,114 +6.8%
-------------------- -------- -------- ----- -------- -------- -------
*T
Note: Since the Group sold its primary care business in Spain
(except Tanakene(R)) in October 2005, the Group is presenting this
business as a "discontinued operation" retroactively from 1
January 2005 in its consolidated financial statements. Accordingly,
the consolidated sales figures for the fourth quarter and full year
2005 do not include sales for this activity.
Fourth quarter of 2006 sales highlights
For the fourth quarter of 2006, Group sales reached EUR 210.5
million, up 5.1% year-on-year (fourth quarter 2005, EUR 200.2 million)
driven by Targeted Therapeutic Areas growing 9.1% year on year, led by
endocrinology sales which grew 19.9% year-on-year. Primary care
products grew by 1.7% year-on-year, driven notably by a good
performance in Asia, Central and Eastern Europe and Latin America,
despite a slowdown in Major Western European countries. Sales of
Ginkor Fort(R) continued to suffer from French Government measures
enforced in February 2006 (reduction of its reimbursement rate from
35% to 15% as well as a 15% price reduction on the entire veinotonic
class of drugs).
Excluding Ginkor Fort(R), Group sales rose 8.4% year-on-year in
the fourth quarter of 2006.
2006 sales highlights
For the full year 2006, consolidated Group sales reached EUR 861.7
million, up 6.8% year-on-year (6.7% excluding foreign exchange
impacts). Drug sales posted a solid 7.6% growth year-on-year, driven
by Targeted Therapeutic Areas which grew by 13.4%, further
accelerating growth year on year, while primary care drug sales only
grew by 2.4% in the same period, being negatively affected by slow
sales of Ginkor Fort(R) in France. This solid growth in drug sales was
hampered by slow sales of drug-related activities (active ingredients
and raw materials) which decreased by 13.3% year-on year, due to lower
sales of active ingredients, mainly the Gingko biloba extract (EGb
761(R)) and to lower sales from Linnea, a non-strategic botanical
extract manufacturing and trading activity.
For the full year 2006, volumes grew by 9.1%, with price decreases
negatively impacting Ipsen's consolidated sales growth by 2.4 points,
representing EUR 19.4 million.
Excluding Ginkor Fort(R), Group sales rose 9.9% year-on-year in
2006.
Sales by therapeutic areas
The following table shows sales by therapeutic areas for the
fourth quarters and full years 2006 and 2005:
-0-
*T
4th quarter 12 months
------------------------- -------------------------
(in thousand
euros) 2006 2005 % 2006 2005 %
------------------ -------- -------- ------- -------- -------- -------
Products in
targeted
therapeutic areas
------------------ -------- -------- ------- -------- -------- -------
- Oncology 53,544 51,341 4.3% 222,039 210,728 5.4%
------------------ -------- -------- ------- -------- -------- -------
- Endocrinology 27,331 22,795 19.9% 108,448 87,996 23.2%
------------------ -------- -------- ------- -------- -------- -------
- Neuromuscular
disorders 26,367 24,151 9.2% 113,319 92,478 22.5%
------------------ -------- -------- ------- -------- -------- -------
Sub-total 107,242 98,287 9.1% 443,806 391,202 13.4%
------------------ -------- -------- ------- -------- -------- -------
Primary care
products
------------------ -------- -------- ------- -------- -------- -------
- Gastroenterology 39,075 35,533 10.0% 157,430 141,075 11.6%
------------------ -------- -------- ------- -------- -------- -------
- Cognitive
disorders 34,162 30,015 13.8% 129,882 120,960 7.4%
------------------ -------- -------- ------- -------- -------- -------
- Cardiovascular 22,359 28,438 (21.4)% 99,268 115,619 (14.1)%
------------------ -------- -------- ------- -------- -------- -------
Sub-total 95,596 93,986 1.7% 386,580 377,654 2.4%
------------------ -------- -------- ------- -------- -------- -------
Other therapeutic
areas
------------------ -------- -------- ------- -------- -------- -------
- Other drugs 1,305 1,615 (19.2)% 4,197 7,021 (40.2)%
------------------ -------- -------- ------- -------- -------- -------
Sub-total 1,305 1,615 (19.2)% 4,197 7,021 (40.2)%
------------------ -------- -------- ------- -------- -------- -------
Total drug sales 204,143 193,888 5.3% 834,583 775,877 7.6%
------------------ -------- -------- ------- -------- -------- -------
Drug related sales 6,349 6,336 0.2% 27,093 31,237 (13.3)%
------------------ -------- -------- ------- -------- -------- -------
Group Sales 210,492 200,224 5.1% 861,676 807,114 6.8%
------------------ -------- -------- ------- -------- -------- -------
*T
For the full year 2006, drug sales reached EUR 834.6 million,
representing 96.9% of the Group's consolidated sales (96.1% in 2005),
up 7.6% year-on-year (or 7.5% excluding foreign exchange impacts).
Drug-related sales amounted to EUR 27.1 million in 2006, down 13.3%
year-on-year (12.8% excluding foreign exchange impacts).
Products in targeted therapeutic areas
For the fourth quarter of 2006, sales of products in the Group's
targeted therapeutic areas reached EUR 107.2 million, up 9.1%
year-on-year (fourth quarter 2005, EUR 98.3 million).
For the full year 2006, sales of products in the Group's targeted
therapeutic areas reached EUR 443.8 million, up 13.4% year-on-year
(EUR 391.2 million in 2005), representing 51.5% of the Group's
consolidated sales, against 48.5% a year earlier.
-- In oncology, sales reached EUR 222.0 million, up 5.4%
year-on-year (EUR 210.7 million for 2005) despite negative
administrative measures impacting Decapeptyl(R) prices mainly
in Italy, Poland and Belgium. Volume growth year-on-year
reached 8.6%.
-- In endocrinology, sales reached EUR 108.4 million, up 23.2%
year-on-year (EUR 88.0 million for 2005). This performance was
driven by sales of Somatuline(R), up 12.8% year-on-year, and
the successful performance of NutropinAq(R) in several markets
three years after its first launch, with sales totalling 13.6%
of endocrinology sales at the end of December 2006 against
6.5% a year earlier.
-- In neuromuscular disorders, sales reached EUR 113.3 million in
2006, up 22.5% year-on-year (EUR 92.5 million for 2005) driven
by Dysport(R) sales in the United Kingdom, Eastern and Central
Europe, South Korea and Latin America.
Primary care products
For the fourth quarter of 2006, sales of primary care products
reached EUR 95.6 million, up 1.7% year-on-year (fourth quarter 2005,
EUR 94.0 million).
For the full year 2006, sales of primary care products reached EUR
386.6 million, up 2.4% year-on-year (EUR 377.7 million in 2005),
impacted by the poor performance of the sales of Ginkor Fort(R) in
France. Excluding Ginkor Fort(R), sales of primary care products
reached EUR 344.9 million, up 9.0% year-on-year (EUR 316.5 million in
2005). This growth was fuelled mainly by strong performance of
Nisis(R)/Nisisco(R) in France, and of Tanakan(R) and gastro-enterology
products in China and in Eastern and Central Europe.
-- In gastroenterology, sales reached EUR 157.4 million, up 11.6%
year-on-year (EUR 141.1 million in 2005), driven by sales of
Smecta(R) in France, China, Vietnam, Eastern and Central
Europe, by sales of Forlax(R) in Italy, France and China, and
by sales of Fortrans(R) in Poland and Russia.
-- In the cognitive disorders area, sales reached EUR 129.9
million, up 7.4% year-on-year (EUR 121.0 million in 2005),
sustained by sales growth of Tanakan(R).
-- In the cardiovascular area, sales amounted to EUR 99.3
million, down 14.1% year-on-year (EUR 115.6 million in 2005),
mainly due to the poor performance of Ginkor Fort(R) sales in
France. Sales of this product suffered from the 15% price cut
enforced on 1 February 2006 by the French Government, as well
as from a volume decrease linked to the reduction of its
reimbursement rate by the French Social Security to 15% from
35%, and the decision by some of the private insurance
companies not to continue reimbursement of Ginkor Fort(R).
Sales in the cardiovascular area were also affected in 2006 by
the impact of the first year of the licence agreement signed
with Recordati in 2005, under which the Group granted the
distribution of Tenstaten(R) to Recordati while continuing to
supply the product. Higher volumes sold following the start of
distribution by Recordati partly offset the price decrease of
Tenstaten(R), thus limiting the overall negative impact on
sales to EUR 5.5 million year-on-year, despite a corresponding
negative price impact of EUR 9.0 million. Nisis(R) and
Nisisco(R), with a 22.0% sales growth year-on-year, continued
to show strong performance.
Other therapeutic areas
For the full year 2006, other therapeutic areas generated sales of
EUR 4.2 million, down 40.2% year-on-year (EUR 7.0 million in 2005),
due to the decision of the Group to withdraw from market some
non-strategic products in Eastern Europe.
Drug-related activities
For the full year 2006, drug-related sales (active ingredients and
raw materials) were down 13.3% to EUR 27.1 million, due to lower sales
of active ingredients, mainly the Ginkgo biloba extract (EGb 761(R)).
This activity accounted for 3.1% of the Group's total sales, against
3.9% a year earlier.
Sales by product
Group sales by product for the fourth quarters and full years 2006
and 2005 were as follows:
-0-
*T
4th quarter 12 months
------------------------- -------------------------
(in thousand
euros) 2006 2005 % 2006 2005 %
------------------ -------- -------- ------- -------- -------- -------
- Decapeptyl(R)
(1) 53,521 51,305 4.3% 221,925 210,606 5.4%
------------------ -------- -------- ------- -------- -------- -------
- Tanakan(R) 34,162 30,015 13.8% 129,882 120,960 7.4%
------------------ -------- -------- ------- -------- -------- -------
- Dysport(R) (1) 26,367 24,151 9.2% 113,319 92,478 22.5%
------------------ -------- -------- ------- -------- -------- -------
- Somatuline(R)
(1) 22,423 20,420 9.8% 92,222 81,751 12.8%
------------------ -------- -------- ------- -------- -------- -------
- Smecta(R) 19,054 16,244 17.3% 80,341 67,465 19.1%
------------------ -------- -------- ------- -------- -------- -------
- Ginkor Fort(R) 8,809 14,226 (38.1)% 41,700 61,162 (31.8)%
------------------ -------- -------- ------- -------- -------- -------
- Forlax(R) 11,975 11,183 7.1% 46,303 42,771 8.3%
------------------ -------- -------- ------- -------- -------- -------
- Nisis et
Nisisco(R) 12,030 11,005 9.3% 50,661 41,525 22.0%
------------------ -------- -------- ------- -------- -------- -------
- NutropinAq(R)
(1) 4,428 2,134 107.5% 14,728 5,740 156.6%
------------------ -------- -------- ------- -------- -------- -------
- Other products 11,375 13,207 (13.9)% 43,502 51,419 (15.4)%
------------------ -------- -------- ------- -------- -------- -------
Total drug sales 204,143 193,888 5.3% 834,583 775,877 7.6%
------------------ -------- -------- ------- -------- -------- -------
Drug related sales 6,349 6,336 0.2% 27,093 31,237 (13.3)%
------------------ -------- -------- ------- -------- -------- -------
Group Sales 210,492 200,224 5.1% 861,676 807,114 6.8%
------------------ -------- -------- ------- -------- -------- -------
*T
(1) Peptide- or protein-based products
-- Decapeptyl(R) - For the fourth quarter of 2006, Decapeptyl(R)
sales reached EUR 53.5 million, up 4.3% year-on-year (fourth
quarter 2005, EUR 51.3 million). For the full year 2006, sales
of Decapeptyl(R) reached EUR 221.9 million, up 5.4%
year-on-year (EUR 210.6 million in 2005). Negative price
movements reduced sales by 3.2 points but were more than
offset by strong volume growth in Germany, the United Kingdom,
Ireland, Greece and China as well as in Eastern and Central
Europe.
-- Tanakan(R) - For the fourth quarter of 2006, Tanakan(R) sales
reached EUR 34.2 million, up 13.8% year-on-year (fourth
quarter 2005, EUR 30.0 million). For the full year 2006, sales
of Tanakan(R) reached EUR 129.9 million, up 7.4% year-on-year
(EUR 121.0 million in 2005), notably driven by sales in China
and in Central and Eastern Europe. France accounted for 70.8%
of total Tanakan(R) sales in 2006 compared with 73.2% a year
earlier.
-- Dysport(R) - For the fourth quarter of 2006, Dysport(R) sales
reached EUR 26.4 million, up 9.2% year-on-year (fourth quarter
2005, EUR 24.2 million) reflecting a more normalised level of
sales after three strong quarters. For the full year 2006,
sales reached EUR 113.3 million, up 22.5% year-on-year (EUR
92.5 million in 2005). This growth was especially fuelled by
double digit growth in Latin America, Central and Eastern
Europe, South Korea, the United Kingdom and in most other
markets.
-- Somatuline(R) - For the fourth quarter of 2006, Somatuline(R)
sales reached EUR 22.4 million, up 9.8% year-on-year (fourth
quarter 2005, EUR 20.4 million). For the full year 2006, sales
of Somatuline(R) reached EUR 92.2 million, up 12.8%
year-on-year (EUR 81.8 million in 2005), driven mainly by
France, Spain, Germany, Scandinavia and Central and Eastern
Europe.
-- Smecta(R) - For the fourth quarter of 2006, Smecta(R) sales
reached EUR 19.1 million, up 17.3 % year-on-year (fourth
quarter 2005, EUR 16.2 million). For the full year 2006, sales
of Smecta(R) reached EUR 80.3 million, up 19.1% year-on-year,
or 18.7% excluding foreign exchange impacts (EUR 67.5 million
in 2005), due to strong growth in France, China and Central
and Eastern Europe.
-- Ginkor Fort(R) - For the fourth quarter of 2006, Ginkor
Fort(R) sales amounted to EUR 8.8 million, down 38.1%
year-on-year (fourth quarter 2005, EUR 14.2 million). For the
full year 2006, sales of Ginkor Fort(R) - mainly in France -
stood at EUR 41.7 million, down 31.8% year-on-year (EUR 61.2
million in 2005). As explained above, the product suffered
from the decision taken by the French Government to reduce
both its price and its reimbursement rate by the French Social
Security on 1 February 2006.
-- Forlax(R) - For the fourth quarter of 2006, Forlax(R) sales
reached EUR 12.0 million, up 7.1% year-on-year (fourth quarter
2005, EUR 11.2 million). For the full year 2006, sales of
Forlax(R) amounted to EUR 46.3 million, up 8.3% year-on-year
(EUR 42.8 million in 2005) supported by solid growth in China,
France and Italy.
-- Nisis(R) and Nisisco(R) - For the fourth quarter of 2006,
Nisis(R) and Nisisco(R) sales reached EUR 12.0 million, up
9.3% year-on-year (fourth quarter 2005, EUR 11.0 million). For
the full year 2006, sales of Nisis(R) and Nisisco(R) amounted
to EUR 50.7 million, up 22.0% year-on-year (EUR 41.5 million
in 2005). Nisis(R) and Nisisco(R) performed well above the
market despite high competitive pressure.
-- NutropinAq(R) - For the fourth quarter of 2006, NutropinAq(R)
sales reached EUR 4.4 million, more than doubling year-on-year
(fourth quarter 2005, EUR 2.1 million). For the full year
2006, sales of NutropinAq(R) reached EUR 14.7 million (EUR 5.7
million in 2005). As expected, this product is highly
contributing to the Group's growth in its third year of
commercialisation.
-- Testim(R) - After launches in Germany, the United Kingdom,
Benelux, Scandinavia and Spain in 2005 and in Portugal, Italy
and Greece in 2006, sales of Testim(R) remain below Group
expectations, with slower overall market growth and lower than
expected market penetration of gels in the territories where
it is marketed. Furthermore, difficulties in obtaining
reimbursement status in certain major European countries, such
as Italy, have impacted sales development.
-- With sales of Decapeptyl(R), Dysport(R), Somatuline(R) and
NutropinAq(R), Ipsen's peptide- or protein-based products
sales reached EUR 442.2 million in 2006, representing 51.3% of
Group consolidated sales, up 13.2% year-on-year (in 2005,
sales stood at EUR 390.6 million, representing 48.4% of the
Group's consolidated sales).
Sales by geographical region
Group sales by geographical region for the fourth quarters and
full years 2006 and 2005 were as follows:
-0-
*T
4th quarter 12 months
------------------------ ------------------------
(in thousand euros) 2006 2005 % 2006 2005 %
-------------------- -------- -------- ------ -------- -------- ------
- France 92,648 92,935 (0.3)% 358,666 360,908 (0.6)%
-------------------- -------- -------- ------ -------- -------- ------
- Spain 13,683 12,956 5.6% 53,099 52,005 2.1%
-------------------- -------- -------- ------ -------- -------- ------
- Italy 15,285 15,423 (0.9)% 66,414 65,980 0.7%
-------------------- -------- -------- ------ -------- -------- ------
- Germany 9,513 8,630 10.2% 40,279 39,462 2.1%
-------------------- -------- -------- ------ -------- -------- ------
- United Kingdom 8,751 7,805 12.1% 33,216 28,932 14.8%
-------------------- -------- -------- ------ -------- -------- ------
Major Western
European countries 139,880 137,749 1.5% 551,674 547,287 0.8%
-------------------- -------- -------- ------ -------- -------- ------
Other European
countries 43,696 37,796 15.6% 184,800 155,893 18.5%
-------------------- -------- -------- ------ -------- -------- ------
- Asia 13,116 10,565 24.1% 67,184 52,087 29.0%
-------------------- -------- -------- ------ -------- -------- ------
- North America 99 0.0% 99 0.0%
-------------------- -------- -------- ------ -------- -------- ------
- Other countries in
the rest of the
world 13,701 14,114 (2.9)% 57,919 51,847 11.7%
-------------------- -------- -------- ------ -------- -------- ------
Rest of the world 26,916 24,679 9.1% 125,202 103,934 20.5%
-------------------- -------- -------- ------ -------- -------- ------
Group Sales 210,492 200,224 5.1% 861,676 807,114 6.8%
-------------------- -------- -------- ------ -------- -------- ------
*T
-- For the fourth quarter of 2006, sales generated in Major
Western European countries amounted to EUR 139.9 million, up
1.5% year-on-year (fourth quarter of 2005, EUR 137.7 million).
For the full year 2006, sales in Major Western European
Countries reached EUR 551.7 million, up 0.8% year-on-year (EUR
547.3 million in 2005). The growth in volume (up EUR 21.5
million, or +3.9%) mainly stemmed from the United Kindgom,
Italy, Spain and France but was penalized by negative price
impacts in Italy, Spain and France totalling EUR 17.2 million.
In France, negative price effects were mostly due to the
impact of the first year of the Tenstaten(R) licence agreement
granted to Recordati as described above, and to the Ginkor
Fort(R) price reduction. In Germany, the strong 18.4% growth
in drug sales year-on-year was almost offset by the 23.0%
decline in drug-related sales.
-- In Other European countries, sales for the fourth quarter of
2006 reached EUR 43.7 million, up 15.6% year-on-year (fourth
quarter 2005, EUR 37.8 million). For the full year 2006, sales
reached EUR 184.8 million, up 18.5% year-on-year (EUR 155.9
million in 2005). Other European countries confirmed their
good performance (Central and Eastern Europe, Belgium, Greece,
Scandinavia) despite negative price impacts in Poland,
Romania, Belgium and Lithuania.
-- In the Rest of the World, sales for the fourth quarter of 2006
reached EUR 26.9 million, up 9.1% year-on-year (fourth quarter
2005, EUR 24.7 million), indicating a slow down in sales in
South America, notably in Brazil. For the full year 2006,
sales reached EUR 125.2 million, up 20.5% year-on-year (EUR
103.9 million in 2005), driven by sales in China, Latin
America, South Korea and Australia.
Share Buyback Programme
Following the decision made by Ipsen's Board of Directors on
December 12, 2006 to put in place a stock options programme totalling
899,500 shares, of which 533,334 are stock options, and following the
relevant authorisation granted by Ipsen's General Assembly on June 2,
2006, the Board of Directors decided on January 25, 2007, in order to
cover these stock options, to allocate up to EUR 21 million to Ipsen'
share buyback programme, which was implemented on June 2, 2006.
Furthermore, on 16 January 2006, the Company had already allocated EUR
2.5 million to this programme in the framework of its liquidity
contract.
(1) The figures for 2005 are stated on a pro forma basis. The pro
forma consolidated statements present the Group's activity as if the
legal reorganisation of the Group completed in June 2005 had taken
place on 1 January 2002.
(2) Sales of active ingredients and raw materials.
(3) In France;, reduction of its reimbursement rate from 35% to
15% as well as a 15% price reduction on the entire veinotonic class
drugs.
(4) The figures for 2005 are stated on a pro forma basis. The pro
forma consolidated statements present the Group's activity as if the
legal reorganisation of the Group completed in June 2005 had taken
place on 1 January 2002.
(5) Active ingredients and raw materials
--30--DC/ps*
CONTACT: Didier Veron,
Director, Public Affairs and Corporate Communications
Tel.: +33 (0)1 44 30 42 38 - Fax: +33 (0)1 44 30 42 04
E-mail: didier.veron@ipsen.com
or
David Schilansky,
Investor Relations Officer
Tel.: +33 (0)1 44 30 43 31 - Fax: +33 (0)1 44 30 43 21
E-mail: david.schilansky@ipsen.com