Ipsen Q3 Sales Increase; Lifts FY24 Outlook - Quick Facts

(RTTNews) - French specialty-care biopharmaceutical company Ipsen (IPSEY) reported Wednesday that its third-quarter total sales grew 8.3 percent to 836.6 million euros from last year's 772.4 million euros. On a constant currency basis, sales grew 8.6 percent.

Oncology sales were 604 million euros, up 5.1 percent from last year. Neuroscience sales grew 10.4 percent to 181.9 million euros, and Rare Disease sales went up 53.1 percent to 50.8 million euros.

Looking ahead, the company now expects total-sales growth greater than 8.0 percent at CER, compared to prior guidance of greater than 7.0 percent at CER. Core operating margin is now projected to be greater than 31.0 percent of total sales, while previous guidance was greater than 30 percent.

Total-sales growth in the year to date was 8.1 percent as reported, with notable performances from Dysport (abobotulinumtoxinA), Cabometyx (cabozantinib) and Bylvay (odevixibat), among others.