Ipsen reports encouraging third quarter growth

Ipsen has published its financial report for the third quarter of 2010, during which the company experienced a year-on-year increase in sales.

The pharmaceutical group's sales for the three-month period came to 288.2 million euros (179.4 million pounds), up by 12.4 percent compared to Q3 2009, with both speciality care and primary care takings rising.

Reviewing the company's performance, chairman and chief executive officer (CEO) Jean-Luc Belingard noted the significant expansion seen in its neurology and endocrinology divisions since 2002, as well as its growing presence outside of Europe.

He also expressed confidence that incoming chairman and CEO Marc de Garidel will be able to secure the firm's long-term success.

"Owing to its proprietary technologies in peptides and protein engineering and toxin knowledge, Ipsen qualifies as one of the most promising biopharmaceutical companies," added Mr Belingard.

Last month, the company sold off its shares in reproductive medicine specialist PregLem as it looks to increase its focus on key therapy areas.