Ipsen's full-year 2007 sales beat expectations

Ipsen reported 2007 income figures ahead of expectations despite price pressure in European Union markets. The French drugmaker saw full-year sales of 920.5 million euros ($1.33 billion), an increase of 6.8% on the previous year. Analysts at Lehman Brothers expected 918.0 million euros versus a consensus estimate of 919.0 million euros.

According to the Paris-headquartered company, the rise was fuelled by the strong growth in endocrinology and neuromuscular disorders franchises, up 19.7% and 13.6% respectively, over the period and by the strong performance of gastroenterology products in international markets, up 9.2% year-on-year. This was partly offset by slower sales in France, notably of Tanakan (ginko biloba), a product launched in 1975 for the memory problems in older people, and Ginkor Fort, a gingko biloba-based product. Both agents suffered from volume decreases as well as price cuts, respectively, enforced in July.