Ipsen posts strong earnings growth for first-half 2014

French drugmaker Ipsen (Euronext: IPN) has reported first half 2014 sales of 638.7 million euros ($845.1 million), up 3.6% year-on-year along with strong earnings growth, pushing the firm’s shares up 5.6% to 35.56 euros in early morning trading.

Core operating income in the first half 2014 amounted to 162.0 million euros, or 25.4% of sales, compared with 144.0 million euros, or 22.7% of sales, for the same period in 2013. Core operating income grew 12.5% year-on-year. Core earnings per share leapt 18.6% to 1.40 euros.

Operating income amounted to 146.3 million euros for the first half 2014, or 22.9% of sales, up 9.9% year-on-year. At June 30, 2013, operating income amounted to 21.0% of sales, notably affected by impairment losses on Increlex(IGF-1; mecasermin).