Ipsen drops on H1 results, as guidance hike already anticipated

Ipsen SA

25/07/2024 11:56

** Shares in Ipsen drop 6.8% after the French biopharma
company announced H1 results
    ** "We expect shares to underperform," says Barclays, adding
investors will focus on Sonatuline erosion risk and M&A.
    ** Broker notes disappointing miss from key growth driver
Dysport    
    ** Company also raised guidance to >7% CER growth, but this
had already been anticipated by consensus, adds analyst
    ** Ipsen additionally announced exclusive ex-U.S. licensing
agreement with Day One to commercialize Tovorafenib for the most
common childhood brain tumor 
    ** "The latest M&A deal, while positive, is unlikely to
significantly alter Ipsen's growth outlook," says Barclays
analyst Charles Pitman-King
    ** Share on track for worst day since  April 27, 2022 

 (Reporting by Dimitri Rhodes)
 ((Dimitri.Rhodes@thomsonreuters.com;))