UBS cuts Ipsen to 'neutral' as Cabometyx patent cliff looms

Ipsen SA

08/01/2026 11:46

** UBS downgrades French drugmaker Ipsen IPN.PA to "neutral" from "buy", cuts PT by 16% to 125 euros

** Says Cabometyx, one of Ipsen's key drugs, faces patent cliff in 2029, which might erode group sales

** Warns of limited scope from late-stage pipeline to offset revenue loss from Cabometyx patent expiry

** Says M&A track record of IPN shows mixed results, adding uncertainty around offsetting impact of patent expiry

** 5 of 14 analysts rate stock "strong buy" or "buy", ​7 "hold" and 2 "strong sell" or "sell" - LSEG data

(Reporting by Lucie Barbier)

((Email: lucie.barbier@thomsonreuters.com))