Q2 sales were in line, led by sustained growth momentum in the oncology franchise. While the entry of a generic is a threat for Somatuline, the impact is likely to be minimal in FY19. With all other drugs performing well, management has upgraded the sales guidance for the year by 100bp. Profits were shy of expectations in H1 due to higher investments into R&D and, as these expenses are set to continue, we foresee margin pressure in H2 (vs. H1).
26 Jul 2019
Sales in line, while profitability misses the bus
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Sales in line, while profitability misses the bus
Ipsen SA (IPN:WBO) | 0 0 5.0% | Mkt Cap: 10,144m
- Published:
26 Jul 2019 -
Author:
Sumit Sayal -
Pages:
3
Q2 sales were in line, led by sustained growth momentum in the oncology franchise. While the entry of a generic is a threat for Somatuline, the impact is likely to be minimal in FY19. With all other drugs performing well, management has upgraded the sales guidance for the year by 100bp. Profits were shy of expectations in H1 due to higher investments into R&D and, as these expenses are set to continue, we foresee margin pressure in H2 (vs. H1).