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European Price Cuts, Restructuring Charges, Hit France's Ipsen in 2011

 
• By John Davis

Ipsen's restructuring in France and the U.S, and European austerity measures, lead to a series of charges against 2011 profits, but drug sales increase 5% in the year.

France's mid-sized biopharma company Ipsen recorded a sharp drop in 2011 net profits to €0.9 million ($1.2 million) as it booked charges relating to the ongoing restructuring of its business and increasing pricing pressure on its drug sales in France and other European markets.

Despite reporting a 5.7% increase in drug sales to €1.13 billion in 2011, and adjusted operating profits up by 9.6% to €200.7 million, slightly above previous guidance, the company remains...

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