By Adria CalatayudIpsen shares fell after the French pharmaceutical company forecast lower profitability this year as it expects extra research-and-development spending. At 0918 GMT on Thursday, Ipsen shares traded 3.9% lower at EUR102.90, having earlier fallen as low as EUR101.10, taking their year-to-date loss to 4.5%. The company said it expects total sales growth greater than 6% this year at constant currency and a core operating margin of 30%, reflecting additional expenses from anticipated early and mid-stage external-innovation opportunities. For 2023, Ipsen's sales grew 6.7% at constant currency and its core operating margin contracted to 32% from 36.9%. Analysts at Jefferies said Ipsen's outlook could trigger cuts to consensus expectations.

Source: Wall Street Journal February 08, 2024 12:22 UTC