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Investing.com -- Ipsen SA shares climbed more than 6% on Wednesday after the French biopharmaceutical company lifted its 2025 outlook and posted third-quarter sales that beat forecasts, driven by continued strong demand for its hormone therapy Somatuline.
Third-quarter product sales totaled €915 million, coming in 3% ahead of consensus and 2% above Jefferies’ estimate.
Analysts at Jefferies said the performance was “largely driven by strong Somatuline, reflecting the continued benefit of generic-lanreotide shortages and supply constraints in the US and EU.”
Somatuline brought in €279.1 million for the quarter, beating Jefferies’ projection by 9% and consensus by 7%.
Cabometyx, Bylvay, and Iqirvo also exceeded expectations. Cabometyx recorded €155.3 million in revenue, 2% above Jefferies’ forecast and 3% ahead of consensus.
Iqirvo sales were €48.6 million, 12% higher than Jefferies’ estimate and 8% above consensus, while Bylvay posted €48 million, up 4% on consensus despite a 5% shortfall to Jefferies’ model.
Offsetting gains from oncology and rare disease drugs, Dysport underperformed with €187 million in sales, 4% below Jefferies’ forecast and 2% under consensus.
The brokerage cited shipment phasing issues in Europe and Brazil that affected both the Aesthetics and Therapeutics segments.
Onivyde and Tazverik also missed expectations, falling 4% and 5% below Jefferies’ estimates, respectively.
Ipsen raised its full-year guidance after the stronger quarter. The company now expects total sales growth of around 10% at constant exchange rates, up from its previous forecast of more than 7%.
That implies full-year sales of about €3.63 billion, compared with Jefferies’ estimate of €3.65 billion and consensus of €3.62 billion.
Core operating margin guidance was lifted to around 35%, up from more than 32%, versus Jefferies’ 32.2% and consensus 32.3%. Jefferies said consensus estimates are “below the upgraded Core EBIT for potential c.8.5% upgrades.”
Ipsen also announced an agreement to acquire French biotechnology firm ImCheck Therapeutics. The deal includes a €350 million upfront payment and milestone payments of up to €1 billion.
ImCheck’s lead program, ICT01, is a first-in-class anti-BTN3A therapy being developed for first-line unfit acute myeloid leukemia. Ipsen plans to launch a Phase IIb/III study in 2026 following encouraging data presented at ASCO 2025.
Jefferies said interim EVICTION study results showed that ICT01 combined with venetoclax and azacitidine “achieved treatment responses of nearly double relative to those seen in historical standard of care (Ven-Aza) data.” The deal is expected to close by the end of the first quarter of 2026.
Ipsen’s long-acting neurotoxin program also advanced, with Phase II data supporting a move into Phase III trials for glabellar lines. The company expects arbitration findings related to its partnership with Galderma by year-end.