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Ipsen Surges After Drugmaker Raises Forecast, Appoints New Finance Chief



8/30/2011 7:24:32 AM

Ipsen SA (IPN) rose the most in five years in Paris trading after reporting a 22 percent increase in profit, raising a sales forecast and appointing a finance chief. Net income climbed to 91.7 million euros ($133 million) in the six months ended June 30 from 75.5 million euros a year earlier, the French drugmaker said in a statement today. That beat the average analyst estimate of 78.7 million euros. Ipsen named Susheel Surpal, a former executive at Sodexho Inc. and Bic SA, as chief financial officer to replace Claire Giraut, who announced her departure in May. The company, based in Boulogne Billancourt, predicted that full-year sales of primary care products would drop by 3 percent to 5 percent, less than the 8 percent to 10 percent decline forecast in June.

Read at Bloomberg


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