Ipsen: Strong start to the year drives FY guidance upgradeBUY, Fair Value EUR52 vs. EUR46.5 (+9%)
Ipsen posted today very strong first quarter sales, driven by Speciality Care including Somatuline, up 25%. Revenue growth guidance for Speciality Care is upgraded for the year to 10-12% (from 8-10%) and the core operating margin for the group too, from 19-20% to 21-22% (50% for TasQ and 50% for underlying business). Our sequence of core EPSs is revised upwards and our FV increased.
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