Regulatory News:
Ipsen (Euronext: IPN; ADR: IPSEY) announces the publication of the resolutions proposed by its Board of Directors to its next Shareholders’ Meeting to be held on June 7, 2017 at 3:00 pm at the Maison des Arts et Métiers in Paris in the Bulletin des annonces légales obligatoires.
In addition to the dividend approval (€0.85 per share), shareholders will be asked to approve the following main resolutions:
-
Nominations of Dr. Margaret Liu and Ms. Carol Stuckley as independent
Directors. They would bring to the Board of Directors diverse
international experiences and solid scientific and business
backgrounds.
- Dr. Margaret Liu is a worldwide distinguished scientist who consults in global health and teaches at the University of California, San Francisco (UCSF) and the Karolinska Institute. She is a graduate of Harvard Medical School and is renowned for her scientific contributions in the field of vaccines and cancer immunotherapies.
- Carol Stuckley is an experienced Chief Financial Officer who has worked extensively in the pharmaceutical industry. She holds an MBA in International Business & Finance and an MA in Economics from Temple University in Philadelphia.
- Nomination of Mr. David Meek, Chief Executive Officer of the Company, as Director.
- Renewal of Mr. Antoine Flochel, Vice-Chairman of the Board of Directors, as Director.
Biographies of Dr. Margaret Liu and Ms. Carol Stuckley
Margaret Liu, in her role as Principal of ProTherImmune since 2002, consults in the fields of global health, vaccines and immunotherapy for pharma/biotech and investment companies, universities, and governmental scientific research councils. Since 2003, she has also served as Professor at Karolinska Institute in Stockholm, Sweden, first as Visiting Professor and then as Foreign Adjunct Professor. She has also served as Adjunct Full Professor at the University of California in San Francisco, CA since 2013 and President for the International Society for Vaccines since 2016. Before that, she served various functions in the private and public sector parallel to her academic career. She earned her B.A. in Chemistry, summa cum laude, from Colorado College and an M.D. from Harvard Medical School.
Carol Stuckley is the Chief Financial Officer and Senior Vice President of Healthcare Payment Specialists, LLC in Fort Worth, TX. From 2010 to 2013, she was Vice President, Finance (Chief Financial Officer), North America at Galderma Laboratories, L.P., in Fort Worth, TX. Prior to Galderma, Carol had a 23 year career at Pfizer, Inc., New York, NY, where she held several multinational, senior financial leadership roles including Assistant Treasurer, Corporate Officer and Vice President of Finance. She holds an MBA in International Business & Finance and an MA in Economics from Temple University (Fox Business School) in Philadelphia, PA as well as a BA in Economics and French from the University of Delaware in Newark, DE.
About Ipsen
Ipsen is a global specialty-driven
pharmaceutical group with total sales close to €1.6 billion in 2016.
Ipsen sells more than 20 drugs in more than 115 countries, with a direct
commercial presence in more than 30 countries. Ipsen’s ambition is to
become a leader in specialty healthcare solutions for targeted
debilitating diseases. Its fields of expertise cover oncology,
neurosciences and endocrinology (adult & pediatric). Ipsen’s commitment
to oncology is exemplified through its growing portfolio of key
therapies improving the care of patients suffering from prostate cancer,
neuro-endocrine tumors, renal cell carcinoma and pancreatic cancer.
Ipsen also has a significant presence in primary care. Moreover, the
Group has an active policy of partnerships. Ipsen's R&D is focused on
its innovative and differentiated technological platforms, peptides and
toxins, located in the heart of the leading biotechnological and life
sciences hubs (Les Ulis/Paris-Saclay, France; Slough/Oxford, UK;
Cambridge, US). In 2016, R&D expenditures exceeded €200 million. The
Group has more than 4,900 employees worldwide. Ipsen’s shares are traded
on segment A of Euronext Paris (stock code: IPN, ISIN code:
FR0010259150) and are eligible to the “Service de Règlement Différé”
(“SRD”). The Group is part of the SBF 120 index. Ipsen has implemented a
Sponsored Level I American Depositary Receipt (ADR) program, which
trades on the over-the-counter market in the United States under the
symbol IPSEY. For more information on Ipsen, visit www.ipsen.com.
Forward Looking Statement
The forward-looking statements,
objectives and targets contained herein are based on the Group’s
management strategy, current views and assumptions. Such statements
involve known and unknown risks and uncertainties that may cause actual
results, performance or events to differ materially from those
anticipated herein. All of the above risks could affect the Group’s
future ability to achieve its financial targets, which were set assuming
reasonable macroeconomic conditions based on the information available
today. Use of the words "believes," "anticipates" and "expects" and
similar expressions are intended to identify forward-looking statements,
including the Group’s expectations regarding future events, including
regulatory filings and determinations. Moreover, the targets described
in this document were prepared without taking into account external
growth assumptions and potential future acquisitions, which may alter
these parameters. These objectives are based on data and assumptions
regarded as reasonable by the Group. These targets depend on conditions
or facts likely to happen in the future, and not exclusively on
historical data. Actual results may depart significantly from these
targets given the occurrence of certain risks and uncertainties, notably
the fact that a promising product in early development phase or clinical
trial may end up never being launched on the market or reaching its
commercial targets, notably for regulatory or competition reasons. The
Group must face or might face competition from generic products that
might translate into a loss of market share. Furthermore, the Research
and Development process involves several stages each of which involves
the substantial risk that the Group may fail to achieve its objectives
and be forced to abandon its efforts with regards to a product in which
it has invested significant sums. Therefore, the Group cannot be certain
that favorable results obtained during pre-clinical trials will be
confirmed subsequently during clinical trials, or that the results of
clinical trials will be sufficient to demonstrate the safe and effective
nature of the product concerned. There can be no guarantees a product
will receive the necessary regulatory approvals or that the product will
prove to be commercially successful. If underlying assumptions prove
inaccurate or risks or uncertainties materialize, actual results may
differ materially from those set forth in the forward-looking
statements. Other risks and uncertainties include but are not limited
to, general industry conditions and competition; general economic
factors, including interest rate and currency exchange rate
fluctuations; the impact of pharmaceutical industry regulation and
health care legislation; global trends toward health care cost
containment; technological advances, new products and patents attained
by competitors; challenges inherent in new product development,
including obtaining regulatory approval; the Group's ability to
accurately predict future market conditions; manufacturing difficulties
or delays; financial instability of international economies and
sovereign risk; dependence on the effectiveness of the Group’s patents
and other protections for innovative products; and the exposure to
litigation, including patent litigation, and/or regulatory actions. The
Group also depends on third parties to develop and market some of its
products which could potentially generate substantial royalties; these
partners could behave in such ways which could cause damage to the
Group’s activities and financial results. The Group cannot be certain
that its partners will fulfil their obligations. It might be unable to
obtain any benefit from those agreements. A default by any of the
Group’s partners could generate lower revenues than expected. Such
situations could have a negative impact on the Group’s business,
financial position or performance. The Group expressly disclaims any
obligation or undertaking to update or revise any forward looking
statements, targets or estimates contained in this press release to
reflect any change in events, conditions, assumptions or circumstances
on which any such statements are based, unless so required by applicable
law. The Group’s business is subject to the risk factors outlined in its
registration documents filed with the French Autorité des Marchés
Financiers. The risks and uncertainties set out are not exhaustive and
the reader is advised to refer to the Group’s 2016 Registration Document
available on its website (www.ipsen.com).
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Contacts:
Media
Didier Véron, Tel.: +33 (0)1
58 33 51 16
Senior Vice-President, Public Affairs and Communication
E-mail:
didier.veron@ipsen.com
or
Brigitte
Le Guennec, Tel.: +33 (0)1 58 33 51 17
Corporate External
Communication Manager
E-mail : brigitte.le.guennec@ipsen.com
or
Financial
Community
Eugenia Litz, Tel.: +44 (0) 1753 627721
Vice-President,
Investor Relations
E-mail: eugenia.litz@ipsen.com
or
Côme
de La Tour du Pin, Tel.: +33 (0)1 58 33 53 31
Investor
Relations Manager
E-mail: come.de.la.tour.du.pin@ipsen.com