Citi has confirmed its Buy rating on Ipsen SA (IPN: FP) (OTC: IPSEF) with a consistent price target of EUR135.00.
The endorsement follows a recent event where Ipsen's CFO Aymeric Le Chatelier discussed the company's strategy and product pipeline with investors.
During the 2024 European Pharma Bus Trip, the CFO addressed the upcoming launch of Iqirvo (elafibranor), indicating that Ipsen does not expect a significant immediate impact from the FDA Advisory Committee's negative vote on Ocaliva, a competing drug.
This outcome was already factored into Ipsen's strategy, which focuses on market growth alongside Gilead (NASDAQ:GILD), rather than patient switching.
Le Chatelier also highlighted the potential of Ipsen's long-acting neurotoxin, IPN10200, which is being considered for both aesthetic and therapeutic uses.
The company aims to explore therapeutic indications not previously investigated with Dysport, such as migraine, and may challenge Botox's market share due to IPN10200's longer treatment duration.
Ipsen is currently finalizing the phase 2 dose-finding trial for this asset, which is not yet reflected in the market consensus.
The CFO's commentary underscores Ipsen's commitment to advancing its portfolio and capturing new market opportunities.
The company's strategic focus remains on developing and differentiating its offerings in the competitive pharmaceutical landscape.
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