Ipsen's Narrow Moat Supported by Strong Intangible Assets; Dysport and Cabometyx Drive Growth

Ipsen is a global biotechnology company headquartered in France that develops and commercializes medicines across three therapeutic areas: oncology, neuroscience, and rare diseases. Ipsen was founded in 1929 as a consumer healthcare company focused on prescription-based products for digestive disorders and neurological disorders. The company has a global footprint and sells more than 25 drugs in 115 countries, and it has a direct commercial presence in 34 countries. Over the past nearly 100 years, the company has shifted its focus to specialty care products and away from its legacy consumer healthcare segment.