Ipsen SA
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| LOCK|ZR | LOCK|jD>C | LOCK|t!KF>! |
Ipsen Earnings: Growth Platforms Drive Sales; Helping Offset Generic Erosion of Somatuline
Narrow-moat Ipsen delivered solid end-2024 results with product sales growing 8.7% over 2023. Ipsen’s growth platforms of Dysport, Cabometyx, Onivyde, Bylvay, and Iqirvo are continuing to drive sales for the company and helping offset the hit from the generic erosion of Ipsen’s key oncology drug, Somatuline. Dysport has seen strong demand globally in therapeutic and aesthetic indications, accounting for 20% of total product sales in the year. Ipsen is tracking our expectations and we maintain our fair value estimate of EUR 120 per share. We view shares as fairly valued.
