Healthcare Industry News: Ipsen
News Release - February 26, 2007
Ipsen: Appointment of Stephane Thiroloix as Executive Vice-President, Corporate DevelopmentPARIS--(HSMN NewsFeed)--Ipsen (Euronext: FR0010259150; IPN) today announced the appointment with effect from 2 April 2007, of Stephane Thiroloix as Executive Vice-President, Corporate Development and member of Ipsen's Executive Committee. This appointment is within the context of the retirement of Dr Alistair Stokes.
The scope of Stephane Thiroloix's responsibilities will cover pharmaceutical development, clinical development, regulatory affairs, business development and legal affairs.
The recent evolution of the pharma-industry, especially its slowing growth and the declining productivity of R&D efforts made necessary the adoption of a new operational model of Group general management.
This new structure will aim to better distinguish research and discovery from development, thus focusing even more sharply on both of these functions, which lie at the core of Ipsen's strategy. It was therefore decided, in addition to the activities dedicated to innovation and led by Dr Jacques-Pierre Moreau, Executive Vice-President, Research and Chief Scientific Officer, to create a Corporate Development unit of broader scope, as described above and placed under Stephane Thiroloix's management.
He will thus be responsible to bring to market, on a global scale, a consistent and competitive portfolio of products originating both from internal research efforts as well as from the pursuit of external business development opportunities.
In particular, this new operational model will allow to ensure that Ipsen's high quality research is translated into a continuous flow of new medicines bringing real clinical and medical benefits to patient care.
M. Thiroloix graduated from the Ecole des Hautes Etudes Commerciales (HEC). After joining Roussel-Uclaf (which became Hoechst Marion Roussel and now sanofi-aventis) in 1987, he held various executive positions at a Corporate Level, in France, in South Africa, in Mexico and in Australia, where he was General Manager. He later became Vice-President and Sales Director at SmithKline Beecham (now GlaxoSmithKline), then Vice-President and Director of French Operations and ultimately Vice-President and Director, European Business Development and Marketing Alliances. He joined Bristol-Myers Squibb in September 2002 as Vice-President, French Operations, and was promoted Vice-President Europe and General Manager, France in January 2004.
Ipsen is a European pharmaceutical group with over 20 products on the market and a total worldwide staff of nearly 4,000. The company's development strategy is based on a combination of products in targeted therapeutic areas (oncology, endocrinology and neuromuscular disorders), which are growth drivers and primary care products which contribute significantly to its research financing. This strategy is also supported by an active policy of partnerships. The location of its four R&D centres (Paris, Boston, Barcelona and London) gives the Group a competitive edge in gaining access to leading university research teams and highly qualified personnel. In 2005, Research and Development expenditure reached EUR 169 million, i.e. 20.9% of consolidated sales, which amounted to EUR 807 million in the Group's pro forma accounts set up according to the IFRS. Nearly 700 people in R&D are dedicated to the discovery and development of innovative drugs for patient care. Ipsen's shares are traded on Segment A of Eurolist by Euronext (stock code: IPN, ISIN code: FR0010259150). Ipsen's internet website is www.Ipsen.com
The forward-looking statements and targets contained herein are based on Ipsen's management's 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.
Ipsen 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. Ipsen's business is subject to the risk factors outlined in its information documents filed with the French Autorite des marches financiers.
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