Healthcare Industry News: Somatuline
News Release - August 30, 2011
Appointments to Ipsen’s Executive Committee: Nathalie Joannes is nominated Executive Vice President, General Counsel and Susheel Surpal is nominated Executive Vice President, Chief Financial OfficerPARIS--(Healthcare Sales & Marketing Network)-- Ipsen (Euronext : IPN ; ADR : IPSEY) today announced the appointment of two new members to the Group’s Executive Committee: Nathalie Joannes, as Executive Vice President, General Counsel, effective 1st of October 2011 and Susheel Surpal as Executive Vice President, Chief Financial Officer, effective in the weeks to come. With these two nominations, all the positions in the Group's Executive Committee have now been filled.
Nathalie Joannes, a Belgian national, is a member of the New York Bar, and a graduate from the University of Pennsylvania Law School (Philadelphia - 1985) and the University of Liege (Belgium – 1984). Since 2008, she served as Senior Vice President and Chief European Counsel at Genzyme B.V. (Amsterdam). Nathalie Joannes worked at Monsanto Company (St Louis, USA and Brussels, Belgium) from 1989 to 2001, notably as Assistant General Counsel in the United States. In 2001, Nathalie Joannes joined Serono International as Group General Counsel, then Cardinal Health International (Switzerland) in 2007 where she served as General Counsel, International.
Susheel Surpal, a British national, is a graduate from the Queen’s University of Belfast (Ireland) and fellow of the Institute of Chartered Management Accountants (FCMA – London). Since 2009, Susheel Surpal was member of the Executive Committee and Financial Director of LABCO (European leader of medical diagnostics). Throughout his career, Susheel Surpal served mainly as Financial Director, from 1985 to 1994 at EDS, then at Sodexo as European Financial Director, before his appointment as Corporate Controller (1999-2000), then Corporate Controller and Senior Vice President at the BIC group. In 2003, Susheel Surpal joined the BEL group as Corporate Financial Director.
Ipsen is a global specialty-driven pharmaceutical company with total sales exceeding €1.1 billion in 2010. Ipsen’s ambition is to become a leader in specialty healthcare solutions for targeted debilitating diseases. Its development strategy is supported by four franchises: neurology / Dysport®, endocrinology / Somatuline®, uro-oncology / Decapeptyl® and hemophilia. Moreover, the Group has an active policy of partnerships. R&D is focused on innovative and differentiated technological patient-driven platforms, peptides and toxins. In 2010, R&D expenditure totaled more than €220 million, above 20% of Group sales. The Group has total worldwide staff of close to 4,500 employees. Ipsen’s shares are traded on segment A of Euronext Paris (stock code: IPN, ISIN code: FR0010259150) and 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 trade on the over-the-counter market in the United States under the symbol IPSEY. For more information on Ipsen, visit www.ipsen.com.
Ipsen’s 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. 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 Generics that might translate into loose of market shares. Furthermore, the Research and Development process involves several stages each of which involve 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 favourable 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. 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 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.
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