Blow To Ipsen As FerGene Nabs CEO Meek
Bad Timing For French Firm
The new Ferring-backed gene therapy company has bagged a big name player in David Meek as its CEO but the move has created a void at the top for France's Ipsen.
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Sales grew 9.6% at Ipsen in the first quarter, and the search for a new CEO is on track, but France’s specialty pharmaceutical company maintained its 2020 guidance suspension because of the uncertainty over the course of the COVID-19 pandemic.
The French drugmaker's current product portfolio is performing well but a €669m charge relating to the failure of palovarotene for the rare bone disease FOP blighted Ipsen's financials.
FerGene bladder cancer therapy achieved a complete response in more than half of patients in its pivotal trial. The joint venture now looks to commercialization and potential expansion of indications.