Christel Bories Joins Ipsen (IPN.PA) as Deputy CEO
PARIS--(BUSINESS WIRE)-- Regulatory News: Ipsen's Board of Directors (Euronext: IPN; ADR: IPSEY) (IPN.PA), which met on 26 February 2013, appointed Christel Bories as Deputy Chief Executive Officer. This appointment will be effective as of 1 March 2013. Working alongside Marc de Garidel, Chairman and Chief Executive Officer, Christel Bories will be responsible for accelerating the execution of the Group's strategy.
Marc de Garidel, Chairman and CEO, stated: "I am looking forward to Christel Bories joining Ipsen by my side. She will provide a new perspective on our activities and the Group will benefit from her extensive experience both in France and internationally. In her various positions, Christel demonstrated strong know-how and proven effectiveness in operational management. Christel shares our values and her expertise will be valuable to accelerate Ipsen's development."
Commenting on her nomination, Christel Bories said: "I am delighted to be joining the Ipsen group at a key phase of its development. Its reputation for excellence, the quality of its teams and the potential of its drugs make it one of the most attractive pharmaceutical companies on the market. I will bring my industrial and change management experience to service the Group's strategic ambitions. It is a very inspiring new challenge."
A graduate of top French business school HEC, Christel Bories spent most of her career in the industrial sector, where she gained solid experience in global renowned groups. From 1995 to 2003 at Pechiney, she was Director of Strategy and Management Control, prior to becoming Director of Pechiney Packaging. In 2004, at the time of the merged with Alcan, Christel Bories took over as Chairwoman of Alcan Packaging, and then, in 2007, of Alcan Engineered Products. Finally, in 2008, she was appointed to the helm of Rio Tinto Engineered Products after the acquisition of Alcan. In 2011, Christel Bories was Chief Executive Officer of Constellium (formerly Alcan). Since 2011, Christel Bories has been a member of the Board of Directors of Natixis and Cercle de l'Industrie, a forum for large industrial companies. She is also Vice President of French think tank La Fabrique de l'Industrie. Since 2012, Christel Bories has been Chairperson of the Strategy Committee of Legrand and a member of the Board of Directors of Smurfit Kappa.
Ipsen is a global specialty-driven pharmaceutical company with total sales exceeding €1.2 billion in 2012. Ipsen's ambition is to become a leader in specialty healthcare solutions for targeted debilitating diseases. Its development strategy is supported by three franchises: neurology, endocrinology and uro-oncology. Moreover, the Group has an active policy of partnerships. Ipsen's R&D is focused on its innovative and differentiated technological platforms, peptides and toxins. In 2012, R&D expenditure totaled close to €250 million, representing more than 20% of Group sales. The Group has close to 4,900 employees worldwide. 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 a loss of market share.
Furthermore, the Research and Development process involves several stages each of which involves 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 favorable 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 cannot be certain that its partners will fulfill their obligations. It might be unable to obtain any benefit from those agreements. A default by any of the Group's partners could generate lower revenues than expected. Such situations could have a negative impact on the Group's business, financial position or performance.
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.
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