|[February 27, 2013]
Christel Bories Joins Ipsen as Deputy Chief Executive Officer
PARIS --(Business Wire)--
Ipsen's Board of Directors (Euronext: IPN; ADR: IPSEY) (Paris:IPN),
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 Boies 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.
The Group's business is subject to the risk factors outlined in its
registration documents filed with the French Autorité des Marchés
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