PARIS--(BUSINESS WIRE)--Regulatory News:
Ipsen (Euronext: IPN; ADR: IPSEY), a global specialty-driven
pharmaceutical group, announced today the successful issue of its
inaugural unsecured 7-year Notes for a total of €300 million.
These
Notes mature on June 16, 2023 and pay interest at an annual rate of
1.875%. Application has been made for the Notes to be admitted to
trading on the regulated market of Euronext Paris.
Ipsen has been able to take advantage of the current market environment to raise long-term financing at attractive conditions. The transaction was well received by a diversified investor base and was more than 4 times over-subscribed, demonstrating the market’s confidence in Ipsen’s long-term business model.
The purpose of this issue is to diversify and extend the maturity of Ipsen’s financial resources and to support its investment and business development strategy.
BNP Paribas, HSBC Bank plc, and Société Générale were Global Coordinators and Joint Lead Managers. Crédit Agricole Corporate and Investment Bank and Natixis also acted as Joint Lead Managers.
About the Notes:
Issuer: Ipsen S.A.
Amount: €300 million
Coupon: 1.875%
Maturity: 7 years
Market: Euronext Paris (Regulated Market)
About Ipsen
Ipsen is a global specialty-driven
pharmaceutical group with total sales exceeding €1.4 billion in 2015.
Ipsen sells more than 20 drugs in more than 115 countries, with a direct
commercial presence in more than 30 countries. Ipsen’s ambition is to
become a leader in specialty healthcare solutions for targeted
debilitating diseases. Its fields of expertise cover oncology,
neurosciences and endocrinology (adult & pediatric). Ipsen’s commitment
to oncology is exemplified through its growing portfolio of key
therapies improving the care of patients suffering from prostate cancer,
bladder cancer and neuro-endocrine tumors. Ipsen also has a significant
presence in primary care. 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, located in
the heart of the leading biotechnological and life sciences hubs (Les
Ulis/Paris-Saclay, France; Slough/Oxford, UK; Cambridge, US). In 2015,
R&D expenditure totaled close to €193 million. The Group has more than
4,600 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.
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. Use of the words "believes," "anticipates" and "expects" and
similar expressions are intended to identify forward-looking statements,
including the Group’s expectations regarding future events, including
regulatory filings and determinations. 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 generic products 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 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. There can be no guarantees a product
will receive the necessary regulatory approvals or that the product will
prove to be commercially successful. If underlying assumptions prove
inaccurate or risks or uncertainties materialize, actual results may
differ materially from those set forth in the forward-looking
statements. Other risks and uncertainties include but are not limited
to, general industry conditions and competition; general economic
factors, including interest rate and currency exchange rate
fluctuations; the impact of pharmaceutical industry regulation and
health care legislation; global trends toward health care cost
containment; technological advances, new products and patents attained
by competitors; challenges inherent in new product development,
including obtaining regulatory approval; the Group's ability to
accurately predict future market conditions; manufacturing difficulties
or delays; financial instability of international economies and
sovereign risk; dependence on the effectiveness of the Group’s patents
and other protections for innovative products; and the exposure to
litigation, including patent litigation, and/or regulatory actions. 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 fulfil 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
Financiers. The risks and uncertainties set out are not exhaustive and
the reader is advised to refer to the Group’s 2015 Registration Document
available on its website (www.ipsen.com).
Not for distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.
France
This announcement does not constitute or
form part of an offer or solicitation of an offer to purchase or
subscribe for securities in France. This document shall not be
construed as an offer to the public as defined under article L.411-1 of
the French Code monétaire et financier, to the extent that the Notes
will have a denomination of €100,000 and will only be offered to (i)
providers of investment services relating to portfolio management for
the account of third parties (personnes fournissant le service
d'investissement de gestion de portefeuille pour compte de tiers),
and/or (ii) qualified investors (investisseurs qualifiés) acting for
their own account as defined in, and in accordance with Articles L. 411-1,
L.411-2 and D.411-1 of the French Code monétaire et financier.
United States
Neither this document nor any copy
of it maybe taken, transmitted or distributed, directly or indirectly,
in or into the United States its territories or possessions or to any US
person (as defined in Regulation S under the United States Securities
Act of 1933, as amended (the “U.S. Securities Act”)). This document does
not constitute or form part of any offer or solicitation of an offer to
purchase or subscribe for securities in the United States. The Notes may
not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the U.S.
Securities Act The Notes have not been and will not be registered under
the U.S. Securities Act and Ipsen S.A. does not intend to make a public
offer of the Notes in the United States. Any failure to comply with
these restrictions may constitute a violation of United States
securities law and other applicable laws.
United Kingdom
This document is distributed only
to, and is directed only at persons who (i) have professional experience
in matters relating to investments falling within Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005
, as amended (the "Order"), (ii) fall within Article 49(2)(a) to (d)
("high net worth companies, unincorporated associations etc") of the
Order, or (iii) are outside the United Kingdom and to whom it may
otherwise lawfully be communicated, (all such persons together being
referred to as "relevant persons"). Neither this document nor any of its
contents must be acted on or relied on by persons who are not relevant
persons. Any investment or investment activity to which this document
relates is available to relevant persons only and will be engaged in
only with relevant persons.
