3 February 2012 - French Ipsen (EPA:IPN) said on Thursday it expects asset depreciations of between EUR110m (USD144.9m) and EUR130m in 2011, linked to downward revision of the sales guidance of its US partner Inspiration.

Furthermore, Ipsen forecasts delays in the supplies of the drug Increlex, due to the awaited inspection by the US healthcare safety authorities of the production site in the US.

Ipsen has nevertheless affirmed its target for recurring operating profit of between EUR190m and EUR200m in 2011.

The group's sales in France dropped 4.6% in 2011 to EUR293m, on the back of a fall in sales of its drug Tanakan. The price of the drug will not be reimbursed in France any longer after 1 March and its sales are seen to decrease by 35% in 2012. Ipsen's overall sales improved by 5.4% to EUR1.16bn last year. Primary care drug sales went up 1.2% to EUR368.5m, while specialty drugs rose 8% to EUR760m.

(EUR1 = USD1.314)