Resolutions Submitted to Ipsen’s Shareholders’ Meeting on June 7, 2017
Ipsen (Euronext: IPN; ADR: IPSEY) announces the publication of the resolutions proposed by its Board of Directors to its next Shareholders’ Meeting to be held on June 7, 2017 at 3:00 pm at the Maison des Arts et Métiers in Paris in the Bulletin des annonces légales obligatoires .
In addition to the dividend approval (€0.85 per share), shareholders will be asked to approve the following main resolutions:
Nominations of Dr. Margaret Liu and Ms. Carol Stuckley as independent
Directors. They would bring to the Board of Directors diverse
international experiences and solid scientific and business
- Dr. Margaret Liu is a worldwide distinguished scientist who consults in global health and teaches at the University of California, San Francisco (UCSF) and the Karolinska Institute. She is a graduate of Harvard Medical School and is renowned for her scientific contributions in the field of vaccines and cancer immunotherapies.
- Carol Stuckley is an experienced Chief Financial Officer who has worked extensively in the pharmaceutical industry. She holds an MBA in International Business & Finance and an MA in Economics from Temple University in Philadelphia.
- Nomination of Mr. David Meek, Chief Executive Officer of the Company, as Director.
- Renewal of Mr. Antoine Flochel, Vice-Chairman of the Board of Directors, as Director.
Biographies of Dr. Margaret Liu and Ms. Carol Stuckley
Margaret Liu, in her role as Principal of ProTherImmune since 2002, consults in the fields of global health, vaccines and immunotherapy for pharma/biotech and investment companies, universities, and governmental scientific research councils. Since 2003, she has also served as Professor at Karolinska Institute in Stockholm, Sweden, first as Visiting Professor and then as Foreign Adjunct Professor. She has also served as Adjunct Full Professor at the University of California in San Francisco, CA since 2013 and President for the International Society for Vaccines since 2016. Before that, she served various functions in the private and public sector parallel to her academic career. She earned her B.A. in Chemistry, summa cum laude , from Colorado College and an M.D. from Harvard Medical School.
Carol Stuckley is the Chief Financial Officer and Senior Vice President of Healthcare Payment Specialists, LLC in Fort Worth, TX. From 2010 to 2013, she was Vice President, Finance (Chief Financial Officer), North America at Galderma Laboratories, L.P., in Fort Worth, TX. Prior to Galderma, Carol had a 23 year career at Pfizer, Inc., New York, NY, where she held several multinational, senior financial leadership roles including Assistant Treasurer, Corporate Officer and Vice President of Finance. She holds an MBA in International Business & Finance and an MA in Economics from Temple University (Fox Business School) in Philadelphia, PA as well as a BA in Economics and French from the University of Delaware in Newark, DE.
Ipsen is a global specialty-driven pharmaceutical group with total sales close to €1.6 billion in 2016. 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, neuro-endocrine tumors, renal cell carcinoma and pancreatic cancer. 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 2016, R&D expenditures exceeded €200 million. The Group has more than 4,900 employees worldwide. Ipsen’s shares are traded on segment A of Euronext Paris (stock code: IPN, ISIN code: FR0010259150) and are 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 trades 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 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. 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 2016 Registration Document available on its website (www.ipsen.com ).
Didier Véron, Tel.: +33 (0)1 58 33 51 16
Senior Vice-President, Public Affairs and Communication
Brigitte Le Guennec, Tel.: +33 (0)1 58 33 51 17
Corporate External Communication Manager
E-mail : firstname.lastname@example.org
Eugenia Litz, Tel.: +44 (0) 1753 627721
Vice-President, Investor Relations
Côme de La Tour du Pin, Tel.: +33 (0)1 58 33 53 31
Investor Relations Manager
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