After spending the last six years plugging revenue holes via licensing and M&A, Ipsen Group is once again on track to meet the 2020 financial targets it set at the beginning of the decade. But the late-stage deals came at the expense of filling the pipeline, while the research-driven strategy set in motion at that time has not borne fruit.
The company’s pipeline has a plethora of line extensions for marketed products, but just six new therapeutics and one imaging agent. The most advanced programs are in Phase II testing (see “Thinning on Top”).
“We have very early assets, and we have top-heavy late stage assets,” EVP of R&D and CSO Alexandre Lebeaut told BioCentury. “That means that the big gap, the big hole in the portfolio has to be filled.”
Just under a year after stepping into the post of CEO, David Meek has now set a course to quadruple the pharma’s goal for new product or line extension launches, and to seek out higher-risk, more innovative assets than Ipsen has in the past.
“We have very early assets, and we have top-heavy late stage assets. That means that the big gap, the big hole in the portfolio has to be filled.”
The company will do this in part by returning to its roots as a clinical stage asset aggregator, seeking compounds with at least some human data in cancer, neurology and endocrinology indications.
It also will partner with an undisclosed VC to establish an option fund that will invest in seed stage companies with differentiated assets in Ipsen’s therapeutic areas.
“To compete and achieve our vision of having innovation