UPDATE 1-French group Ipsen Q3 sales rise 1.6 percent
(Adds detail on Ipsen financial targets, paragraph 3)
PARIS, Nov 6 (Reuters) - French pharmaceutical group Ipsen (IPN.PA) posted a 1.6 percent rise in third-quarter sales on Tuesday and maintained its full-year sales outlook.
Revenues over the third quarter rose to 224.1 million euros
($324 million), helped by the sale of products treating neuromuscular disorders and gastroenterology.
Ipsen has targeted full-year total revenue growth of between 4 and 5 percent. This includes royalties and milestone payments. Excluding this, Ipsen has targeted growth of between 6.5 and 7.5 percent and it is also targeting an operating margin of between 22-23 percent of sales.
Ipsen shares were up 1.1 percent at 38.94 euros in mid-morning trade. The stock has risen around 10 percent since the start of 2007 and Ipsen has a current market capitalisation of around 3.2 billion euros.
(Reporting by Sudip Kar-Gupta; Editing by Quentin Bryar)
((sudip.kargupta@reuters.com; +33 1 49 49 54 52;
Reuters Messaging:sudip.kargupta.reuters.com@reuters.net ))
($1=.6916 Euro) Keywords: IPSEN RESULTS/
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