Company Profile For Ipsen S.A.

Ipsen SA is a France-based pharmaceutical company that produces a range of over 20 types of drugs. Its portfolio includes pharmaceutical products that are marketed to specialists working in the three therapeutic areas that the Company has prioritized for drug development: oncology, endocrinology and neuromuscular disorders. The Company also produces primary care therapeutic products for use in the fields of gastroenterology, cardiovascular problems and cognitive disorders. Its products are marketed in over 100 countries in Europe, North America and Asia. Ipsen SA has subsidiaries located across Europe, Asia, and North and South America, all of which are operated via its wholly owned SCRAS subsidiary, which is based in France. Ipsen SA is a subsidiary of the Mayroy group.

BRIEF: For the six months ended 30 June 2009, Ipsen SA's total revenue increased 4% to EUR573.1M. Net income from continuing operations decreased 12% to EUR98.1M. Total revenue reflects a growth in the Company's endocrinology and neurology franchises mainly in Spain, Italy and Asia. Net income from continuing operations was offset by higher financial expenses as well as by deteriorated operating margin due to increased commercial charges.