Ipsen decided to launch Somatuline for oncology indications

Ipsen (Euronext: IPN; ADR: IPSEY) today announced new governance in the United States, following its recently announced decision to launch Somatuline® for oncology indications. Marc de Garidel will personally oversee this projected launch. Cynthia Schwalm will join Ipsen's US Operations to head up the Endocrinology/Oncology Business Unit as of 3 February, 2014. As of mid-August 2014, she will take over as General Manager of the US commercial affiliate.

Marc de Garidel, Chairman and CEO, Ipsen, said: "Addressing the 500 million dollars GEP- NET1 market in the US represents a key opportunity for the Group to build a long term presence in oncology. With the decision to launch Somatuline® alone, Ipsen reiterated its strong commitment to growing the US platform. In this regard, we are delighted to announce the recruitment of Cynthia Schwalm to strengthen the leadership of our US operations. Cynthia is a highly recognized executive with over 30 years of experience in oncology and in neurology and an in-depth knowledge of the US market."

The new governance of US commercial operations will be implemented as follows:

  • Marc de Garidel will act as both Chairman and CEO of the Ipsen Group and General Manager2 of the US affiliate until mid-August 2014.
  • As of 3 February 2014, Cynthia Schwalm will join Ipsen as Head of the Endocrinology/Oncology Business Unit.
  • As of mid-August 2014, Cynthia Schwalm will officially take up her responsibilities as US General Manager.


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