Ipsen, Diabetes-Drug Developer, Rises on FDA’s Novo Decision

Jan. 26 (Bloomberg) -- Ipsen SA, the French drugmaker that developed an experimental diabetes medicine, rose the most in eight weeks in Paris trading after Novo Nordisk A/S won U.S. regulatory approval for a competing product.

The shares climbed 1.52 euros, or 3.9 percent, to 40.52 euros at 10:50 a.m. in Paris. The stock rose as much as 4.5 percent, the biggest intraday advance since Dec. 2.

Ipsen’s taspoglutide, which it licensed to Roche Holding AG, is one of a new class of diabetes medicines that boost insulin production. The Food and Drug Administration’s decision to approve Novo’s Victoza “bodes well” for taspoglutide, Jeffrey Holford, an analyst at Jefferies International Ltd., wrote in a report today.

To contact the reporter on this story: Phil Serafino in Paris at pserafino@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net