Ipsen takes €669M hit as palovarotene's prospects wither

Ipsen takes €669M hit as palovarotene's prospects wither

Source: 
Fierce Biotech
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Ipsen has recorded a €669 million ($728 million) partial impairment on a rare disease drug it bought last year. The prospects of the drug, palovarotene, took back-to-back hits around the end of 2019, leading Ipsen to dramatically dial down its expectations.