Af­ter FDA hold and tri­al fail­ure, Ipsen writes down its big ac­qui­si­tion — but they're not giv­ing up

Near­ly a year ago, at the same time Roche shelled out $4.3 bil­lion on Spark Ther­a­peu­tics, Paris-based Ipsen bought its own bil­lion-dol­lar ac­qui­si­tion: Clemen­tia and their late-stage pro­gram for a pair of rare bone dis­eases.

Since then, the re­sults have not been great, ei­ther for the drug or for Ipsen. And to­day, the com­pa­ny re­port­ed in its year­ly earn­ings that it has tak­en a €669 mil­lion ($728 mil­lion) par­tial im­pair­ment on the drug, known as palo­varotene. The com­pa­ny had spent $1.3 bil­lion to ac­quire the drug.

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