French pharmaceutical group Ipsen SA (IPN.FR) Monday said it sold its shares in in PregLem Holding SA to Gedeon Richter Plc (RICHTER.BU0, as have all PregLem's other shareholders.

MAIN FACTS:

- Ipsen will receive initial proceeds of CHF 6 million from the sale of its PregLem shares. Ipsen may also receive progressive additional payments of up to CHF 25 million, contingent upon the achievement of certain business development and regulatory milestones for EsmyaTM.

- The impact of this transaction will be recorded as financial income in Ipsen's accounts.

- In June 2007, the Group spun off to PregLem, then a newly-formed, privately held Swiss biopharmaceutical company, a sulfatase inhibitor and a somatostatin analogue (PGL1001 and PGL2001, respectively), patents and know-how for use in the field of human reproductive medicine.

-In parallel, Ipsen subscribed to newly issued shares of Preglem, representing a c.15 % minority interest in its share capital.

- Additionally, subject to PGL1001 and PGL2001 being granted marketing approvals, Ipsen will notably receive mid single digit royalties on PregLem's future net sales of these products.

Company Web site: www.ipsen.com

- By Paris Bureau, Dow Jones Newswires; +331-4017-1740; geraldine.amiel@dowjones.com;
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