samedi 30 octobre 2010

Ipsen ou Ipsen ?

Logo: Ipsen


installations_mondiales


Profil de l'entreprise

IPSEN est le leader mondial pour la fourniture des fours et installations de traitement thermique. Le groupe exploite des sites en Europe, en Amérique et en Asie.

Les produits offerts par IPSEN sont utilisés pour les techniques sous atmosphère contrôlée, sous vide, plasma, de brasage et de frittage. Pour un traitement individuel dans des fours à une chambre jusqu'à la production à grande échelle dans des installations intégrées, Ipsen s'occupe, en étroite coopération avec ses clients, de l'étude, de la construction, du montage et de a mise en l'exploitation des fours et installations. Des représentations situées dans le monde entier assurent un accueil optimal des clients.

IPSEN fournit ses équipements à des entreprises des secteurs automobile, aéronautique et érospatiale ainsi qu'à l'industrie mécanique et à l'industrie de construction des machines-outils, mais aussi au secteur médical et à des ateliers commerciaux de traitement thermique á façon.

Depuis plus de 60 ans, IPSEN a dominé et développé le progrès dans le domaine du traitement thermique par de multiples travaux de recherche et de développement.

De par les activités de recherche dans nos propres laboratoires et l'étroite coopération avec les universités et des instituts universitaires dans le domaine de la recherche de sciences de base, l'avance technologique sera, également à l'avenir, mise au profit de nos clients pour leur offrir tous les avantages des nouveaux procédés et solutions en matière du traitement thermique. A part les améliorations qualitatives, ces efforts sont à même d'apporter une contribution au renforcement de l'efficacité de production.



Nokia Corporation (Nokia)

Nokia Corporation (Nokia) is engaged in the manufacturing of mobile devices and in converging Internet and communications industries. It has three segments: Devices & Services, NAVTEQ, and Nokia Siemens Networks. Devices & Services is responsible for developing and managing its portfolio of mobile devices, as well as designing and developing services, including applications and content. NAVTEQ is a provider of digital map information and related location-based content and services for automotive navigation systems and Internet-based mapping applications. Nokia Siemens Networks provides mobile and fixed network infrastructure, communications and networks service platforms, as well as professional services, to operators and service providers. In August 2009, Nokia acquired Cellity. In September 2009, it acquired Plum Ventures, Inc. In October 2009, Nokia sold its Symbian Professional Services. In December 2009, Giesecke & Devrient acquired Venyon Oy. In April 2010, the Company completed the acquisition of Novarra, Inc. and MetaCarta Inc.In September 2010, it acquired Motally, Inc.

Nokia has divided its customers in three categories: mobile phones, smartphones and mobile computers. Its mobile phones are based on the Series 30 or Series 40 software platforms, its smartphones on the Symbian software platform, and its mobile computers on the Maemo software platform. It also manufactures and sells mobile devices under the Vertu brand. Vertu sells products through 70 Vertu stores in over 60 countries.

Mobile Phones

Mobile Phones cover Nokia’s portfolio of mobile devices powered by the Series 30 and Series 40 software platforms, as well as the services and accessories it sells with them. Its Series 30 software platform powers voice and messaging phones. Those devices have voice capability, basic messaging and calendar features, and, color displays, radios, basic cameras and Bluetooth functionality. The Series 40 software platform powers the mobile phone models and supports more functionalities and applications, such as Internet connectivity. Series 40 is open to third-party developers to build Java and Adobe Flash Lite applications and content, which they can make available through Ovi Store, Nokia’s one-stop shop for applications and content. Applications and content for Series 40-based devices include games, video, wallpapers, ringtones and social networking applications.

During the year ended December 31, 2009, Nokia’s portfolio of mobile phones include Nokia 2323 classic, a mobile device offering an fort minor (FM) radio with recording and an Internet browser; Nokia 2330 classic, a mobile device equipped with an integrated camera; Nokia 3720 classic, a rugged handset designed to resist water, dust and shock; Nokia 5130 XpressMusic, a handset optimized for music and equipped with a 2 megapixel camera; Nokia 6303 classic, featuring a 3.2 megapixel camera and Internet browser; Nokia 6700 classic, equipped with a 5 megapixel camera, assisted global positioning system (GPS) navigation and high speed data access, and Nokia X3, a music device with stereo speakers, built-in FM radio and a 3.2 megapixel camera.

Nokia also offers a range of services that can be accessed with the mobile phones. One such service is Nokia Life Tools, which enables consumers to access timely and relevant agricultural information, as well as education and entertainment services, without requiring the use of general packet radio service (GPRS) or Internet connectivity. During 2009, Nokia launched the service in India and Indonesia. Nokia has also developed Ovi Mail, a free e-mail service designed especially for users in emerging markets with Internet-enabled devices. The service can be set up and accessed without needing a personal computer (PC). Ovi Mail is one of the Ovi-branded services that users of Nokia Series 40-powered mobile phones can access. During 2009, Nokia introduced Nokia Money, a mobile financial service. The service is rolled in co-operation with Obopay, a developer of mobile payment solutions.

Smartphones

Nokia’s Smartphones sub-unit brings a range of services and smartphone technologies to a group of consumers, addressing the market for feature-rich mobile devices offering Internet access, entertainment, location-based and other services, applications and content. Its smartphones are advanced mobile devices optimized for creating, accessing, experiencing and sharing multimedia, as well as business use. They are powered by Symbian, a software platform, which supports an array of functionalities. Symbian OS, used by Nokia, is the software platform for smartphones and has been developed by the Symbian Foundation, a non-profit entity, into an open and unified platform. Smartphones product categories include music players, cameras, pocketable computers, gaming consoles and navigation devices, by bringing combinations of their various functionalities into a single device.

During 2009, Nokia’s portfolio of smartphones include Nokia N97, featuring a tilting 3.5 inch touch display with a QWERTY keyboard, a 5 megapixel camera, integrated A-GPS sensors and an electronic compass, and 32 gigabyte (GB) of on-board memory; Nokia N97 mini, a smaller companion to the Nokia N97, featuring a tilting 3.2 inch touch display, QWERTY keyboard and customizable homescreen; Nokia 5230, a touch smartphone that, also is available with Comes With Music, Nokia’s all-you-can-eat music offering; Nokia 5800 Navigation Edition, a touch handset preloaded with a lifetime of voice-guided Drive and Walk navigation licenses for the user’s region; Nokia E72, a device designed especially for business use and messaging, and featuring a full QWERTY keyboard, a 5 megapixel camera and assisted GPS; Nokia E75, featuring a slide out QWERTY keyboard, 3.2 megapixel camera and assisted GPS, and Nokia X6, a touch entertainment device with 32 GB of on-board memory that is available in combination with Comes With Music.

Mobile Computers

Nokia’s Mobile Computers sub-unit addresses the market for compact computing devices, as well as the services and accessories it sells with them. During 2009, Nokia began shipments of the Nokia N900, based on Maemo 5, the latest version of the Linux-based Maemo software platform. Maemo is software that has been developed for computers. Nokia and Intel have entered into an agreement to merge Maemo and Intel’s Moblin software platform to form a single Linux-based and fully open source platform, MeeGo, for a range of computing devices, including pocketable mobile computers, netbooks, tablets, mediaphones, connected television (TV) and in-vehicle infotainment systems. During 2009, Nokia introduced Nokia Booklet 3G, a new Windows 7-based mini-laptop, built for all-day mobility and connectivity. Encased in an ultra-portable aluminum chassis, the Nokia Booklet 3G runs for up to 12 hours on a single charge and has a range of connectivity options.

The Company competes with LG, Motorola, Palm, Research in Motion, Samsung, Sony Ericsson, Apple, Google, HTC, ZTE, Open Handset Alliance and Microsoft.

NAVTEQ

NAVTEQ Corporation is a provider of digital map information and related location-based content and services for automotive navigation systems, mobile navigation devices, Internet-based mapping applications, and government and business solutions. NAVTEQ offers context and geographical services through Nokia Maps to a range of location-based services, such as pedestrian navigation and targeted advertising. In January 2010, Nokia introduced a new version of Ovi Maps for its smartphones, which includes navigation to the user, and it is using NAVTEQ’s digital map information and related location-based content in this offering. The new version of Ovi Maps includes car and pedestrian navigation features, such as turn-by-turn voice guidance for 74 countries, in 46 languages, and traffic information for more than 10 countries, as well as detailed maps for more than 180 countries.

In December 2009, NAVTEQ’s service offerings were combined with Nokia Interactive Advertising business, which is focused on providing technology and services for planning, creating, executing, measuring and optimizing mobile advertising campaigns, with NAVTEQ’s existing location-based advertising business. This enables NAVTEQ map and traffic data customers to include location-based advertising in their location-based products and services. NAVTEQ’s map database enables its customers to offer dynamic navigation, route planning, location-based services and other geographic information-based products and services to consumer and commercial users. NAVTEQ provides its database to mobile device and handset manufacturers, automobile manufacturers and dealers, navigation systems manufacturers, software developers, Internet portals, parcel and overnight delivery services companies and governmental and quasi-governmental entities, among others. The products and services incorporating NAVTEQ map data include Advanced Driver Assistance Systems, Dynamic navigation, Route planning, Location-based services and Geographic information systems.

Advanced Driver Assistance Systems are in-vehicle applications that require geographic data, such as curve, slope, speed limits and highly detailed geometry. Dynamic navigation is real-time, detailed turn-by-turn route guidance, which can be provided to end-users through vehicle navigation systems, as well as through GPS-enabled handheld navigation devices, and other mobile devices. Route planning consists of driving directions, route optimization and map display through services provided by Internet portals and through computer software for personal and commercial use.

Location-based services include location-specific information services, providing information about people and places that is tailored to the proximity of the specific user. The applications using NAVTEQ’s map database include points of interest locators, mobile directory assistance services, emergency response systems and vehicle-based telematics services. Geographic information systems render geographic representations of information and assets for management analysis and decision making. In addition, NAVTEQ has a traffic and logistics data collection network, in which it processes traffic incident and event information, along with traffic flow data collected through its network of roadside sensors, in order to provide detailed traffic information to radio and television stations, in-vehicle and mobile navigation systems, Internet sites and mobile device users.

The Company competes with Google and Tele Atlas.

Nokia Siemens Networks

Nokia Siemens Networks is jointly owned by Nokia and Siemens. Nokia Siemens Networks provides mobile and fixed network infrastructure, communications and networks service platforms, as well as professional services and business solutions to operators and service providers. Nokia Siemens Networks has a product and services portfolio designed to address the converging mobile and fixed infrastructure markets. It focuses on radio technologies, which include GSM, EDGE, WCDMA/HSPA and LTE networks; core networks with Internet protocol (IP) and multi-access capabilities; fixed broadband access, transport, operations and billing support systems; and professional services, such as managed services and consulting.

Nokia Siemens Networks launched solutions, including FlexiPacket Microwave, a full packet microwave solution which combines Carrier Ethernet Transport with Microwave Radio, and charge@once unified and business solutions that allow operators to combine charging and billing. Nokia Siemens Networks launched the Flexi Multiradio base station, which allows GSM/EDGE, WCDMA/HSPA/HSPA+ and LTE standards to run concurrently in a single unit, and the Evolved Packet Core for LTE that enable operators to offer a range of data, voice, and multimedia services over different wireless standards using the same open platform in the core network.

Nokia Siemens Networks has three business units: Business Solutions, which is focused on helping customers generate revenue and includes consulting and systems Integration; operations and business software, which provides network and service management software and charging and billing software, and subscriber database management. Global Services offers operators a range of professional services and a range of network implementation and turnkey solutions. Global Services consists of three businesses: Managed Services, Care and Network Implementation. Network Systems focuses on providing both fixed and mobile network infrastructure, including Nokia Siemens Networks Flexi base stations, core products, optical transport systems and broadband access equipment. For wireless networks, Network Systems develops GSM, EDGE and WCDMA/HSPA radio access networks for operators and network providers. It also develops new technologies, such as I-HSPA and LTE to support the uptake of mobile data services and introduce flat architecture for wireless and mobile broadband applications.

The Company competes with Huawei, ZTE, Cisco, Motorola, NEC, Ericsson, Accenture, Hewlett- Packard (HP) and IBM, Fujitsu, Juniper, Samsung and Tellabs.

vendredi 29 octobre 2010

IPSEN



Positionnement pharmaceutique [modifier]

La stratégie de développement du Groupe s’appuie, d’une part sur des médicaments de spécialité à forte croissance en oncologie, endocrinologie, neurologie et hématologie, et d’autre part sur une activité de médecine générale qui contribue notamment au financement de la recherche. Cette stratégie est également soutenue par une politique active de partenariats. Les centres de Recherche et Développement (R&D) d’Ipsen et sa plate-forme d’ingénierie des peptides et des protéines permettent au Groupe d’avoir un avantage compétitif. Plus de 800 personnes ont pour mission la découverte et le développement de médicaments innovants au service des patients. En 2009, les dépenses de R&D ont atteint près de 200 millions d’euros, soit plus de 19% du chiffre d’affaires consolidé.


Médicaments4 [modifier]

Domaines thérapeutiques ciblés

Oncologie : Décapeptyl

Endocrinologie : Somatuline, NutropinAq, Increlex

Neurologie : Dysport


Médecine générale

Gastro-entérologie : Smecta, Forlax

Troubles cognitifs : Tanakan

Cardio-vasculaire : Nisis et Nisisco

Bourse [modifier]

Les actions Ipsen sont négociées sur le compartiment A du marché Eurolist by Euronext™ (mnémonique : IPN, code ISIN : FR0010259150). Ipsen est membre du SRD (« Service de Règlement Différé ») et fait partie du SBF 120.









Période sur
Date Ouverture + haut + bas Clotûre Volume
28/10/201024,8525,9324,7825,74677.228
27/10/201024,2724,4324,1024,145188.149
26/10/201024,2524,4524,1224,26180.319
25/10/201024,15524,2823,9124,11203.898
22/10/201024,1824,28523,8023,81242.356
21/10/201024,3724,3724,03524,105276.994
20/10/201025,2025,2024,03524,35350.525
19/10/201025,1825,2925,0725,095158.529
18/10/201025,2025,2024,73525,10109.930
15/10/201025,2925,2924,9125,00599.745
14/10/201025,0225,2525,0025,21141.680
13/10/201024,8725,15524,6724,97177.437
12/10/201024,5024,7624,03524,71338.023
11/10/201025,29525,3024,9525,0081.558
08/10/201025,20525,2624,8824,99127.733
07/10/201024,8025,28524,5825,23216.638
06/10/201024,9224,98524,6024,80109.126
05/10/201024,0424,9524,0024,865195.778
04/10/201024,2024,2023,90523,975122.378
01/10/201024,40524,44523,9023,98192.984
30/09/201024,6724,6924,15524,315275.205
29/09/201025,23525,23524,69524,695108.624







IPSEN (IPN) @




Les faits (Dow Jones)

Le laboratoire pharmaceutique Ipsen a annoncé jeudi que son chiffre d'affaires avait progressé de 12% au troisième trimestre 2010, porté par sa croissance hors d'Europe de l'Ouest, et a confirmé son objectif de ventes de médicaments pour l'ensemble de l'année.

Au cours du trimestre achevé le 30 septembre, le groupe a réalisé un chiffre d'affaires de 288,2 millions d'euros, contre 256,4 millions d'euros pour la même période de l'année précédente.

Ipsen "pense être en mesure d'atteindre la fourchette haute de son objectif de croissance de ventes de médicaments de 3% à 5% d'une année sur l'autre en 2010", a ajouté le groupe dans un communiqué.

Au troisième trimestre, l'activité d'Ipsen a reculé de 0,1% en Europe de l'Ouest, mais enregistré des progressions supérieures à 20% dans toutes les autres zones où il est présent, qui ont représenté pour la première fois plus de la moitié de son chiffre d'affaires.

Sur l'ensemble des neuf premiers mois de l'année, son chiffre d'affaires s'est établi à 842,1 millions d'euros contre 777,5 millions d'euros, en hausse de 8,3% en données publiées et de 7% à taux de change courants.

L'analyse (Investir)

Le laboratoire français, qui a enchainé ces derniers mois les mauvaises nouvelles avec les déconvenues sur son médicament phare en développement Taspoglutide (entrainant un chute de près de 30 % du titre au cours de six derniers mois) et le départ brutal de son président, figure de l’industrie pharmaceutique, a agréablement surpris. Le chiffre d’affaires trimestriel s’est révélé très supérieur aux attentes. La direction vise un désormais une croissance annuelle dans le haut de sa fourchette initiale de 3% à 5% (à périmètre et change constant). Les investisseurs apprécient, le titre grimpant de 7% et affichant l’une des plus fortes hausses du SRD.

Le marché a intégré un échec total de Taspoglutide. Sur la base d’un PER de seulement 11 fois pour 2011, et d’un ratio valeur d’entreprise rapporté au résultat d’exploitation inférieur de 18% à la moyenne des sociétés européennes de taille comparables, le titre paraît peu cher alors que ses qualités fondamentales restent solides. Nous restons acheteurs avec un objectif de 28 euros.

Le cours au moment du conseil : 25.79 €