While we have increased our exposure to economically sensitive businesses in Europe, we also added two European health-care companies to the Fund. Ipsen S.A. (XPAR:IPN), based in France, is a pharmaceutical company focused on peptides and toxins in the areas of endocrinology, neurology, and urology-oncology with two successful drugs on the market.
From the Wasatch International Growth Fund Q2 2015 shareholder letter.
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