Ipsen delivers strong results in the first half of 2025 and upgrades its full-year guidance

Core Insights - Ipsen reported strong financial results for H1 2025, with total sales reaching €1,819.8 million, a 9.7% increase compared to H1 2024, and 11.4% growth at constant exchange rates (CER) [2][3] - The company achieved a core operating income of €655.8 million, reflecting a 21.9% increase, and a core operating margin of 36.0%, up by 3.6 percentage points [2][3] - Ipsen upgraded its full-year 2025 financial guidance, expecting total sales growth greater than 7.0% at CER, and a core operating margin exceeding 32.0% [3][4] Financial Performance - Total sales for H1 2025 were €1,819.8 million, compared to €1,659.3 million in H1 2024, marking a 9.7% increase [2] - Core operating income rose to €655.8 million from €538.0 million, a growth of 21.9% [2] - Core consolidated net profit increased by 27.3% to €508.3 million, with core earnings per share rising to €6.07 from €4.78 [2] - IFRS operating income was €451.6 million, up 42.1%, with an IFRS operating margin of 24.8%, an increase of 5.7 percentage points [2] Therapeutic Areas Performance - Sales growth was driven by three therapeutic areas: 95.7% in Rare Disease, 9.7% in Neuroscience, and 6.4% in Oncology [3] - The rare liver disease franchise showed particularly strong momentum, contributing significantly to overall sales growth [3] Pipeline and Regulatory Updates - Ipsen received European Commission approval for Cabometyx in advanced neuroendocrine tumors on July 23, 2025, marking the sixth indication for the drug [3][6] - The company is anticipating pivotal study results for fidrisertib in fibrodysplasia ossificans progressiva (FOP) and proof-of-concept data for LANT in aesthetics in the second half of 2025 [3][4] - Recent pipeline developments include the initiation of a Phase II study of LANT in cervical dystonia and the presentation of Iqirvo® data at a major liver congress [5][6] Future Outlook - The company expects a negative impact on Somatuline sales due to increased generic competition in the U.S. and Europe, but remains optimistic about overall growth [4][11] - Ipsen's strategy focuses on external innovation and a commitment to scientific excellence, positioning the company for continued positive impact in the biopharmaceutical sector [4]