Core Insights - Ipsen has reported strong sales growth for the year-to-date and third quarter of 2025, with total sales reaching €2,734.8 million, a 9.6% increase compared to the same period in 2024 [2][7] - The company has upgraded its full-year financial guidance, anticipating total sales growth of around 10.0% at constant exchange rates (CER), up from previous guidance of greater than 7.0% [4][8] Sales Performance - Oncology sales increased by 4.5% year-to-date, reaching €1,912.0 million, while third-quarter sales were €624.0 million, up 3.3% [2] - Rare Disease sales saw a significant rise of 97.0% year-to-date, totaling €255.4 million, with third-quarter sales of €102.0 million, reflecting a 100.8% increase [2] - Neuroscience sales grew by 5.8% year-to-date to €567.3 million, with third-quarter sales of €188.9 million, up 3.9% [2] Pipeline and Acquisitions - Ipsen announced positive data from the Phase II LANTIC trial for IPN10200, a long-acting molecule in aesthetics, and plans to present this data at a scientific conference in H1 2026 [3][5] - The company has proposed the acquisition of ImCheck Therapeutics, which will enhance its oncology pipeline with a first-in-class asset [9][10] Regulatory Approvals - Ipsen received regulatory approval for Bylvay® in Japan for treating pruritus associated with progressive familial intrahepatic cholestasis (PFIC) [6] - The company also obtained European Commission approval for Cabometyx® in advanced neuroendocrine tumors [6] Financial Guidance - The updated financial guidance includes a core operating margin of around 35.0% of total sales, an increase from prior guidance of greater than 32.0% [8] - The company expects an adverse impact of around 3% on total sales from currency fluctuations based on September 2025 exchange rates [8][18]