Core Insights - Ipsen reported strong financial results for FY 2025, with total sales reaching €3,675.9 million, an increase of 8.1% as reported and 10.9% at constant exchange rates (CER) compared to FY 2024 [2][4] - The company achieved a core operating income of €1,294.1 million, reflecting a growth of 16.7% and a core operating margin of 35.2%, up by 2.6 percentage points [2][4] - Core consolidated net profit increased by 17.6% to €1,009.1 million, with core earnings per share rising to €12.09, a 17.8% increase [2][4] - Ipsen anticipates continued double-digit sales growth for 2026, projecting total sales growth greater than 13.0% at CER, driven by portfolio acceleration and improved outlook for Somatuline [3][5][6] Financial Performance - Total sales for FY 2025 were €3,675.9 million, with growth driven by Oncology (4.1%), Rare Disease (102.5%), and Neuroscience (9.7%) [4] - Somatuline® sales grew by 4.3%, while other products excluding Somatuline achieved double-digit sales growth of 14.2% [4] - Free cash flow for FY 2025 was €1,000.6 million, a 29.2% increase from the previous year [2] Pipeline and Innovation - Ipsen made significant advancements in its pipeline, including multiple regulatory and clinical milestones, and the acquisition of ImCheck Therapeutics [4][15] - Five major regulatory and clinical milestones are expected in 2026, including full data readout for IPN10200 [4][19] - The company initiated several Phase I oncology studies and expanded its immuno-oncology portfolio with the acquisition of ImCheck Therapeutics [15][14] Regulatory and Clinical Developments - In 2025, Ipsen achieved important regulatory milestones, including the acceptance of tovorafenib for review by the EMA and the approval of Cabometyx for advanced neuroendocrine tumors [9][11] - Positive Phase II data for Iqirvo® and IPN10200 were reported, demonstrating promising efficacy and safety profiles [10][12] Environmental, Social, and Governance (ESG) - Ipsen made progress on its sustainability strategy, achieving a 54% reduction in Scopes 1 & 2 greenhouse gas emissions and sourcing 100% of its global electricity from renewable sources [21][25] - The company received an A rating from CDP for environmental actions and achieved gender parity within its Executive Leadership Team [22]