PARIS, FRANCE, April 16, 2025 - Ipsen (Euronext: IPN; ADR: IPSEY), a global biopharmaceutical specialty group, today announced its revenue figures for the first quarter of 2025. The company has reported a substantial 11.6% growth in sales at constant exchange rates, or 11.7% in published data, driven by contributions from all therapeutic areas, including a notable increase in sales from Iqirvo and Bylvay.

In the first quarter of 2025, Ipsen achieved a consolidated revenue of 918.8 million, reflecting solid performance across its key divisions. The breakdown of this revenue is as follows:

• Oncology: 655.0 million, with an increase of 8.5% at constant exchange rates.
• Rare Diseases: 193.5 million, showing an uptick of 8.0% at constant rates.
• Neurosciences: 70.3 million, which surged by an impressive 78.4% at constant exchange rates.

David Loew, the CEO of Ipsen, remarked, Ipsen has started 2025 on a strong note, continuing the momentum of transformation we initiated. We are making significant progress in executing our strategy, characterized by robust sales growth and notable advancements in our R&D product portfolio. I am particularly pleased with the rise of our franchise in rare cholestatic liver diseases, supported by two innovative medicines targeting five different indications. The year ahead is poised to be important, driven by several ongoing product launches and key milestones expected across our product range.

Financial Objectives for 2025

Ipsen has reaffirmed its financial goals for the 2025 fiscal year, anticipating:

• Total sales growth exceeding 5.0% at constant exchange rates.
• Operating margin for activities exceeding 30%, incorporating additional R&D expenditures stemming from potential early and mid-stage external innovation opportunities.

These projections take into account the introduction of new generics of lanreotide in the United States and Europe for Somatuline and do not factor in the potential impact of any additional external innovation transactions involving advanced-phase assets (Phase III clinical development or beyond).

Key Milestones in 2025

Looking ahead, Ipsen anticipates reaching several key milestones for its R&D product portfolio this year, including:

• Cabometyx: Regulatory decision from the European Union regarding treatment for advanced neuroendocrine tumors, specifically pancreatic neuroendocrine tumors (pNETs) and extra-pancreatic neuroendocrine tumors (epNETs).
• Fidrisertib: Results from the pivotal Phase IIb trial focusing on fibrodysplasia ossificans progressiva (FOP).
• LANT3: Initial proof-of-concept data evaluating the potential of the drug in aesthetics.

During Q1 2025, the regulatory submission for tovorafenib was accepted by the European Medicines Agency (EMA), marking a significant progression in the development of this potential treatment for low-grade pediatric gliomas, which underscores Ipsen's commitment to innovation in tackling rare and challenging cancers.

The company also initiated Phase I trials for lPN01195, a RAF inhibitor, complementing lPN01194, an ERK inhibitor, along with tovorafenib, all targeting the MAPK pathway.

Group Refinancing

On March 19, Ipsen announced the successful completion of its inaugural bond issuance amounting to 500 million, with a coupon of 3.875% maturing in March 2032. This issuance received favorable reception and was significantly oversubscribed by a diverse and solid base of institutional investors following the investment grade ratings assigned by S&P and Moodys. This transaction is a crucial element of Ipsen's refinancing plan, which also included the renewal of its 1.5 billion syndicated credit line, thus extending the debt maturity profile of the Group.

Conference Call

Today at 2:00 PM Paris time, Ipsen will host a conference call and webcast for investors and analysts. Participants can access details for the conference and corresponding information here. For more information on the webcast, all necessary details are available here.

Upcoming Schedule

Ipsen plans to release its first-half results on July 31, 2025.

About Ipsen

Ipsen is a global biopharmaceutical group focused on developing innovative medicines for patients across three therapeutic areas: Oncology, Rare Diseases, and Neurosciences. Our R&D product portfolio relies on both internal and external innovation, drawing upon nearly 100 years of development experience within global hubs in the United States, France, and the United Kingdom. With teams in over 40 countries and partnerships worldwide, we are dedicated to delivering our medicines to patients in more than 100 countries.

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James Whitmore