Slide 1: Focus. Together. For patients & society
Bring The full potential of our innovative medicines to patients Build A high-value sustainable pipeline Deliver Efficiencies to enable targeted investment & growth Focus. Together. For patients & society Boost A culture of collaboration & excellence 1
Slide 2: Disclaimer and safe harbor
Disclaimer and safe harbor − This presentation includes only summary information and does not purport to be comprehensive. Forward-looking statements, targets and estimates contained herein are for illustrative purposes only and are based on management’s current views and assumptions. Such statement
Slide 3: Highlights
Highlights Consistent strong delivery on strategic roadmap Financial results Pipeline update • Total-sales growth: +8.5% at CER • Onivyde 1L PDAC: primary endpoint met • Core operating margin: 36.9%1 • Palovarotene: U.S. FDA - CRL, E.U. CHMP - negative opinion Acquisitions: Albireo2 and Epizyme 2023
Slide 4: Sales highlights
Sales highlights Growth platforms outweighing the gradual decline of Somatuline FY 2022 Q4 2022 €m change €m change Dysport 594 29.4% 193 40.4% Decapeptyl 530 12.4% 134 3.9% Cabometyx 449 23.9% 121 23.1% Onivyde 162 14.1% 40 5.9% Growth platforms 1,734 20.9% 488 21.1% Somatuline 1,218 -5.6% 306 -13.
Slide 5: Strong performance from growth platforms of +20.9%
Strong performance from growth platforms of +20.9% +29.4% +12.4% +23.9% +14.1% Strong performances Continued strong Launches of the Solid U.S. share growth across underlying growth, combo in 1L RCC in the current setting Ax and Tx despite COVID-19 impact progressing well in China Capacity increase L
Slide 6: Somatuline sales gradually declining: FY 2022 -5.6%, Q4 2022 -13.3%
Somatuline sales gradually declining: FY 2022 -5.6%, Q4 2022 -13.3% A challenging environment in 2022 in the U.S. and Europe NORTH AMERICA REST OF FY 2022: -7.5% WORLD FY 2022: +36.1% Q4 2022: -17.6% Q4 2022: +40.3% Direct and indirect impacts from competition Strong performances in a Generic compet
Slide 7: Consistent execution of the external-innovation strategy
Consistent execution of the external-innovation strategy 20 assets added in two years O N C O L O G Y: 1 2 a s s e t s RARE DISEASE: 5 assets Tazverik ERK-inhibitor METTL3 Elafibranor Bylvay Epizyme1 AGV Discovery Accent GENFIT ALBIREO2 Therapeutics Approved Preclinical Preclinical Phase III Approve
Slide 8: Albireo: expanding Ipsen's scope in Rare Disease
Albireo1: expanding Ipsen’s scope in Rare Disease Perfectly aligned to the external-innovation strategy Global rights2 Multiple opportunities • Bylvay: a potentially best-in-class • Bylvay: progressive familial rare liver-disease medicine intrahepatic cholestasis, Alagille approved in the U.S. & E.U
Slide 9: Building a high-value, sustainable pipeline
Building a high-value, sustainable pipeline Phase I Phase II Phase III Registration IPN60210 TAZVERIK CABOMETYX + R/R multiple myeloma (various combinations) ATEZOLIZUMAB PALOVAROTENE and R/R DLBCL R/R malignancies 2L mCRPC FOP IPN10200 TAZVERIK ONIVYDE + 5-FU/LV + Longer-acting neurotoxin (+ hormon
Slide 10: Pipeline: near-term major milestones
Pipeline: near-term major milestones Elafibranor: 2L PBC Phase III data readout Palovarotene: FOP Information submission (U.S.)1 Request re-examination of CHMP opinion (E.U.)2 Onivyde: 1L PDAC Regulatory submission (U.S.) Cabometyx + atezolizumab: 2L mCRPC Phase III data readout (PFS) Bylvay3: Alagi
Slide 11: Onivyde
Onivyde Potential in 1L PDAC 1L data presented at ASCO GI, San Francisco Potential to Onivyde Trial met key A potential Leveraging expand regimen secondary advance in an Ipsen’s existing Onivyde’s peak- endpoint of aggressive and in-market sales potential progression- difficult-to-treat presence & f
Slide 12: Environment, Patients, People, Governance
Environment Patients People Governance Emissions Access Diversity Certification GHG emission-reduction Partnership with Access Females: 48% of the ISO 37001 certification for trajectory: officially certified Accelerated: continued to Global Leadership Team anti-corruption management by the Science B
Slide 13: FY 2022 financial highlights
FY 2022 financial highlights Total sales €3,025m +8.5% Core operating income €1,115m +13.5% Core operating margin1 36.9% -0.3 pts Core EPS2 €10.51 +18.4% Free cash flow €817m +4.7% Total-sales growth is at constant exchange rates; all other growth rates are at actual exchange rates. 1. As a ratio of
Slide 14: Core P&L: strong sales growth; stable core operating margin
Core P&L: strong sales growth; stable core operating margin €m FY 2022 FY 2021 change Total sales Total Sales 3,025.0 2,643.3 14.4% Positive impact from currencies Other revenue 131.5 105.4 24.7% Cost of goods sold (527.7) (438.6) 20.3% Other revenue Increased Dysport royalties Gross Profit 2,628.7
Slide 15: Cash flow and net debt
Cash flow and net debt FY 2022 FY 2021 change €m €m Opening Net Cash/(Debt)1 28.0 (388.0) n/a Free cash flow 817.2 780.7 4.7% Solid free cash flow: growing by 5% Dividend (100.2) (83.1) -20.6% Net investments (564.5) (240.4) n/a Fully deleveraged balance sheet: Change in cash from discontinued activ
Slide 16: FY 2023 guidance
FY 2023 guidance Reflecting sustained top-line growth and enhanced pipeline investment Total-sales growth greater than x.0% at constant exchange rates Total-sales growth Core operating margin Guidance greater than 4.0% at around 30% assumptions constant exchange rates of total sales Expected adverse
Slide 17: Conclusion
Conclusion Successfully executing on our strategy DELIVERING ADVANCING THE FOCUSING ON STRONG RESULTS PIPELINE EXTERNAL INNOVATION Strong progress on the Increased number of 20 assets added to the four strategic pillars assets and trials pipeline in two years Growth platforms Opportunities Significa
Slide 18: Appendix
APPENDIX SIPSEN
Slide 19: A strong and expanded global footprint
A strong and expanded global footprint NORTH AMERICA REST OF WORLD 34% 25% OF TOTAL SALES OF TOTAL SALES 30+ EUROPE 100+ countries with countries where Ipsen Ipsen presence 41% medicines are marketed OF TOTAL SALES Based on FY 2022 total sales. In this presentation, Europe is defined as the E.U., th
Slide 20: FY 2022 total sales: favorable impact of fx rates
FY 2022 total sales: favorable impact of fx rates Average rate changes FY 2022 sales by currency (FY 2022 vs. FY 2021) Other USD: 1.06 BRL:5.46 CNY: 7.02 AUD: 1.50 TRY: 16.87 23% 11% 15% 7% 4% EUR 34% CNY 4% 4% GBP USD BRL CNY AUD -66% 35% USD TRY Favorable 6.0% impact 20
Slide 21: Core operating income to consolidated net profit
Core operating income to consolidated net profit FY 2022 FY 2021 change €m €m Core Operating Income 1,115.4 983.1 13.5% Amortization of intangible assets (103.6) (79.4) 30.6% Restructuring and other operating expense (167.5) (69.9) n/a Impairment losses (114.3) (9.1) n/a IFRS Operating Income 729.9
Slide 22: Oncology: key ongoing clinical-trial highlights
Oncology Key ongoing clinical-trial highlights TRIAL P O P U L AT I O N PAT I E N T S DESIGN P R I M ARY E N D P O I N T (S ) S TAT U S Cabometyx Docetaxel Primary CONTACT-01 Phase III 2L NSCLC 366 or OS endpoint NCT04471428 Cabometyx + atezolizumab not met Second novel hormonal Cabometyx therapy (a
Slide 23: Oncology: key ongoing clinical-trial highlights
Oncology Key ongoing clinical-trial highlights TRIAL P O P U L AT I O N PAT I E N T S DESIGN P R I M ARY E N D P O I N T (S ) S TAT U S R/R FL: following at Tazverik Placebo + R2 least one prior systemic SYMPHONY-1 Phase III chemotherapy, 540 or PFS Recruiting immunotherapy, or Tazverik + R2 NCT0422
Slide 24: Rare Disease: key ongoing clinical-trial highlights
Rare Disease Key ongoing clinical-trial highlights TRIAL P O P U L AT I O N P AT I E N T S DESIGN P R I M ARY S TAT U S ENDPOINT(S) U.S.: CRL Palovarotene - 5mg December 2022 Palovarotene QD and upon flare- MOVE FOP Annualized change in Phase III (chronic) 107 up, 20mg QD for 28 new HO volume E.U. C
Slide 25: Neuroscience: key ongoing clinical-trial highlights
Neuroscience Key ongoing clinical-trial highlights TRI AL P O P U L AT I O N PAT I E N T S DESIGN P R I M ARY E N D P O I N T (S ) S TAT U S Mesdopetam Levodopa-induced Change in average daily hours Primary Phase IIb dyskinesia in 156 Mesdopetam or placebo of ON-time1 without endpoint not NCT0443543
Slide 26: Thank you
THANK YOU 26
Slide 27: Investor Relations
Investor Relations Adrien DUPIN DE SAINT-CYR CraigRelations Investor MARKS Manager Vice President, Investor Relations +44 7564 349 193 craig.marks@ipsen.com 27
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