Ipsen Sa · EURONEXT:IPN
Ipsen Sa — Investor Presentation (August 2021)
25 slides from Ipsen Sa's investor presentation, August 2021
Slide 1: Investor Presentation Autumn 2021
Investor Presentation Autumn 2021 1
Slide 2: Disclaimer & Safe Harbor
Disclaimer & 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 statements
Slide 3: Headlines
Headlines Strong financial results Delivering against the strategy − Total sales growth: +11.0% − Maximizing our brands − SG&A expenses to sales: 35.8% − Strengthening our pipeline − Core operating margin: 35.5% − Driving efficiencies − Free cash flow growth: +24.9% − Focusing on culture Full-year g
Slide 4: H1 2021 sales highlights: strong growth of key brands
H1 2021 sales highlights: strong growth of key brands Oncology +8.9% +5.2% Strong sales partly impacted by the pandemic Continued share growth in most markets €1,013m: 75% of total sales +16.3% €m 58 Excellent result driven by recovery in China 63 167 Further market-share gains 137 223 +22.9% 194 St
Slide 5: H1 2021 sales highlights: strong growth of key brands
H1 2021 sales highlights: strong growth of key brands Neuroscience +28.3% €206m: 15% of total sales A strong recovery from the pandemic €m Good performance in the North America and Europe therapeutics markets 206 Strong Ipsen and Galderma aesthetics sales 171 including growth in Russia and the Middl
Slide 6: H1 2021 sales highlights: strong growth of key brands
H1 2021 sales highlights: strong growth of key brands Consumer Healthcare +8.6% €106m: 8% of total sales A strong performance, driven by improving €m 16 post-COVID conditions in China 12 Other 12 17 19 21 Fortrans/Eziclen Good Smecta OTC sales, offset by generic competition in France 20 17 Tanakan F
Slide 7: Strengthening the pipeline
Strengthening the pipeline Phase I Phase II Phase III Registration Cabometyx + atezolizumab IPN601301 Cabometyx + atezolizumab Dysport solution Solid tumors FOP 1L HCC Glabellar lines IPN59011 NEW Dysport Cabometyx Longer-acting neurotoxin 2L RR DTC2 NDO Ax IPN10200 palovarotene Cabometyx + atezoliz
Slide 8: Accelerating external innovation
Accelerating external innovation Oncology Neuroscience BAKX Therapeutics: BKX-001 IRLAB: mesdopetam • Target: the apoptosis cell pathway • Indication: patients with Parkinson’s disease experiencing levodopa-induced dyskinesia • Development stage: preclinical • Development stage: Phase IIb • Potentia
Slide 9: Focus on culture: real CSR progress
Focus on culture: real CSR progress Employees Communities Environment Donation to 100% green electricity across the Establishment of gender-balance International Health Partners U.K., Ireland and France targets for leadership teams by 2025 Supporting students Boiler upgrades reducing carbon Recognit
Slide 10: Strong H1 financial performance
Strong H1 financial performance Total sales Core operating margin Free cash flow Specialty Care €1.35bn Consumer 35.5% Healthcare of total sales +11.0%1 €291m +3.2% points +24.9% • Specialty Care sales • Cost focus leads to an • Strong EBITDA increased by 11.2%1 improvement in profitability growth o
Slide 11: Sales growth & margin enhancement
Sales growth & margin enhancement H1 2021 H1 2020 Change €m €m Total Sales 1,350.3 1,268.3 6.5% Total sales: adverse impact of foreign-exchange rates Other revenue 64.3 38.6 66.3% Other revenue: growth in Cost of goods sold (250.6) (241.8) 3.6% royalties paid by partners Gross profit 1,164.0 1,065.1
Slide 12: Driving efficiencies
Driving efficiencies Leveraging top-line growth to generate efficiencies SG&A SG&A expenses expenses H1 2020 H1 2021 37.0% 35.8% of of total sales total sales Growth driven by Savings driven by − Investment for preparation of − Savings on T&E and lower launches (9ER, palovarotene) and medical & mark
Slide 13: Strong balance sheet and further cash generation
Strong balance sheet and further Capital allocation cash generation prioritized €m to external innovation +15.9% Current firepower2 for pipeline expansion: €1.7bn, +24.9% as at the end of H1 2021 -35.8%1 On target for €3.0bn cumulative firepower2 by 2024 All growth rates are at actual exchange rates
Slide 14: Upgraded FY 2021 guidance
Upgraded FY 2021 guidance Total sales growth • Expected adverse impact of around 2% from currencies based on the level of exchange rates greater than 8.0%1 at the end of June 2021 Core operating margin • Excluding any potential impact of incremental around 32.0% investments from external innovation
Slide 15: Conclusion
Conclusion Strong financial results Drive Full-year guidance Delivering against the strategy Focus upgraded Growing total sales double-digit efficienciesDriving confidence Maximizing our brands on culture in outlook across the therapeutic areas with solid H1 results Reducing SG&A expenses to total s
Slide 16: Strong & expanding global footprint
Strong & expanding global footprint North America EU5 Rest of World 30% 33% 38% of total sales of total sales of total sales countries where countries with 30+ Ipsen presence 115+ Ipsen medicines are marketed Based on H1 2021 total sales. Due to rounding, the sum of a percentages shown does not agre
Slide 17: H1 2021: Specialty Care led the way
H1 2021: Specialty Care led the way Specialty Care Consumer Healthcare Total Sales: €1,245m Total Sales: €106m €m +11.2% €m +8.6% +5.2% -1.8% Specialty Care €2,381.1m 561 +5.9%1 +11.8% -11.2% +47.6% +29.8% +16.3% 36 +27.1% +22.9% 223 203 21 17 17 16 167 +1.5% -11.3% -7.7% 58 17 9 Somatuline Decapept
Slide 18: H1 total sales adversely impacted by foreign-exchange rates
H1 total sales adversely impacted by foreign-exchange rates Average rate changes H1 2021 sales by currency USD: 1.21 (H1 2021 vs. H1 2020) 1 -1% Other 16% -9% RUB EUR CNY 3% 40% -17% -18% 5% -21% GBP 5% -33% USD RUB BRL TRY DZD CNY 31% USD Adverse 4.5% impact: lower USD, RUB, BRL and TRY 18 (1) Incl
Slide 19: Core operating income to consolidated net profit
Core operating income to consolidated net profit H1 2021 Change €m Operating income Core Operating Income 479.8 17.0% Restructuring expenses: Consumer Healthcare Amortization of intangible assets (41.0) -6.6% transformation projects and the relocation of the Onivyde manufacturing site Restructuring
Slide 20: Oncology
Oncology Key ongoing clinical-trial highlights Trial Population Patients Design Endpoints Status Sorafenib PFS primary endpoint Cabometyx® or Primary: PFS, OS met COSMIC 312 1L HCC 740 Cabometyx + atezolizumab Secondary: PFS single-agent Phase III or Cabometyx arm Interim OS primary NCT03755791 Cabo
Slide 21: Oncology
Oncology Key ongoing clinical-trial highlights Trial Population Patients Design Endpoints Status Second novel hormonal Primary: OS, PFS Cabometyx® Recruiting therapy (abiraterone and Additional endpoints: ORR, CONTACT-02 2L CRPC 580 prednisone or enzalutamide) prostate-specific antigen Phase III Dat
Slide 22: Neuroscience
Neuroscience Key ongoing clinical-trial highlights Trial Population Patients Design Endpoints Status Mesdopetam Levodopa-induced Change in average daily hours Data anticipated Phase IIb dyskinesia in 140 Mesdopetam or placebo of ON-time1 without 2022 NCT04435431 Parkinson’s disease troublesome dyski
Slide 23: Rare Disease
Rare Disease Key ongoing clinical-trial highlights Trial Population Patients Design Endpoints Status Primary: annualized change in Active, not recruiting Palovarotene Palovarotene - 5mg QD and new HO volume MOVE FOP upon flare-up, 20mg QD for Secondary: subjects with new 107 Q2 2021 Phase III (chron
Slide 24: Investor Relations contacts
Craig Marks Vice President, Investor Relations +44 7564 349 193 craig.marks@ipsen.com Adrien Dupin de Saint-Cyr Investor Relations Manager +33 6 64 26 17 49 adrien.dupin.de.saint.cyr@ipsen.com 24
Slide 25: pliving with fibrodysplasia
pliving with fibrodysplasia ossificans progressiva Berlin, Germany SIPSEN —* Innovation for patient care