Slide 1: FY 2020 Results
FY 2020 Results February 11, 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: Agenda
Agenda 01 FY 2020 Business overview David Loew Chief Executive Officer FY 2020 Financial performance Aymeric Le Chatelier 02 2021 Guidance Chief Financial Officer 03 Conclusion David Loew David Loew 04 Q&A Aymeric Le Chatelier 3
Slide 4: FY 2020 Business overview
01 FY 2020 Business overview
Slide 5: Our Vision
Our Vision To be a leading global mid-size biopharmaceutical company with a focus on transformative medicines in oncology, rare disease & neuroscience
Slide 6: Focus. Together. For patients & society.
Focus. Together. For patients & society. Bring the full potential of Group sales growth of +3.0%1 our innovative medicines reaching €2,592m, driven by Specialty Care growth of +5.9%1 to patients Build a high-value Advancing late-stage pipeline sustainable pipeline resulting in upside potential for C
Slide 7: Oncology resilience driving Specialty Care growth
Oncology resilience driving Specialty Care growth +8.5%1 1,844 1,970 +8.5%1 sales growth despite COVID-19 123 135 Oncology 76% of Group sales 289 242 391 Somatuline sales +13%1, driven by market share gains worldwide 407 • North America: +17% • Ex-NA: +8%, despite entrance of octreotide generics in
Slide 8: Neuroscience negatively impacted by COVID-19
Neuroscience negatively impacted by COVID-19 -3.3%1 sales decrease Neuroscience 14% of Group sales -3.3%1 Dysport market share maintained across geographies Weakness across neurotoxin market due to COVID-19 • Therapeutics market impacted by center closures and fewer 391 356 injections • Stronger rec
Slide 9: Rare Disease: Palovarotene program on track
Rare Disease: Palovarotene program on track Palovarotene • On track to file with FDA and EMA in H1 2021 • Most patients > 14 years of age re-initiated on therapy in both the ongoing Phase II extension and Phase III MOVE trials • Launch preparations ongoing IPN60130 (BLU-782) – Phase II program plann
Slide 10: Consumer Healthcare significantly impacted by COVID-19
Consumer Healthcare significantly impacted by COVID-19 -21.3%1 -21.3%1 sales decrease CHC 8% of Group sales 36 37 27 Smecta sales -33%1 impacted by social distancing and less travel, 37 28 China hospital central procurement policy and generic competition 42 35 in France 39 Tanakan sales +1%1 driven
Slide 11: Advancing pipeline
Advancing pipeline Pipeline end of 2020 Pre-clinical Phase I Phase II Phase III Registration Pan-RAFi/IRICoR Cabometyx® + atezolizumab IPN60130 Cabometyx® + atezolizumab Cabometyx® + nivolumab Solid tumors (BLU-782) FOP2 1L HCC 1L RCC IPN59011 Cabometyx® + atezolizumab Dysport® solution ERKi/AGV Lon
Slide 12: Priority to execute on external innovation strategy
Priority to execute on external innovation strategy Prioritizing as Group objective with a refined and disciplined approach Targeting small to mid-sized transactions across three core therapeutic areas Strengthening team to broaden scope & geographical footprint Executing on transactions with firepo
Slide 13: FY 2020 Financial performance, FY 2021 Guidance
02 FY 2020 Financial performance FY 2021 Guidance
Slide 14: Investments reflect strategy to focus and optimize resources
Investments reflect strategy to focus and optimize resources In €m FY 2020 FY 2019 % Change Net sales 2,591.6 2,576.2 0.6% COGS: Favorable product mix offset by an increase of royalties Other Revenues 94.5 116.5 -18.9% COGS (490.6) (488.0) 0.5% Selling expenses: Initiatives to optimize as % of net s
Slide 15: Operating leverage driving core operating margin expansion
Operating leverage driving core operating margin expansion Core Operating Income margin expansion to 32% of net sales -0.6pts Group margin expansion driven by Specialty Care growth, including -0.6pts +0.2pts COVID-19 related savings and R&D +2.5pts investments to support growth Consumer Healthcare l
Slide 16: Core Operating Income to Consolidated Net Profit
Core Operating Income to Consolidated Net Profit In €m FY 2020 FY 2019 Change Core Operating Income 829.3 782.6 +6.0% Operating Income Impairment loss of €154 million before tax mainly related Core Operating margin 32.0% 30.4% +1.6pts to the termination of MO-PED trial, Systemic Radiation Therapy, s
Slide 17: Strong Cash Flow generation to fund external innovation strategy
Strong Cash Flow generation to fund external innovation strategy Strong 2020 Free Cash Flow at €646m (+38% versus FY 2019) • Solid EBITDA of €933m (+7%) • Reduction in capital expenditures and working capital and lower Solid financial position to financing costs fuel external innovation Net Debt at
Slide 18: 2021 guidance
2021 guidance Sales growth • Expected impact of -3.0% from currencies based on the level of exchange rates at the end of > +4.0% at constant currency January 2021 Core Operating margin • Excluding any potential impact of incremental > 30.0% of net sales investments from external innovation Key assum
Slide 19: Conclusion
Conclusion SIPSEN
Slide 20: 2021 Objectives
2021 Objectives Maximize our brands Strengthen pipeline Drive efficiencies Focus on culture • Capture full potential of • Execute on external • Focus on high impact • Develop and retain core products and innovation strategy with activities and leverage highly-engaged talent innovative oncology a ref
Slide 21: Thank you
Ronny Living with neuroendocrine tumors Ringwood, UK Thank you
Slide 22: FY 2020 sales growth driven by Specialty Care
FY 2020 sales growth driven by Specialty Care Net sales of key products in FY 2020 in million euros – % excluding foreign Group sales exchange impact €2,591.6m +3.0%1 Specialty Care Somatuline® 1,145 +13% Decapeptyl® 391 -3% Cabometyx® 289 +21% Specialty Care Onivyde® 123 -7% €2,381.1m Dysport® 353
Slide 23: FY 2020 sales negatively impacted by foreign exchange rates
FY 2020 sales negatively impacted by foreign exchange rates (1) Includes RUB, BRL, AUD, PLN and other currencies 23
Slide 24: Oncology ongoing clinical trial highlights
Oncology ongoing clinical trial highlights Trial Population Patients Design Endpoints Status Addressable population in Ipsen territories Cabometyx 1L HCC 740 cabozantinib 40 mg oral, qd + Primary: PFS, OS Recruiting ~26K patients (ex- Phase 3 COSMIC 312 atezolizumab 1200 mg infusion, q3w China)
Slide 25: Oncology ongoing clinical trial highlights
Oncology ongoing clinical trial highlights Trial Population Patients Design Endpoints Status/ Other Onivyde 1L PDAC 750 Arm 1: Onivyde (nanoliposomal Primary: OS Recruiting/ ~28K Phase 3 NAPOLI 3 irinotecan) + 5-FU/LV + oxaliplatin Secondary: PFS, ORR addressable patients in NCT04083235 Arm
Slide 26: Rare Diseases ongoing clinical trial highlights
Rare Diseases ongoing clinical trial highlights Trial Population Patients Design Endpoints Status Addressable population in Ipsen territories Palovarotene FOP (chronic) 90 Palovarotene - 5 mg once Primary: Change Dosing restarted in ~9K WW based on Phase 3 MOVE daily and upon flare-up, 20 in HO