Slide 1: H1 2022 results
SIPSEN Innovation for patient care H1 2022 results [potential of ‘our innovative medicines to patients DELIVER efficiencies to er targeted investn BUILD a high-value sustainable pipeline
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: Speakers
Speakers David Aymeric Howard LOEW LE CHATELIER MAYER Chief Executive Officer Chief Financial Officer Head of Research and Development (for Q&A) 3
Slide 4: Agenda
Agenda 1 Business overview 2 Financial performance Guidance 3 Conclusion 4 Questions 4
Slide 5: Business overview
David Loew Business overview 5 © Ipsen 2020 / S Alexandrov / CAPA Pictures
Slide 6: H1 2022: headlines
H1 2022: headlines Successfully executing our strategy Total-sales growth: +10.5% at CER Strong financial results1 Core operating margin: 39.6%, +2% pts2 Continuing the replenishment Acquisition of Epizyme: of the portfolio & pipeline expanding the portfolio and pipeline in oncology Closing of trans
Slide 7: Strong performances from key growth platforms of +19.5%
Strong performances from key growth platforms of +19.5% €212m €242m €265m €83m +25.4% +15.5% +15.9% +30.4% • Strong volume • Strong • Share gains in • Further share uptakes in RCC performance Europe and RoW gains in the U.S. across Ax and Tx • Launches of the • Slower growth in • Increased sales to
Slide 8: Somatuline: sales growth of +1.1% to €600m
Somatuline: sales growth of +1.1% to €600m A robust performance; increasing levels of competitive activity NORTH AMERICA EUROPE REST OF WORLD €332m €207m €61m -0.1% -4.0% +33.7% • Demand growth driven • Continued market-share • Strong performances in by market-share gains gains in markets with no al
Slide 9: Expanding the portfolio and pipeline
Expanding the portfolio and pipeline Acquisition of Epizyme Tazverik − U.S. on-market compound with good patent life leveraging Ipsen’s existing in-market presence − Compelling clinical data at ASCO with potential for new indications − $150-250m sales based on current indication and $800m of peak sa
Slide 10: Divestment of Consumer HealthCare completed
Divestment of Consumer HealthCare completed Ipsen: focused on Specialty Care Agreement − Closure of transaction: divesting CHC business to Mayoly Spindler Financials − Consideration of €350m Includes an earnout contingent payment of €50m Executing the roadmap − A major step forward in the executio
Slide 11: Building a high-value sustainable pipeline
Building a high-value sustainable pipeline Phase I Phase II Phase III Registration Cabometyx + atezolizumab IPN60130 Cabometyx + atezolizumab palovarotene Solid tumors FOP 2L NSCLC FOP IPN59011 mesdopetam Cabometyx + atezolizumab Longer-acting neurotoxin PD-LID 2L mCRPC Ax IPN10200 Onivyde Longer-ac
Slide 12: Pipeline: next milestones
Pipeline: next milestones H2 2022 Cabometyx + atezolizumab: 2L NSCLC Phase III data readout Onivyde: 1L PDAC and 2L SCLC Phase III data readouts mesdopetam: PD-LID Phase IIb data readout palovarotene: FOP regulatory decision - U.S. 2023 Cabometyx + atezolizumab: 2L mCRPC Phase III data readout elafi
Slide 13: People, Environment, Patients, Governance
Environment People 20% 7% 45% 21 countries Carbon emissions Additional greenhouse- Women leaders in the Employer of choice decline vs. H1 2021 gas emissions reduction Global Leadership Through the decline of Team fossil-fuel usage Patients Governance Ukraine Access to Anti-bribery Patient support an
Slide 14: Financial performance and guidance
Financial performance and guidance Aymeric Le Chatelier © Ipsen 2021 / Hamid FADAVI / Option K 14
Slide 15: H1 2022 financial highlights
H1 2022 financial highlights Total sales €1,434m +10.5%1 Core operating income €568m +21.8% Core operating margin2 39.6% +2.1 pts Core EPS3 €5.06 +20.4% Free cash flow €339m +17.3% 1. Total-sales growth is at constant exchange rates; all other growth rates are at actual exchange rates. 2. As a ratio
Slide 16: Core P&L: leveraging strong sales growth
Core P&L: leveraging strong sales growth €m H1 2022 H1 2021 % change Total sales Total Sales 1,433.7 1,244.5 15.2% Positive impact from currencies Other revenue 64.2 51.9 23.8% Cost of goods sold (242.1) (203.5) 18.9% Other revenue Gross Profit 1,255.9 1,092.8 14.9% Growth in royalties received from
Slide 17: Cash flow and net debt
Cash flow and net debt € millions H1 2022 H1 2021 Change Opening Net Debt (126.4) (525.3) 398.8 Free cash flow 339.0 289.1 49.9 Dividend (100.2) (83.1) (17.1) Net investments (101.9) 8.8 (110.7) Other (share buyback, FX, discontinued) (12.8) (26.1) 13.3 Change in net cash 124.1 188.7 (64.6) Closing
Slide 18: FY 2022 guidance
FY 2022 guidance Upgrading expectations for total sales and core operating margin Total-sales growth greater than x.0% at constant exchange rates Total-sales growth Core operating margin Guidance greater than greater than 36.0% assumptions 7.0% at constant of total sales exchange rates Core operatin
Slide 19: Conclusion
David Loew Conclusion 19 © Ipsen 2019 / Pguimaraes / CAPA Pictures
Slide 20: Conclusion: Successfully executing on our strategy
Conclusion Successfully executing on our strategy Drive Focus Delivering Advancing pipeline: Focusing on strong results efficienciesexternal innovation key milestones on culture Top-line growth and Encouraging developments Significant and growing expanded core operating margin for palovarotene firep
Slide 21: Questions
Questions 21 © Ipsen 2019 / Adam Wiseman/ CAPA Pictures
Slide 22: Appendix
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Slide 23: A strong and expanding global footprint
A strong and expanding global footprint NORTH AMERICA EUROPE REST OF WORLD 33% 44% 23% of total sales of total sales of total sales countries with Ipsen countries where Ipsen 30+ presence 100+ medicines are marketed Based on H1 2022 total sales. Europe is defined as the E.U., the U.K., Iceland, Liec
Slide 24: H1 2022 total sales and growth rates by medicine
H1 2022 total sales and growth rates by medicine €1,434m €m +1.1% 600 +10.5% Oncology Neuroscience +15.9% +15.5% 265 +25.4% 242 212 +30.4% -7.3% 83 31 Somatuline Decapeptyl Dysport Cabometyx Onivyde Other All growth rates are at constant exchange rates. 24
Slide 25: H1 2022 total sales: favorable impact of FX rates
H1 2022 total sales: favorable impact of FX rates +4.7% H1 2022 sales by currency Average EUR rate changes (H1 2022 vs. H1 2021) (USD: 1.09) (CNY: 7.08) (BRL: 5.56) (GBP: 0.84) (RUB: 86.23) (TRY: 16.24) Other1 17% 14% 3% 4% 9% 9% CNY EUR 4% 35% RUB 4% GBP 5% -71% USD CNY BRL GBP RUB TRY 35% USD 1. I
Slide 26: Core operating income to consolidated net profit
Core operating income to consolidated net profit H1 2022 H1 2021 % change €m €m Core Operating Income 568.0 466.3 +21.8% Amortization of intangible assets (46.6) (39.5) +18.0% Restructuring and other operating income/(expense) (10.2) (27.2) -62.5% IFRS Operating Income 511.2 399.7 +27.9% Net financi
Slide 27: Oncology
Oncology Key ongoing clinical-trial highlights Trial Population Patients Design Endpoints Status Cabometyx Docetaxel Primary: OS CONTACT-01 or Data anticipated 2L NSCLC 366 Secondary: PFS, ORR, Phase III Cabometyx + H2 2022 DoR NCT04471428 atezolizumab Second novel hormonal therapy (abiraterone and
Slide 28: Oncology
Oncology Key ongoing clinical-trial highlights Trial Population Patients Design Endpoints Status Onivyde Nab-paclitaxel + Primary: OS NAPOLI-3 gemcitabine or Data anticipated 1L PDAC 750 Secondary: PFS, ORR, Phase III Onivyde + 5-FU/LV + H2 2022 safety NCT04083235 oxaliplatin Onivyde Topotecan Prima
Slide 29: Rare Disease
Rare Disease Key ongoing clinical-trial highlights Trial Population Patients Design Endpoints Status Primary: annualized change in Palovarotene - 5mg QD Regulatory decisions Palovarotene new HO volume and upon flare-up, anticipated: MOVE FOP Secondary: subjects with new HO, 107 20mg QD for 28 days,
Slide 30: Neuroscience
Neuroscience Key ongoing clinical-trial highlights Trial Population Patients Design Endpoints Status Levodopa-induced Mesdopetam Change in average daily hours of dyskinesia in Mesdopetam or Data anticipated Phase IIb 140 ON-time1 without troublesome Parkinson’s placebo H2 2022 NCT04435431 dyskinesia
Slide 31: Thank you
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Slide 32: 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 32
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