Ipsen Sa S/Adr (IPSEY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. I'm delighted to welcome you this afternoon to our H1 2025 results presentation, which can also be found on Ibsen.com. I want to use the time we have together to focus on the progress Ibsen delivered in the first half of 2025 and all the future opportunities and platforms for growth. Please turn to slide two. Please take note of our forward-looking statements, which outline the routine risks and uncertainties contained within this presentation. Also, All my comments on growth will be based on constant exchange rates. Please turn to slide three. I'm going to take you through the presentation of our latest business update, followed by Christelle Hügge, head of research and development, who will provide an R&D update, while our CFO, Aymeric Le Chatelier, will take you through the financials. At the end of the presentation, all three of us will be participating in the question and answer session. Let's begin by looking at today's highlight. Please turn to slide four. Turn to slide five. Today's headlines illustrate how we are continuing to produce sustainable growth. Total sales grew by 11.4% in the first half of 2025, accompanied by a core operating margin of 36%. As you have seen, we announced last week the European Commission approval of Covometics in neuroendocrine tumors, an area where Ipsen has a strong legacy. During this first half, we also made good progress with our pipeline, including the entry in phase two of IPN 10-200, our long-acting neurotoxin AD, in cervical dystonia. This milestone highlights the fourth study in the global long-acting neurotoxin development plan in therapeutic and aesthetic indications. Pipeline progress also came in form of the EMEA regulatory submission of tovorafenib for pediatric low-grade glioma earlier in the year...