Ipsen Sa S/Adr (IPSEY) Q2 2026 Earnings Call

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WEBVTT 00:00:00.071 -- 00:00:05.553 Hello and welcome to the Ibsen's conference call and webcast on H1 2026 00:00:05.553 -- 00:00:10.516 results. I'll now hand you over to David Loew, Ibsen's CEO. 00:00:10.516 -- 00:00:15.718 Thank you, operator. Good afternoon, everyone, and thank you for joining Ibsen's H1 2026 00:00:15.718 -- 00:00:20.420 results presentation. Today, we will review our first half performance, the progress 00:00:20.420 -- 00:00:23.342 we are making across the business and the key milestones ahead. 00:00:23.342 -- 00:00:28.679 Please turn to slide two. Before we begin, please take note of the forward-looking statement 00:00:28.679 -- 00:00:32.860 and risk factors described on this slide. Unless otherwise stated, gross comments during 00:00:32.860 -- 00:00:35.561 the presentation are at constant exchange rates. 00:00:35.561 -- 00:00:39.762 Please turn to slide three. I will start with the business update. 00:00:39.762 -- 00:00:42.063 Aymeric will then cover the financial update. 00:00:42.063 -- 00:00:46.204 Christelle will take you through the R&D progress, and Mari will cover the commercial 00:00:46.204 -- 00:00:51.346 updates. I will then return for the conclusion before we open the call for questions. 00:00:51.346 -- 00:00:56.738 Please turn to slide four. Let me start with a business update, slide five. 00:00:56.738 -- 00:01:01.761 The first half of 2026 was marked by excellent financials and progress on our 00:01:01.761 -- 00:01:06.884 strategy to accelerate growth of key medicines and expand the pipeline. 00:01:06.884 -- 00:01:11.107 We posted strong numbers with total sales growth at 23.5% at constant exchange rates 00:01:11.107 -- 00:01:13.927 and a 38.6% core operating margin. 00:01:17.406 -- 00:01:22.451 The late stage pipeline is deliverin...