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

Investor webinar replay

Replay transcript excerpt

Hello and welcome to the Ibsen's conference call and webcast on H1 2026 results. I'll now hand you over to David Loew, Ibsen's CEO. Thank you, operator. Good afternoon, everyone, and thank you for joining Ibsen's H1 2026 results presentation. Today, we will review our first half performance, the progress we are making across the business and the key milestones ahead. Please turn to slide two. Before we begin, please take note of the forward-looking statement and risk factors described on this slide. Unless otherwise stated, gross comments during the presentation are at constant exchange rates. Please turn to slide three. I will start with the business update. Aymeric will then cover the financial update. Christelle will take you through the R&D progress, and Mari will cover the commercial updates. I will then return for the conclusion before we open the call for questions. Please turn to slide four. Let me start with a business update, slide five. The first half of 2026 was marked by excellent financials and progress on our strategy to accelerate growth of key medicines and expand the pipeline. We posted strong numbers with total sales growth at 23.5% at constant exchange rates and a 38.6% core operating margin. The late stage pipeline is delivering with three positive phase three readouts and three late stage trials underway. The pipeline has been further bolstered as we announced two later stage clinical acquisitions. Finally, based on this strong first half performance, we are upgrading our 2026 guidance. Aymeric will provide more details in this section. Slide six. Turning to sales performance, total sales reached 2.2 billion in the first half, growing 23.5% at constant exchange rates. All three therapeutic areas contributed positively. Oncology grew 15.6%, rare ...