Ipsen : YTD 2023 – sales presentation (1.04 MB)

John

Living with prostate cancer

Lincolnshire, U.K.

YTD 2023 sales update

26 October 2023

Focus. Together.

For patients & society.

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 statements involve known and unknown risks and uncertainties that may cause actual results, performance or events to differ materially from those anticipated in the summary information. Actual results may depart significantly from these targets given the occurrence of certain risks and uncertainties, notably given that a new medicine can appear to be promising at a preparatory stage of development or after clinical trials but never be launched on the market or be launched on the market but fail to sell notably for regulatory or competitive reasons. Ipsen must deal with or may have to deal with competition from generic medicines that may result in market-share losses, which could affect its level of growth in sales or profitability. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statements, targets or estimates contained in this presentation to reflect any change in events, conditions, assumptions or circumstances on which any such statements are based, unless so required by applicable law.
• All medicine names listed in this document are either licensed to Ipsen or are registered trademarks of Ipsen or its partners.
• The implementation of the strategy has to be submitted to the relevant staff representation authorities in each country concerned, in compliance with the specific procedures, terms and conditions set forth by each national legislation.
• In those countries in which public or private-health cover is provided, Ipsen is dependent on prices set for medicines, pricing and reimbursement-regime reforms and is vulnerable to the potential withdrawal of certain medicines from the list of reimbursable medicines by governments, and the relevant regulatory authorities in its locations.
• Ipsen operates in certain geographical regions whose governmental finances, local currencies or inflation rates could erode the local competitiveness of Ipsen's medicines relative to competitors operating in local currency, and/or could be detrimental to Ipsen's margins in those regions where Ipsen's sales are billed in local currencies.
• In a number of countries, Ipsen markets its medicines via distributors or agents; some of these partners' financial strengths could be impacted by changing economic or market conditions, potentially subjecting Ipsen to difficulties in recovering its receivables. Furthermore, in certain countries whose financial equilibrium is threatened by changing economic or market conditions, and where Ipsen sells its medicines directly to hospitals, Ipsen could be forced to lengthen its payment terms or could experience difficulties in recovering its receivables in full.
• Ipsen also faces various risks and uncertainties inherent to its activities identified under the caption 'Risk Factors' in the Company's Universal Registration Document.
• All of the above risks could affect Ipsen's future ability to achieve its financial targets, which were set assuming reasonable macroeconomic conditions based on the information available today.

2

Speakers

	For Q&A
David Loew	Aymeric Le Chatelier
Chief Executive Officer	Chief Financial Officer

3

Highlights

On track for full-year delivery

Growth momentum

Pipeline progress

YTD total-sales +7.1%	Sohonos: FOP
Q3: +6.5%	U.S. regulatory approval
Growth platforms up by 16.1% YTD	Cabometyx + atezolizumab: 2L mCRPC
driven by Dysport and Cabometyx	PFS primary endpoint met
Further contributions from new medicines	Odevixibat: ALGS
Bylvay, Tazverik & Sohonos	Resubmission: new brand name (E.U.)
	Elafibranor: PBC
	Late-breaker session at AASLD

FY 2023 guidance confirmed

Total-sales growth greater than 6.0%, at constant exchange rates

Core operating margin greater than 30% of total sales

All growth rates are at constant exchange rates. Based on the average level of exchange rates in September 2023, an adverse impact on total sales of around 3.5% from currencies is expected in 2023. YTD: nine months to 30 September 2023; growth platforms: Dysport, Decapeptyl, Cabometyx &

Onivyde; FOP: fibrodysplasia ossificans progressiva; 2L: second line; mCRPC: metastatic castration-resistant prostate cancer; PFS: progression-free4 survival; ALGS: Alagille syndrome; PBC: primary biliary cholangitis; AASLD: American Association for the Study of Liver Diseases.

Sales performance

Growth platforms performing well; contributions from new medicines

			YTD 2023		Q3 2023
			€m	change	€m	change
Dysport			482	24.7%	163	13.4%
Decapeptyl	407	5.5%	130	4.5%
Cabometyx			398	24.4%	132	20.8%
Onivyde	120	-0.3%	43	17.5%
Growth platforms			1,407	16.1%	467	13.1%
Bylvay	46	n/a	23	n/a
Tazverik			28	n/a	9	n/a
Sohonos	3	n/a	2	n/a
New medicines			77	n/a	34	n/a
Somatuline	788	-12.0%	259	-12.0%
Other			38	-18.0%	12	-21.2%
Total Sales	2,309	7.1%	772	6.5%

All growth rates are at constant exchange rates. Due to rounding, the sum of euro values may not agree to totals.

5

Growth platforms

Q3 sales up by a combined 13.1%

Q3

Q3

Q3

Q3

+13.4%

+20.8%

+4.5%

+15.9%1

Strong underlying		Strong volume uptakes		China-market growth		Continued share growth in
aesthetic & therapeutics		across most		impacted by adverse		U.S. in post-gemcitabine
performance		geographies		economic conditions		setting
Challenging		Adverse shipment phasing		Growth in Europe		Launch preparations ahead
baseline effect:		in Rest of World		affected by increased		of 1L PDAC decision
sales to aesthetics partner				competitor activity

YTD

+24.7%

YTD

+24.4%

YTD

+5.5%

YTD

+18.2%1

All growth rates are at constant exchange rates.
1. North America only; excludes sales to ex-U.S. partner.	6
Growth platforms: Dysport, Decapeptyl, Cabometyx & Onivyde; 1L: first line; PDAC: pancreatic ductal adenocarcinoma.

Somatuline sales: continuing to decline gradually

Sales growth

Q1	Q2	Q3	Q4	Q1	Q2	Q3
2022	2022	2022	2022	2023	2023	2023

YTD -12.0%

Q3: -12.0%

North America -18.2%

• Ongoing adverse pricing
• Market share holding up well

Europe -8.8%

• Shallower sales decline
• Reduced baseline: 12 months after generic launch in key countries

Rest of World +16.4%

• Continued strong growth, despite launch of a generic in Australia

All growth rates are at constant exchange rates.	7
In this presentation, Europe is defined as the E.U., the U.K., Iceland, Liechtenstein, Norway and Switzerland.

New medicines: YTD 2023 sales

YTD €46m

YTD €

28m

YTD

€3m

Q3 launch in second indication

Relaunch

Recent launch in the U.S.: first &

in U.S. (ALGS)

progressing

only treatment for patients with FOP

Increasing number

Growing commercial demand

Sales from special-licence sales

of treated PFIC patients in

driven by increasing prescriptions

in some ex-U.S. markets

North America and Europe

in community setting

All growth rates are at constant exchange rates.
ALGS: Alagille syndrome; PFIC: progressive familial intrahepatic cholestasis; FOP: fibrodysplasia ossificans progressiva.	8

Building high-value, sustainable pipeline

Phase I	Phase II
IPN60210	TAZVERIK
R/R multiple myeloma	(+ hormonotherapy)
& R/R DLBCL	mCRPC
IPN60260	FIDRISERTIB
Viral cholestatic disease	FOP
	ELAFIBRANOR
	PSC
	IPN60250
	PSC
	MESDOPETAM
	PD-LID
	IPN10200
Oncology	Longer-acting neurotoxin
Ax
Rare Disease
IPN10200
Neuroscience	Longer-acting neurotoxin
	Tx

Phase III

CABOMETYX +

ATEZOLIZUMAB

2L mCRPC

TAZVERIK + R2

2L FL

ELAFIBRANOR

2L PBC

BYLVAY

Biliary atresia

Dysport

Chronic & episodic migraine

Registration

ONIVYDE + 5-FU/LV +

OXALIPLATIN

1L PDAC

BYLVAY

Alagille syndrome

Information shown as at end of September 2023. R/R: relapsed/refractory; DLBCL: diffuse large B-cell lymphoma;

mCRPC: metastatic castration-resistant prostate cancer; FOP: fibrodysplasia ossificans progressiva;

PSC: primary sclerosing cholangitis; Ax: aesthetics; Tx: therapeutics; 2L: second line; R2: lenalidomide + rituximab;

FL: follicular lymphoma; PBC: primary biliary cholangitis; 1L: first line; PDAC: pancreatic ductal adenocarcinoma.

9

Conclusion

Sustained strategic success

DIARY DATES

GROWTH	PIPELINE
MOMENTUM	PROGRESS	14 November

ELATIVE Phase III trial results

at AASLD

Growth platforms	A number of
continuing to perform well	milestone successes
Increasing contribution	Multiple launches expected
from new medicines	in next 12 months

Q&A: webcast/call

7 December

Capital-markets day

Webcast / in-person (London)

On track for continued delivery