Ipsen SA (CHIX:IPNp)

€ 105.6 -0.45 (-0.42%) Market Cap: 8.81 Bil Enterprise Value: 8.56 Bil PE Ratio: 25.64 PB Ratio: 2.10 GF Score: 86/100

Full Year 2024 Ipsen SA Earnings Call Transcript

Feb 13, 2025 / 12:00PM GMT

Release Date Price: €114.95 (-3.00%)

Transcript

Key Points

Positve

Ipsen SA (IPSEF) reported a 9.9% increase in total sales for 2024, driven by strong performance in their ex-somatuline portfolio.
The company achieved a core operating margin of 32.6%, reflecting efficient cost management and strong sales performance.
Ipsen SA (IPSEF) received a positive FDA decision for ONIVYDE in first-line pancreatic ductal adenocarcinoma, with subsequent approvals in the US and EU.
The company anticipates significant pipeline milestones in 2025, including potential approvals for Cabometyx in neuroendocrine tumors and Tovorafenib in Europe.
Ipsen SA (IPSEF) has a strong balance sheet with no debt and EUR 2.3 billion available for external innovation, indicating financial stability and capacity for growth.

Negative

Ipsen SA (IPSEF) faces increased competition and pricing pressure for Cabometyx in Europe and China, impacting sales growth.
The company recognized an impairment loss of EUR 281 million related to Sohonos due to lower-than-anticipated patient uptake.
Somatuline is expected to face accelerated erosion due to increased generic competition, impacting profitability.
The aesthetics market in the US is experiencing some softening, which could affect future growth prospects for Dysport.
Ipsen SA (IPSEF) anticipates a contraction in core operating profit margin in 2025 due to increased R&D expenses and competitive pressures.

Operator

Hello, and welcome to Ipsen's conference call and webcast on full year 2024 results. I'll now hand you over to David Loew, Ipsen's CEO.

David Loew

Ipsen SA - Chief Executive Officer, Director

Thank you, operator, and hello, everyone. I'm delighted to welcome you to our presentation this afternoon, which can also be found on ipsen.com.

I want to use the time we have together to focus on the progress Ipsen delivered in 2024 and on the future opportunities and platforms for growth. Please turn to Slide 2. Please take a note of our forward-looking statements, which outlines the routine risks and uncertainties contained within this presentation.

Also, any of my commentary on growth will be based on the exchange rates. Please turn to Slide 3. I'm going to take you through our brief presentation of our performance, followed by our CFO, Aymeric Le Chatelier, who will provide you an update on the financials and our Head of Research and Development, Christelle Huguet, who will focus on the progress and the key milestones of our pipeline. At the end of

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