Investor at a glance and objectives


Investors at a glance

2017 was a record year for Ipsen

Our top-line sales growth and bottom-line performance in 2017 were better than they have ever been – and our pipeline is stronger than ever.

  • In 2017, we saw double-digit growth in Europe and impressive growth of almost 75% in North America
  • Specialty Care sales growth was up by nearly 26%, reflecting the strong momentum of Somatuline and our new launches Cabometyx and Onivyde.
  • Dysport had a strong year with 14% year-on-year growth
  • Our oncology business was up by over 32%.
  • Our core operating income showed a 38% increase, while our core operating margin was greater than 26% of sales.
  • Our Consumer Healthcare business is also back to growth, with an increase in sales of 1.4%, a trend that is set to continue in 2018.
  • We are now one of the world’s top 20 biopharmaceutical companies in terms of oncology sales
  • We are well on track to meet our 2020 objective for group sales of over €2.5 billion
  • We’ve added new phase II and III programs in oncology.
  • We advanced our peptide receptor radionuclide therapy (PRRT) program into phase II in 2017.
  • We are also advancing our next generation fast-acting and short-acting toxins, which uses recombinant technology and is now being administered to humans for the first time ever.



Aymeric Le Chatelier

“We are focused on accelerating our sales growth while improving our profitability and cash flow generation, in order to further invest in business development to build an innovative and sustainable pipeline and to maintain the growth momentum of the business.”

Aymeric Le Chatelier, CFO




2018 financial objectives*

Following the strong performance in the first half of 2018, the Group raises its financial targets for the full year 2018:

  • Group sales growth of greater than +19.0%, based on the strong momentum of the Specialty Care business. Sales growth at current exchange rates should still be negatively impacted by approximately 4.0% based on the current level of exchange rates;
  • Core operating margin of around 29.0% of sales



Previous guidance

Updated guidance

Group sales growth  >+16.0%  >+19.0%
Core Operating margin >28.0% around 29.0%


2020 outlook

On May 11, 2017, the Group updated financial guidance for 2020 to reflect the contribution of the acquisitions announced in early 2017, the change of definition of Core Operating Income (to exclude the amortization of intangible assets and the gain or loss on disposal of fixed assets) and the strong performance of the Specialty Care business over the last 15 months.

  • Sales in excess of 2.5 billion euros;
  • Core operating margin greater than 30% .

This guidance includes the contribution from the recent 2017 acquisitions and excludes the impact from any further business development (other than development costs associated with potential new early to mid-stage R&D assets). It also covers the impact from potential Somatuline® competitive threats


*Sales objectives are set at constant currency