Ipsen has delivered a dynamic start to 2026, reporting revenue growth of 22.6% at constant exchange rates (17% on a reported basis). This performance was driven by its three core therapeutic areas.
Total revenue for the period reached 1.074 billion euros. Oncology generated 707.5 million euros (+8%), Rare Diseases surged 109.1% to 147.1 million euros, and Neuroscience grew by 13.8% to 220.3 million euros. Excluding Somatuline, the portfolio showed significant acceleration, rising 27.5% at constant exchange rates.
CEO David Loew highlighted that "Ipsen has achieved an excellent start to 2026." He emphasized execution in line with strategic priorities, combining solid financial results with R&D progress. He specifically noted the growth of the rare liver disease franchise, driven by Iqirvo and Bylvay, as well as the preparation for major milestones across several pipeline products.
Guidance confirmed, including a 35% operating margin
Ipsen has reaffirmed its 2026 targets: sales growth exceeding 13% at constant exchange rates and an operating margin above 35% of revenue. The group also anticipates several key R&D milestones, including Phase III results for Iqirvo and Bylvay, along with new data for other candidates.
In parallel, Ipsen is strengthening its pipeline in rare neurodegenerative diseases through a partnership with Origami Therapeutics. The group also announced the voluntary withdrawal of Tazverik following new safety data, and reported the conditional authorization of Ojemda for pediatric low-grade glioma based on a Phase II study. Ipsen remains confident in its ability to sustain growth despite the inherent risks of pharmaceutical research and market volatility.
Ipsen specialises in the research, development, manufacture and marketing of specialty medicines. Net sales by therapeutic area break down as follows:
- oncology (69.2%);
- neuroscience (20.3%);
- rare diseases (10.5%).
At the end of 2025, the group had 7 research and development centers located in France (2), the United Kingdom (2), China (2) and Ireland, and 5 manufacturing sites worldwide.
Net sales are distributed geographically as follows: France (8%), Europe (31.7%), the United States (32.9%), North America (2.2%) and other (25.2%).
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