Total sales growth of 11.6% at CER1, or 11.7% as reported, driven by all three therapeutic areas and including an increasing contribution from Iqirvo and Bylvay.Tovorafenib regulatory submission to EMA2 for pediatric low-grade glioma.Confirmation of full-year 2025 financial guidance. PARIS,…
We are a global biopharmaceutical company with a focus on bringing transformative medicines to patients in three therapeutic areas: Oncology, Rare Disease and Neuroscience. Our pipeline is fueled by internal and external innovation and supported by nearly 100 years of development experience and global hubs in the U.S., France and the U.K. Our teams in more than 40 countries and our partnerships around the world enable us to bring medicines to patients in more than 100 countries. Ipsen is listed in Paris (Euronext: IPN) and in the U.S. through a Sponsored Level I American Depositary Receipt program (ADR: IPSEY).
IPSEN IN BRIEF
Our vision is to be a leading global mid-sized biopharmaceutical company with a focus on transformative medicines in Oncology, Rare Disease and Neuroscience. Discover Ipsen in two pages; our products and key figures, our objectives and our strategy.
If you are experiencing difficulties registering for the investor and analyst conference call, please contact: khalid.deojee@ipsen.com
Cholestatic liver diseases are a rare but significant group of conditions that impact both children and adults. Three such conditions—Primary Biliary Cholangitis (PBC), Progressive Familial Intrahepatic Cholestasis (PFIC), and Alagille Syndrome (ALGS)—share commonalities yet are unique in their causes, manifestations, and challenges for patients and their families. Understanding these diseases is crucial for better diagnosis, treatment, and overall care.
PBC is a rare, autoimmune, cholestatic liver disease with increasing prevalence worldwide. In people with PBC, the body attacks and gradually destroys the liver’s small bile ducts.2 If left untreated, bile and toxins may build-up (cholestasis), leading to scarring of the liver (cirrhosis) and eventual liver failure.1,2,3
This retention causes liver damage, symptoms like fatigue and intense itching. PBC is often underdiagnosed due to its subtle symptoms, making early recognition and intervention essential for managing the disease.
PFIC on the other hand, refers to a set of rare genetic conditions where the liver has difficulties releasing bile acid needed to digest fats and oils. The build up of bile can cause great harm to the liver, potentially leading to liver failure.4 Although PFIC can presentitself later in life, it generallymanifests and is mostaggressive in infants andyoung children.5
ALGS is an inherited condition that can affect the liver, heart, brain, blood vessels and bones.6 Children with these conditions often require nutritional support and face frequent medical visits, impacting their schooling and social development.
Despite their differences, these diseases share important commonalities. A key symptom across all of them is pruritus (itching), which can be overwhelming, especially in children. For people living with these diseases, the itch is far more than a mild irritation; it can be all-consuming, disrupting daily life and causing significant distress. In addition, fatigue is also a symptom that causes great burden particularly for people living these conditions, with many experiencing debilitating tiredness that affects concentration and social interactions.
Ipsen is committed to raising awareness of rare cholestatic liver diseases and improving outcomes for people living with these conditions and their families. Advances in medical research are leading to better treatments and symptom management. However, awareness of these conditions remains low among patient communities and healthcare professionals (HCPs). Increased discussions about symptoms are important to help people living with rare cholestatic liver diseases understand and manage their symptoms and achieve timely diagnosis.
As we look to the future, a collaborative, patient-centered approach is key to managing these complex diseases.
References
Younossi ZM, et al. 2019. Diagnosis and Management of Primary Biliary Cholangitis. Am J Gastroenterol. 114(1):48–63.
European Association for the Study of the Liver. 2017. EASL Clinical Practice Guidelines: The diagnosis and management of patients with primary biliary cholangitis. J Hepatol. 67(1):145-172.
Galoosian A, et al. 2020. Clinical updates in primary biliary cholangitis: trends, epidemiology, diagnostics, and new therapeutic approaches. J Clin Transl Hepatol. 8(1), pp. 49-60.
Baker A, et al. 2019. Systematic review of progressive familial intrahepatic cholestasis. Clin Resh Hepatol Gastroenterol. 43(1):20-36.
Nayagam NS, et al. 2022. Clinical phenotype of adult‐onset liver disease in patients with variants in ABCB4, ABCB11, and ATP8B1. Hepatol Commun. 6(10):2654-2664.
National Organization for Rare Disorders. Rare Disease Database: Alagille Syndrome. Available at: https://rarediseases.org/rarediseases/alagille-syndrome. Accessed April 2024. 2
.
To close out our ‘A Life in Science’ series, we’re proud to feature Keira Driansky, Executive Vice President and President of North America. Her work exemplifies how collaboration in science – and by staying curious about innovation – can lead to transformative advancements in healthcare.
.
An article by Jennifer Schranz, Senior Vice President and Global Head of Rare Diseases at Ipsen
In storytelling, you might hear of a superhero who squeezes coal with immense strength and heat, instantly creating a flawless diamond. While fiction, it’s true that diamonds are rare and formed under precise conditions over millions of years. For me, this analogy resonates deeply with the development of rare disease medicines—an arduous, highly complex, and time-intensive process that transforms scientific discovery into potentially life-changing treatments.
At the Orphan Drug and Rare Disease (ODRD) Congress, I addressed the myths and challenges surrounding rare disease innovation. More importantly, I spoke about how we, as an industry, must collaborate to ensure people living with rare diseases have access to the treatments they urgently need. Rare disease drug development is uniquely complex—marked by small patient populations, unclear clinical endpoints, and slow recruitment. Yet, there are other barriers that lie beyond the laboratory: regulatory frameworks, pricing, and reimbursement policies that do not fully account for the distinct challenges of rare disease R&D.
Of the more than 10,000 known rare diseases, 95% still lack an approved treatment.1 For patients and families, every breakthrough represents more than just a therapy—it offers hope, better quality of life, and more time with loved ones. Yet, financial and structural barriers can slow innovation and limit access to treatments. Without a proactive approach, progress will remain out of reach for too many.
Developing a rare disease medicine is like mining for diamonds—nature may create something extraordinary, but extracting and refining it requires immense effort. Just as only a small percentage of mined diamonds are suitable for fine jewelry, many promising drug candidates never reach those who need them. This is why we must rethink how we develop and evaluate treatments for rare diseases.
To bring more treatments to people with rare diseases, we need a shift in how we approach drug development. A case-by-case model for each disease is unsustainable. Instead, we must embrace innovation across three key areas:
Research & Development: Basket trials, molecular-based disease clustering, and pathway-driven approaches can help unify small patient populations, improve trial recruitment, and strengthen study power.
Regulatory Science: Regulatory policies must evolve to accommodate new trial designs, adjust orphan drug designation criteria, and integrate real-world data into approval pathways.
Health Economics & Market Access: New pricing models—such as multi-indication pricing, value-based pricing, or milestone-based performance pricing—can help make orphan drugs more accessible and sustainable.
Across all of these, collaboration is key. By building strong partnerships between industry, academia, patient organizations, and regulators, we can develop a shared vision for rare disease innovation. The International Rare Diseases Research Consortium (IRDiRC) aims to support the development of 1,000 new rare disease therapies by 2027.2To get there, we need sustained investment, incentives, and fresh thinking about development and access.
Incentives for orphan drug development have long supported rare disease innovation, fostering investment and research in this critical area. In recent years, many new treatments have emerged for rare diseases, yet shifting policies and evolving economic considerations could slow this momentum.
A thriving research ecosystem doesn’t happen by chance—it requires careful nurturing. If incentives decline, we may see fewer translational research programs, slower clinical trials, and weakened industrial partnerships. This isn’t just about the pharmaceutical industry; it’s about ensuring people with rare diseases continue to have hope for new treatment options.
What drives me most is making a real difference in the lives of people living with rare diseases—not just by developing treatments, but by ensuring they receive the support and access they deserve. The impact of rare diseases is profound, and we cannot afford to slow progress.
So where do we go from here? Let’s create an environment that accelerates breakthroughs and prioritizes access. Like diamonds, every new therapy results from pressure, persistence, and the right conditions—let’s ensure these rare and valuable treatments reach the people who need them most.
In the latest installment of our ‘A Life in Science’ series, we’re excited to introduce Crystel Ogier, our Clinical Biomarker Director, who leads the awareness and implementation of companion diagnostics at Ipsen. Crystel’s work is a prime example of how cutting-edge science is making a real impact in shaping the future of drug development and improving patient outcomes.
.
Next in our ‘A Life in Science’ series, Dorinne Desposito, Predictive Toxicology Project Manager, shares her insights on driving innovation through creative thinking and the power of shared learning within our dedicated teams. Dorinne’s work exemplifies how cross-functional collaboration at Ipsen is advancing science, making a meaningful impact, and ensuring that science remains both fun and motivating.
.
An article by Philippe Ghyssels, Vice President Corporate and Global Public Affairs
For individuals living with a rare disease, every day without treatment is a day too long. At the World Evidence, Pricing and Access (WEPA) congress in Amsterdam, I participated in a panel discussion on long-term access to rare disease innovation. The conversation reminded me that behind every policy, negotiation, and delay are real people whose lives depend on timely access to treatment.
Innovation in rare diseases has come a long way, but as we continue to make progress, we need to ensure that access keeps pace with innovation. A new treatment can only change lives if it consistently reaches the people who need it, when they need it.
And yet, timely access isn’t always straightforward—rare disease treatments don’t fit neatly into the traditional pharmaceutical development and access model. The orphan drug business model is unique—it requires a thoughtful balance between fostering innovation and making therapies available equitably and without delay. While many advances have been made, there are still areas where we can work together to improve:
More orphan drugs are being approved in the U.S. than in Europe. This highlights an opportunity to strengthen regulatory and market access pathways in the EU, helping to prevent unnecessary delays in treatment availability.
Even after EMA approval, access timelines vary widely across Europe. Differences in national pricing and reimbursement (P&R) processes mean some people wait significantly longer than others for the same treatment.
Rare disease access frameworks are evolving, but challenges remain. Many countries are navigating questions around the role of surrogate endpoints, the use of low-cost comparators, and pricing thresholds—which can sometimes slow down access instead of accelerating it.
Rather than seeing these as barriers, we should view them as opportunities to refine and optimize access pathways—so that innovation translates into impact, faster and more consistently.
How can we move forward? Ensuring that rare disease treatments reach people in a sustainable, long-term way requires collaboration and fresh thinking. For me, key areas of focus include:
Strengthening incentives for innovation. Policies supporting intellectual property protections, tax incentives, and scientific guidance will drive continued investment in rare disease research and development.
Fostering early, multi-stakeholder collaboration. When people living with rare diseases, payers, regulators, researchers, and industry engage early, we can create a more predictable and effective pathway to access.
Exploring new funding models. The traditional P&R process doesn’t always account for the full value of rare disease treatments. We need to continue exploring flexible, innovative funding solutions.
Embracing flexibility in decision-making. Greater acceptance of surrogate endpoints, real-world evidence, and adaptive approvals can help accelerate access while maintaining high safety and efficacy standards.
Aligning access frameworks with the realities of rare diseases. More inclusive willingness-to-pay (WTP) thresholds—like NICE’s Highly Specialized Technologies (HST) model—recognize the long-term impact of these therapies and should be considered more broadly.
One of my biggest takeaways from the World EPA Congress is that there is a strong, shared commitment to improving rare disease access. Policymakers, healthcare professionals, regulators, patient groups, and industry are all working toward the same goal—making sure that people with rare diseases can benefit from innovation in a sustainable and timely way.
Rather than focusing on what isn’t working, we should channel our efforts into what we can build together. By aligning incentives, fostering collaboration, and keeping people at the center of decision-making, we can shape a future where rare disease access is no longer a challenge but a given.
The solutions are within reach. Now is the time to make them a reality.
New in our ‘A Life in Science’ series, we hear from Christelle Huguet, Executive Vice President and Head of Research and Development, about what keeps her motivated in the challenging world of pharma. Driven by a deep sense of curiosity and a strong commitment to advancing patient outcomes, her journey is a powerful testament to the incredible impact of a curious mind and science with a purpose.
Every day, millions of people around the world face the immense challenges of living with a rare disease. For these individuals and their families, resilience is essential, and hope becomes a lifeline. Rare Disease Day is a moment to honour their courage, amplify their voices, and reaffirm our shared vision of a future filled with opportunities beyond what anyone affected by a rare disease might have imagined possible.
This year, we embrace the Rare Disease Day theme, “More Than You Can Imagine,” as a call to action for patients, caregivers, advocates, healthcare professionals, policymakers, and industry alike. It serves as a powerful reminder of what is possible when we work together to turn imagination into impact.
Led globally by EURORDIS and supported by countless other organizations, Rare Disease Day serves as a vital platform to spotlight the rare disease community while driving awareness and collective action. Their efforts remind us of the importance of collaboration—not only on this day but throughout the year.
At the heart of this year’s activities is the collective vision of what we can achieve when united by shared purpose. Ipsen employees, inspired by the resilience and determination of those living with rare diseases, came together to share their hopes and dreams for the community. Their perspectives reflect a shared belief that imagining more is not a solitary act—it is a collaboration driven by everyone dedicated to making a difference.
The challenges in rare disease care remain significant. Delayed diagnoses, disparities in access, and barriers to support continue to impact patients around the world. Addressing these issues requires more than innovation; it demands partnerships, advocacy, and a deep understanding of the community’s needs. By working alongside patients, families, and advocates, we strive to ensure their voices shape the future of rare disease care.
Rare Disease Day reminds us of the extraordinary potential we have to make a difference. It is an opportunity to focus not only on what is possible today but on what we can achieve tomorrow. Together, with the rare disease community, we can imagine—and create—a future filled with possibilities beyond anything we can currently imagine.
Because when we imagine more, we can achieve more—not just for the few, but for everyone impacted by rare diseases.