“All medicines have side effects, but it’s just about trying to minimize the impact through providing the information patients and clinicians need or finding other ways to mitigate that impact.” — Jacintha Sivarajah
With over 15 years of experience in the pharmaceutical industry, Jacintha now leads safety oversight for developing medicines. “My role is not only to ensure a proactive safety strategy but also, together with my Global Patient Safety colleagues, to provide robust safety surveillance for all patients enrolled across the whole program.”
She also sees safety science as a way of maintaining the crucial balance between risk and benefit. “What I do is help to ensure that whatever we do—whether it’s in our clinical trial programs or looking after the safety reporting when people report side effects—we assess that against the benefits and risks of treatments,” she says. “We aim to ensure that the benefit–risk balance remains in favor of the patients taking them.”
That balance requires vigilance and evolving tools. “Signal detection is a really important part of what we do in safety,” she explains. “You’re looking to see whether there are patterns emerging in side effects and whether that is associated with our medicine or not.” For Jacintha, the science of safety is about putting patients first.
“Ultimately, we all work to focus on the well-being of patients,” she says. “That’s what drives us all.”
Christelle Huguet, EVP Head of R&D
Ipsen is not new to aesthetics. For more than three decades, we have been advancing neuroscience innovations across therapeutic and aesthetic indications, building deep expertise in complex biologics, rigorous clinical development and high‑quality manufacturing. Our approved medicines are approved for aesthetic use in more than 80 countries worldwide, through our direct presence and trusted partners.
This heritage matters because the field of aesthetics is evolving, and its future will be shaped by science and data.
At Ipsen, innovation has always followed understanding. We build on what we know, learn from data and apply the same scientific discipline across therapeutic and aesthetic medicine. That approach has allowed us to translate decades of neuroscience research into solutions designed to meet rising expectations around quality, consistency and clinical robustness.
Today, expectations are changing. Patients, consumers and their treating physicians want treatments grounded in evidence, designed with intention and developed to consistently high standards. That requires more than incremental iteration, it demands deep biological insight, rigorous development pathways and confidence in the science behind every decision.
This conviction is reflected in how we invest. Today, 15% of Ipsen’s total R&D investment is dedicated to aesthetic indications.* We are advancing multiple Phase II and Phase III studies across aesthetic uses, reinforcing our vision to remain the engine of meaningful innovation in aesthetics.
Science‑led innovation also depends on the ability to translate discovery into reality. Ipsen’s manufacturing facilities are equipped with capabilities designed for the next generation of complex biologic treatments. They reflect long‑term investment in quality, reproducibility and manufacturing excellence – capabilities that matter when science moves from hypothesis to patient.
Aesthetics is advancing rapidly. But progress that lasts is built on evidence, experience and execution.
At Ipsen, we continue to shape the future of aesthetics through evidence based research, data driven decisions and building on decades of neuroscience expertise to deliver innovation.
*Reflects Ipsen R&D spend projected for 2026. Internal figure, February 2026.
We have delivered a strong start to 2026, reporting total sales growth of 22.6% at constant exchange rates in the first quarter. The performance reflects solid execution across our core therapeutic areas and continued demand for our differentiated medicines.
The Q1 results underscore our focus on delivering meaningful innovation for patients while driving sustainable, long‑term growth.
Consistent growth across all core therapeutic areas
Our first‑quarter performance was supported by balanced growth across Oncology, Rare Disease, and Neuroscience, driven by the strength and diversification of our portfolio.
This performance demonstrates our ability to deliver growth across multiple therapeutic areas addressing high unmet medical needs.
Well positioned for the year ahead
We’re starting 2026 with momentum and confirmed our 2026 full-year guidance. Looking ahead, we remain focused on advancing our pipeline, supporting launches, and reinforcing our position in Oncology, Rare Disease, and Neuroscience.
* All figures at constant exchange rates.
Sandra Silvestri, M.D., PhD, Executive Vice President and Chief Medical Officer, Ipsen.
For the hundreds of children diagnosed with pediatric low-grade glioma (pLGG) across Europe each year, the journey is rarely what families expect. It is often long, complex, and life-altering. However today, we’re excited that the treatment landscape has progressed.
The European Commission (EC) has granted conditional marketing authorization for the first targeted therapy in Europe for children with relapsed or refractory pLGG, irrespective of the type of BRAF alteration.
As a physician, I have seen how heavily uncertainty can weigh down the families of children with life-altering conditions. With pLGG, it is not just a medical challenge. It can be a lifelong one. For these families, this approval represents something genuinely new: a treatment option developed specifically for the biology of pLGG.
pLGG is a rare and life-altering brain tumor that can cause profound and lasting neurological consequences – loss of vision, speech difficulties, learning challenges – all of which shape a child’s development and quality of life well into adulthood. Treatment frequently involves surgery and repeated chemotherapy, with limited options if the disease returns.
At a time when only a small fraction of new medicines focus on pediatric diseases, this approval marks a rare but important advance in pediatric oncology.
The EC approval reflects the collective effort of researchers, clinicians, trial participants, patient advocates, and Ipsen teams who have worked with a singular focus on this disease. I am deeply grateful to each of them.
But approval is just the beginning. Our focus now turns to ensuring this therapy reaches the children and families across Europe who need it. We stand ready to work collaboratively with stakeholders across member states to support timely access.
Children living with rare cancers deserve more options. To them, and to the families who have never stopped hoping: we will keep going.
In the pharmaceutical industry, it’s easy to focus on data, strategy, and performance metrics. But behind every decision are real people. For Guillermo Castillo Acero, Head of European Mid-Sized Markets at Ipsen, that reality became clear during a precise moment in his career.
Early on, Guillermo describes his role as driven largely by delivering results. That changed during an awareness campaign on spasticity, organized in partnership with a patient association. The initiative, a race designed to raise visibility and promote inclusion, brought together patients, families, and healthcare stakeholders around a shared cause.
During a disease awareness event, Guillermo had the chance to speak directly with families. He expected conversations about treatments or clinical outcomes. Instead, what he heard was far more personal. They spoke about everyday challenges, getting dressed, eating, managing routine tasks, things often overlooked but deeply impactful for people living with spasticity.
The experience was emotional. Guillermo recalls struggling to hold back tears as he watched families connect, share, and find joy simply in being part of a supportive community. That moment stayed with him and reshaped how he viewed his work, not as a business responsibility, but as something that directly affects lives, both for patients and those around them.
Since then, Guillermo approaches his role with a stronger sense of purpose. The work is no longer just about outcomes on paper, it’s about enabling better daily lives. Sometimes, it only takes one moment to change how we see what we do. For Guillermo, it was listening, truly listening, to patients and their families, and realizing the human impact behind every decision.
By Christelle Huguet, EVP & Head of R&D, Ipsen
For too long, modern medicine has treated diseases as if they were uniform, defined by a label rather than by their underlying biology. Today, we have an unprecedented ability to interrogate the molecular drivers that shape each person’s cancer, and in doing so, we’re transforming how we diagnose, develop and deliver the medicines that matter most.
At the heart of this transformation lie biomarkers. What mutations are driving disease progression? How do tumor cells distinguish themselves from healthy cells? And importantly, how can these biological signatures guide us to the people with the highest unmet need? The ability to answer these questions allows us to focus our efforts on the most compelling science—science with purpose.
However, biomarkers are only one part of the story. As we unlock deeper insights into disease mechanisms, we must also equip ourselves with the right tools to act on them. That is why Ipsen is building a multimodality R&D engine, grounded in precision immune‑modulation and our expertise in the MAPK pathway. Each modality is designed with purpose: to act on well‑defined biology as a potential best‑ or first‑in‑class medicine.
What makes this progress truly powerful is its real‑world impact on patients. It opens doors to more targeted, and potentially more effective, options. But it’s equally important to recognize where the pathophysiology drivers are less clear and more work is required. Many cancers lack clear biomarkers, and too many patients continue to face conditions that remain under researched or poorly understood. This is exactly why we must continue to push the boundaries of innovation—so that scientific progress translates into real change.
At Ipsen, our ambition is clear: to develop a pipeline defined not by the limits of traditional medicine development, but by the possibilities of precision. Precision medicine is not a new concept—it is here, reshaping what we can deliver for patients today and redefining what will be possible for generations to come. And as science advances, we will continue to act with agility, focus and purpose to turn breakthrough insights into real solutions for the people who need them most.
“To succeed at this, you need to have some tolerance for failure and risk taking.”
At the heart of Ipsen’s early discovery efforts is a question of fit—how a molecule interacts with a disease-relevant protein, and what that means for therapeutic potential. Alexis Cocozaki’s team focuses on that exact space, applying biophysical and structural biology techniques to evaluate and optimize new assets at the atomic level.
“We isolate specific protein targets and run in vitro biochemical assays to identify molecules that inhibit those targets,” Alexis explained. Once a compound shows promise, they move into structural validation. “We determine the structure of the protein bound to the molecule to help guide the chemists in how to improve it.”
This work is foundational to structure-based drug design and early asset triage. By the time a compound reaches exploratory development, much of the molecular logic has already been built. “It’s about reducing uncertainty early—so later-stage teams can move with confidence.”
Early on, Alexis worked in hospital diagnostics—processing patient samples, analyzing infections, and generating data. That clinical exposure gave him a lasting sense of urgency. “It made me want to understand what was really going on at the molecular level. That’s where change begins.”
Structural biology, he believes, is undergoing its own shift. Tools for predicting protein structures, and the collective resource of artificial intelligence are beginning to accelerate a field once defined by months of trial and error. “The idea that we could pool together all of what’s out there into collective open source resources to help guide us on what we should focus on next will keep the industry moving forward at a fast pace.”
Through his efforts to anchor structure in strategy, Alexis is helping shape Ipsen’s approach to precision discovery—where insight builds momentum, and every atom mapped is a step toward what matters next.
We are pleased to announce that Ipsen’s 2025 Sustainability Statement – our annual publication outlining Ipsen’s environmental, social and governance (ESG) commitments, progress and priorities – is now available on our website, reflecting our commitment to maximize positive change for future generations.
This publication marks an important milestone in our ESG journey. It is the result of a collective effort, bringing achievements building a more sustainable future for patients, people, and society.
Over the course of seven months, more than 140 colleagues across lots of functions contributed to bringing this report to life. Spanning 230 pages, it reflects the depth of our ambition, supported by 407 KPIs and strengthened by audits conducted across three sites and Corporate functions.
Together, this work showcases not only our progress, but also the scale of collaboration and rigor behind our sustainability journey.
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This year’s edition provides a clear overview of the progress we have made in 2025, the challenges we continue to address, and the priorities guiding our journey ahead. It is structured around our four strategic pillars..
Healthcare key highlights
Environment key highlights
People key highlights
Governance key highlights
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The progress captured in this year’s Sustainability Statement shows how far we have come – and how much we can still achieve together.
As we move into 2026, we do so with strong momentum, renewed ambition, and a shared commitment to continuing our sustainability journey. Beyond our environmental objectives, we remain focused on being an employer of choice, fostering a strong ethical culture, and protecting patients through robust, end-to-end safety and quality systems. By working collectively across the organization, we continue to build a , more resilient, and more inclusive company – creating long-term value for patients, employees, and society.
Mary Jane Hinrichs, Global Head of Early Development
Redefining the next chapter of cancer innovation
Working in early development, I have the privilege to see the next generation of therapeutic science take shape – and few areas are more compelling than immuno-oncology (I-O). From first data points in the lab to breakthroughs in the clinic, it is clear that we are entering a new era with the potential to deliver transformative outcomes for patients.
That progress reflects a deepening sophistication – not only in our understanding of the immune system and its interaction with cancer, but in how we respond to real-world challenges faced by healthcare professionals, patients and families. Despite significant I-O breakthroughs, patient responses remain variable and immune-related toxicities widespread, underscoring the need for more refined and targeted approaches.1
From ‘releasing the brakes’ to targeted approaches
First-generation I-Os showed that releasing the brakes on immune cells can drive meaningful responses, but also exposed the limits of broad immune activation. These learnings are now shaping next-generation approaches that engage the immune system more precisely: targeting specific pathways and cell types for a more coordinated, tailored immune response.2
By coordinating the immune systems rapid front-line defenses and it’s more targeted, lasting response, these emerging therapies have the potential to deliver deeper anti-tumor activity while carefully managing safety.2,3
It’s this promise that shapes how we work at Ipsen. Grounded in precision, selectivity and deep cancer biology insight, we are advancing a growing I-O pipeline, spanning solid tumors and blood cancers with T cell engagers, T cell activators together with targeted antibody-drug conjugate therapies. I am especially driven by how next generation I-O approaches has the potential to deliver better tolerated options to patients living with acute myeloid leukemia, where unmet need remains so high.
Looking ahead
The pace of progress in I-O is remarkable, but the measure of success isn’t scientific sophistication. It’s whether that precision reaches patients living with cancers like AML, where current options remain inadequate. The tools are becoming sharper. The question now is how fast we can close the gap.
Nick Gagnon, Vice President and Head of Late Stage Partnering
Why late-stage partnering demands a clearer lens
Late-stage partnering is unforgiving — high-stakes, capital-intensive, and fiercely competitive. The cost of a poor partnership isn’t just financial; it’s the lost opportunity to advance a program that could have changed patient outcomes but didn’t get the right partner at the right moment.
Without a purpose-driven philosophy, even well-resourced organizations risk chasing novelty over impact and deal volume over value. That is the trap Ipsen is deliberately designed to avoid.
Ipsen’s strategy: purpose as a competitive differentiator
For us, partnering starts with purpose. We focus on impact, asking “is this science truly transformational for patients?” and “are we the right organization to accelerate it?”. Underpinned by this purpose, we apply a filter that is intentionally demanding, looking for strong scientific rationale with the potential to redefine standards of care. That calls for partners who, at their core, share our ambition and conviction, whilst aligning with our therapeutic expertise and infrastructure across Oncology, Rare Diseases, and Neuroscience.
This past year, I have continued to see the clarity of this partnering strategy come to life. The decisions we have taken haven’t always been easy, but we have stood by our principles, ensuring we stayed committed to programs with the highest potential for meaningful patient impact.
The future of biopharma collaborations
The future of partnering lies in intentional, high‑quality decisions. At Ipsen, we’re focused on whether the programs we champion reach patients who need them, and that our involvement meaningfully accelerated that outcome.
Patients don’t feel the impact of the deals we sign — they feel the medicines that reach them. And that is what science with purpose looks like in practice.
