Integrated annual report 2025

Everyone deserves a life fully lived. That’s why we go where there are no easy options, seeking to bring medicines to people living with rare or difficult-to-treat conditions in our three therapeutic areas.

Download our 2025 Integrated Annual Report

We are patient driven

Meet some of the people who inspire our work

Lily May

Lily May lives with pediatric low-grade glioma, a rare childhood brain tumor. Even so, she is active and energetic, and enjoys doing gymnastics, playing golf and spending time with her family.

Joris

Joris was born with biliary atresia, a rare liver disease. At only six months old, he had to undergo a liver transplant. Today, he enjoys a life full of family, friends and fun.

Diana

Diana experienced a stroke at only 34, and now lives with post-stroke spasticity. Through physical therapy, treatment and the support of her family, she managed to regain her mobility and sense of independence.

“Our sustainable growth tomorrow depends on where we focus our efforts today. Looking ahead, we’ll continue to seek out molecules with first- or best-in-class potential, work to develop them into treatments, and partner with healthcare systems to bring them to patients worldwide.”

David Loew

Chief Executive Officer

2025 highlights

Our acquisition of ImCheck Therapeutics expanded our Oncology pipeline with the addition of the lead clinical-stage program IPN60340 in acute myeloid leukemia.

Bylvay^® (odevixibat) was approved in Japan for progressive familial intrahepatic cholestasis, and we anticipate a readout of pivotal Phase III data in biliary atresia in 2026.

We had our first data readout for corabotase for the treatment of glabellar lines. The results support a first-in-class, differentiated long-acting clinical profile.

We fulfilled a major strategic ambition when we reached full gender parity on the Executive Leadership Team. In addition, women now make up 53% of the Global Leadership Team.

The European Medicines Agency accepted Ojemda^® (tovorafenib), a treatment for pediatric low-grade glioma (pLGG), for review.In April 2026, it was approved in the E.U. as the first targeted therapy in relapsed or refractory pLGG regardless of BRAF alteration.

16 more countries received the Great Place to Work^® certification, bringing our total to 30. This achievement recognizes our culture of collaboration, excellence and impact.

2025 at a glance

Total sales

Sales growth*

*at constant exchange rates (CER)

Investment in R&D

Available firepower for R&D pipeline expansion

Core operating margin

of Ipsen’s global electricity now comes from renewable sources

Therapeutic areas

Throughout 2025, we made progress across our three therapeutic areas: Oncology, including complex tumors, rare cancers and hematology, Rare Disease, notably rare liver conditions, and innovations in Neuroscience.

We pioneer treatments in cancer, advancing bold science where patients have few or no options.

Learn more about Ipsen’s Oncology portfolio

We believe these patients and their families deserve at least one treatment option. That commitment has led us to become leaders in rare liver disease.

Learn more about Ipsen’s Rare Disease portfolio

Our work in Neuroscience spans neurological conditions such as post-stroke spasticity, rarer conditions like cervical dystonia, as well as medical aesthetics.

Learn more about Ipsen’s Neuroscience portfolio

Science-led innovation

Leveraging our expertise, we focus on areas of high unmet need where we can have the greatest impact for patients.

Early development: catalysts of growth

By adding compelling new modalities and advancing our early-stage assets, we are strengthening the transformative potential of our pipeline, fuelling the next wave of innovation for patients with the highest unmet needs across our therapy areas.

Our high-impact pipeline

As a leading global biopharmaceutical company, we aim to deliver transformational medicines shaping the future of patient care in Oncology, Rare Disease and Neuroscience.

Partnerships opening new paths for patients

Since 2020, we have added more than 35 best- or first-in-class programs to our pipeline through partnerships. These collaborations fuel tomorrow’s breakthroughs.

Our new sustainability ambition for 2030

Our sustainability ambition for 2030 makes health our leading priority, supported by human impact, climate action, and responsible business. It builds on a decade of action, and is anchored in the nearly 100-year legacy of Ipsen’s founding Beaufour family.

Learn more about our sustainability strategy

Fondation Ipsen: forming community in rare disease

Established in 1983 under the aegis of the Fondation de France, Fondation Ipsen leads social and educational projects that raise awareness of rare disease. Its mission is to ensure that all people living with rare disease are treated with respect and receive an accurate and timely diagnosis.

Learn more

Read our full 2025 Integrated Annual Report

Find out how we are advancing science with purpose and bringing transformational new medicines to patients around the world.

Download the 2025 Annual Report