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As a global pharmaceutical company with a biotech mindset and a proven ability to provide new, life-changing therapies, Ipsen is a leading player in its core therapeutic areas.

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Craig Marks Adrien Dupin de Saint-Cyr
Vice President, Investor Relations Investor Relations Manager
+44 7584 349 193 +33 6 64 26 17 49

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Registration document

2020 Universal Registration Document

This registration document contains forward-looking statements about Ipsen’s targets and forecasts, including the Annual Financial Report. The registration document provides a comprehensive information about the Company its activities, financial information, colleagues and legal information

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Capital Markets Day

Capital Markets Day

Stock information

Share price and stock information, benchmark, orders, transactions: find out Ipsen share-related data.

Ipsen shares ADR program Shareholding structure Analyst coverage

Ipsen shares

Shares in Ipsen S.A. have been traded on the Eurolist by Euronext™ market (Compartment A) since 7 December 2005, when the IPO (Initial Public Offering) price was €22.20 per share.

Ipsen shares joined the Deferred Settlement System on 28 March 2007 and joined the SBF120 index on 24 December 2007.

Ipsen has implemented a Sponsored Level I American Depositary Receipt (ADR) program and trades on the over-thecounter market in the United States under the symbol IPSEY.

Share information 2020 trading data
ISIN Code FR0010259150 Average share price €73.46
Euronext Code IPN.PA Highest price (17/09/2020) €95.90
ADR Code IPSEY Lowest price (19/03/2020) €34.20
SRD / PEA Eligibility Yes/Yes Stock market capitalization(1) €5,691.01 M
Total Shares 83.8M Average daily volume 153,847

Comparison between Ipsen’s share price performance and the principal stock market indicators between 2 January 2020 and 31 December 2020 (Source: Onvista)

Price (Base 100 on 2 January 2020)

ADR program

Ipsen established a sponsored level I American Depository Receipt (ADR) program in the United States in June 2010 with Deutsche Bank trust company Americas (Deutsche Bank).

  • Ticker: IPSEY
  • Structure: Sponsored Level I ADR
  • Exchange: OTC
  • Ratio (ORD:ADR): 1:4
  • ADR ISIN: US4626291060
  • ORD ISIN: FR0010259150

CONTACT DETAILS FOR ADR HOLDERS:

Deutsche Bank Shareholder Services
AST
Operations Center
6201 15th Avenue
Brooklyn, NY 11219
USA

Email:
Toll-free number: +1 (866) 706-0509
Direct Dial: +1 (718) 921-8137

The Company’s ADR program is sponsored by Deutsche Bank. As the depository bank Deutsche Bank performs the following roles for ADR holders:

  • Records and maintains the register of ADR holders
  • Is the stock transfer agent
  • Distributes dividends in U.S. dollars (if applicable)
  • Facilitates the proxy voting process and exercises the voting rights on behalf of ADR holders (if applicable)
  • Issues and cancels Ipsen ADSs (American Depository Shares)
  • Can distribute company circulars and Annual General Meeting documentation (if applicable)

For those holders who are not registered because their shares are held through a ‘Street name’ (nominee account), your nominee will receive company documents from time to time from Deutsche Bank to distribute to ADR holders. You need to make arrangements with your nominee if you wish to receive such documents and to be able to exercise your vote through the depositary bank at general meetings (if applicable).

Shareholding structure

Shareholder structure

Analyst coverage

Stock information

Research & Development pipeline

Ipsen R&D has a valuable pipeline encompassing both lifecycle management of our well-established products, and the development of innovative new molecules.

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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

Financial objectives and outlook

Our top-line sales growth and bottom-line performance in 2020 were better than they have ever been – and our pipeline is stronger than ever.

2021 financial objectives Mid-term financial outlook and capital allocation strategy

2021 financial objectives

The Company upgraded its financial guidance for FY 2021 on 29 July 2021. This guidance incorporates an assumed progressive global recovery from COVID-19 in the second half of the year. Subsequent to the July 2021 launch of generic lanreotide in Germany, further launches of generic lanreotide in Europe in the second half of the year are also assumed; Ipsen does not, however, anticipate the launch of octreotide or lanreotide generics in the U.S. in 2021. Guidance is as follows:

Total sales – growth greater than 8.0%, at constant exchange rates

A core operating margin of around 32.0%, excluding any potential impact of incremental investments from external innovation

Mid-term financial outlook and capital allocation strategy

Ipsen provides its financial outlook for the period 2020-20241:

  • Group Net Sales CAGR2 between +2% and +5%3,assuming potential additional indications
  • Commitment to invest in R&D supported by SG&A efficiencies
    • Lower SG&A as a percentage of net sales driven by further focus and optimization
    • Higher R&D as a percentage of net sales driven by external innovation strategy

External innovation is Ipsen’s number one priority for capital allocation. In support of its external innovation strategy, Ipsen expects to generate by 2024 a cumulative €3bn4 of firepower for pipeline expansion, excluding the sale of any assets.

1 Ipsen is on track to deliver its previous 2022 financial targets and is committed now to a new 2024 financial outlook
2 Compound Annual Growth Rate
3 At constant exchange rates and scope
4 Based on Net Debt remaining below 2.0x EBITDA

Financial objectives

Annual Report 2020

Under the overarching theme of Focus. Together. For patients & society, Ipsen will be focusing on four strategic priorities to accelerate our innovation and drive positive impact for patients, employees, shareholders and society – a strategy for the short and long term.

Annual Report

© Ipsen Pharma, 65 Quai Georges Gorse, 92100 Boulogne-Billancourt, France. All rights reserved - 2021