Ipsen Raises Growth Forecasts and Announces Oncology Acquisition
The biopharmaceutical group Ipsen reported a revenue growth of 12.1% at constant exchange rates for the first nine months of 2025 and now anticipates an annual growth exceeding its previous estimates. An acquisition agreement for ImCheck Therapeutics has also been signed.
Strong Revenue Growth in Key Therapeutic Areas
According to data released by Ipsen for the first nine months of 2025, the group's revenue amounted to 2,734.8 million euros, up 12.1% at constant exchange rates, or 9.6% in reported data. This growth is supported by increases across the group's three main therapeutic areas: oncology, rare diseases, and neuroscience. Oncology revenue was 1,912.0 million euros, marking a 6.6% increase at constant exchange rates compared to 2024. Rare diseases reached 255.4 million euros (+101.0% at constant exchange rates) and neuroscience 567.3 million euros (+9.5% at constant exchange rates). Sales in the third quarter of 2025 amounted to 915.0 million euros (+13.7% at constant exchange rates).
Upward Adjustment of 2025 Financial Forecasts
Following a strong performance in the third quarter, Ipsen has raised its forecasts for the fiscal year 2025. The company now targets a revenue growth of around 10.0% at constant exchange rates, up from a previous target of over 7.0%. The operating margin is estimated to be around 35.0% of revenue, compared to a previous forecast of over 32.0%. The group anticipates an unfavorable currency impact of about 3% based on September 2025 rates. These forecasts are based on a slower than expected erosion of Somatuline® sales despite generic competition, and an acceleration of sales from other portfolio products. The annual and fourth quarter 2025 results will be published on February 12, 2026.
Definitive Agreement to Acquire ImCheck Therapeutics
Ipsen has announced the signing of a definitive agreement for the acquisition of ImCheck Therapeutics. Under the terms of the agreement, shareholders of ImCheck Therapeutics will receive an initial cash payment of 350 million euros at the transaction's closing, along with deferred payments contingent on regulatory approvals and commercial milestones. The transaction is expected to be finalized by the end of the first quarter of 2026, subject to customary conditions. This acquisition primarily targets the phase I/II clinical program evaluating the ICT01 molecule in the first-line treatment of acute myeloid leukemia, which has received 'Orphan Drug' designations in Europe and the United States. Additionally, in September 2025, Ipsen obtained regulatory approval in Japan for Bylvay® (odevixibat) for progressive familial intrahepatic cholestasis, and in July, the European Commission approved Cabometyx® for advanced neuroendocrine tumors.
