The Ipsen Investment Case

FY 2021: headlines Executing the strategy MAXIMIZE our brands STRENGTHEN the pipeline DRIVE efficiencies FOCUS on culture Total sales growth of +12.3% to €2,869m, driven by Specialty Care growth of +12.7% Seven external-innovation agreements across every therapeutic area A record core operating margin of 35.2% A stronger leadership team driving Ipsen's growth IPSEN Innovation for patient care All growth rates are at constant exchange rates. 5

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