Ucb S.a. · EURONEXT:UCB
Ucb — FY2022 Earnings Presentation
42 slides from Ucb's earnings presentation, Feb 22, 2023
Slide 1: FY 2022 Results
FY 2022 Results UCB Managed 2022 Headwinds and Is Ready for 2023 Launches Our Purpose: Create value for patients, now and into the future Capital Market Earnings Call 22 February 2023
Slide 2: Disclaimer & safe harbor
Disclaimer & safe harbor This presentation contains forward-looking statements, including, without limitation, statements containing the words “believes”, “anticipates”, “expects”, “intends”, “plans”, “seeks”, “estimates”, “may”, “will”, “continue” and similar expressions. These forward-looking stat
Slide 3: Agenda
Jean-Christophe Tellier UCB Managed 2022 Headwinds and Is Ready OVERVIEW CEO for 2023 Launches From Clinical Pipeline to Patients: Iris Loew-Friedrich CLINICAL PIPELINE High intensity of regulatory submissions and CMO DELIVERING reviews will translate into multiple expected approvals and launches Pr
Slide 4: UCB Managed 2022 Headwinds and Is Ready for 2023 Launches
UCB Managed 2022 Headwinds and Is Ready Proprietary and Confidential Property of UCB for 2023 Launches Jean-Christophe Tellier CEO UCB - FY results 2022, Feb 2023 4
Slide 5: 2022 FY Performance | At-a-Glance
2022 FY Performance | At-a-Glance Navigating a difficult year and preparing multiple launches Revenue € 5.52 bn Net sales: € 5.14 bn (-4%; -7% CER) (-6%; -8% CER) Underlying profitability € 1.26 bn or 22.8% of revenue (adjusted EBITDA) (-23%; -21% CER) Proprietary and Confidential Property of UCB 20
Slide 6: Ensuring Access to Our Solutions for Patients Who Need Them
Ensuring Access to Our Solutions for Patients Who Need Them is Core to Our Sustainable Performance 2021 2022 Access Coverage Index Baseline published in IAR 20211 Proprietary and Confidential Property of UCB Reimbursement for all patients within regulatory label 30% 35% Reimbursement for some, but n
Slide 7: Driving Sustained Growth While Making a Positive Impact on Society
Driving Sustained Growth While Making a Positive Impact on Society Value for people at UCB Preserved jobs while mitigating headwinds 80.4% for our Health, Safety and Wellbeing index 38% women at executive level 1st inclusion index results Proprietary and Confidential Property of UCB Value for our co
Slide 8: Inspired by Patients, Driven by Science
Inspired by Patients, Driven by Science Multiple launches in 2023 expected …and will be executed 2022 2023 ● VIMPAT® ● NEUPRO® 6 Products in Neurology ● NAYZILAM® ● KEPPRA® ● BRIVIACT® ● FINTEPLA® Proprietary and Confidential Property of UCB Upcoming expected ● fenfluramine – LGS in EU +3 approvals
Slide 9: Clinical Pipeline Delivering
Clinical Pipeline Delivering From clinical pipeline to patients: Proprietary and Confidential Property of UCB High intensity of regulatory submissions and reviews will translate into multiple expected approvals and launches Iris Loew-Friedrich CMO UCB - FY results 2022, Feb 2023 9
Slide 10: Many Milestones Achieved and Many More to Come
Many Milestones Achieved and Many More to Come … Clinical results, approvals, submissions and regulatory reviews 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 H1 2024 Phase 3 results CLINICAL bimekizumab / HS Phase 3 results zilucoplan / gMG Proprietary and Confidential Property of UCB REGULATORY REVIEWS Com
Slide 11: A Remarkable UCB Clinical Development Pipeline
… a Remarkable UCB Clinical Development Pipeline Nine clinical development assets PHASE 1 PHASE 2 PHASE 3 rozanolixizumab (FcRn inhibitor) MOG-antibody disease Topline results H2 2024 Autoimmune encephalitis Topline results H1 2024 Severe fibromyalgia syndrome Topline results H2 2024 fenfluramine (5
Slide 12: Rozanolixizumab and Zilucoplan for People Living With gMG
Rozanolixizumab and Zilucoplan for People Living With Generalized Myasthenia Gravis: Measurable Improvement of Patients’ Daily Lives As seen through a range of patient reported outcome measures* Generalized Myasthenia Gravis (gMG) Disease Activity Improvements impacting patients' lives means… Propri
Slide 13: Zilucoplan: Continuous Improvement of Quality of Life
Zilucoplan: Continuous Improvement of Quality of Life, Reported by Patients Similar effects were observed in MG-QoL 15r score across both treatment groups Zilucoplan: Change from baseline to Week E12 in MG-QoL 15r score Week 0 1 2 4 8 12 E1 E2 E4 E8 E12 0 Mean CFB (± SE) in MG-QoL15r score Proprieta
Slide 14: Rozanolixizumab: MycarinG Study in MuSK Ab+ gMG
Rozanolixizumab: MycarinG Study Demonstrates Unprecedented Efficacy in Patients With MuSK Ab+ gMG MycarinG mean MG-ADL CFB at Day 43 in participants with AChR Ab+ or MuSK Ab+ gMG Reductions from baseline in MG-ADL score were observed at Day 43 for both rozanolixizumab dose groups versus placebo in p
Slide 15: Rozanolixizumab: Unique Improvement in All Dimensions of Fatigue
Rozanolixizumab: Unique Improvement in All Dimensions of Fatigue – Highly Relevant for Patients MycarinG mean CFB in key MG Symptoms PRO scores - Improvements in key MG Symptoms PRO dimensions over time were observed for both rozanolixizumab dose groups versus placebo at Day 43 Muscle weakness fatig
Slide 16: Leadership Position in Epilepsy
Leadership Position in Epilepsy Proprietary and Confidential Property of UCB Getting Ready to Bring 2 New Treatment Options to People Living With gMG Charl van Zyl Executive Vice President Head of Neurology Solutions & EU, International Markets UCB - FY results 2022, Feb 2023 16
Slide 17: Leading Epilepsy Portfolio
Leading Epilepsy Portfolio Impacts from loss of exclusivity to VIMPAT® (US / EU) and E-KEPPRA® (Japan) – new addition FINTEPLA® 2022 FY Net Sales € 5 140 M1 (-6%; -8% CER) Epilepsy € 2 532 M (-14%; -19% CER) €M ACT CER Generic competition since end of March in the US and since Proprietary and Confid
Slide 18: Neurology Solutions Strategy
Neurology Solutions Strategy Key driver of mid- and long-term growth Continue to lead Successful launch into Partnering for impact in in epilepsy myasthenia gravis Parkinson’s/Alzheimer’s Proprietary and Confidential Property of UCB Increasing focus on more Poised to be leading player Global partner
Slide 19: UCB Epilepsy Leadership Across the Globe
UCB Epilepsy Leadership Across the Globe 1M compounds per >250 >2.7 M drug screening >€2.5 bn 1 interventional studies >500 epilepsy patients epilepsy net sales under care worldwide worldwide >25 000 Proprietary and Confidential Property of UCB protein targets reviewed AI / digital pathobiology pati
Slide 20: Fenfluramine Offers New Hope for Individuals Living With DEEs
Fenfluramine Offers New Hope for Individuals and Families Living With Challenging Developmental Epileptic Encephalopathies (DEEs) Dravet Syndrome (DS) Lennox-Gastaut Syndrome (LGS) CDKL5 Deficiency Disorder (CDD) ~12 k – 15 k ~60 k – 100 k ~8 k – 10 k US, EU, JPN prevalence US, EU, JPN prevalence US
Slide 21: Leading in Myasthenia Gravis: Unique and Complementary Assets
Leading in Myasthenia Gravis: Unique and Complementary Assets Launch readiness maximizing UCB medical expertise and patient insights Establishing Enabling Optimising Highlighting Differentiated Sustainable Patient True Need Portfolio Access Experience Proprietary and Confidential Property of UCB Key
Slide 22: Unique Portfolio Comprising Two Mechanisms of Action
Unique Portfolio Comprising Two Mechanisms of Action Poised to Transform the Myasthenia Gravis Landscape zilucoplan & rozanolixizumab gMG Two unique targeted medicines enabled Portfolio by digital innovation and support services Proprietary and Confidential Property of UCB Current treatment options
Slide 23: Expanding Portfolio in Immunology
Expanding Portfolio in Immunology Proprietary and Confidential Property of UCB Strong Performance with CIMZIA® and EVENITY® and Launch Momentum with BIMZELX® Emmanuel Caeymaex Executive Vice President Immunology Solutions & Head of US UCB - FY results 2022, Feb 2023 23
Slide 24: Commercial Execution in Immunology
Commercial Execution in Immunology Strong product growth and strong launches 2022 FY Net Sales € 5 140 M1 (-6%; -8% CER) Immunology € 2 145 M (+15%; +6% CER) Proprietary and Confidential Property of UCB €M ACT CER Outperforms anti-TNF market based on differentiation VIMPAT® CIMZIA® € 2 085 +13% +5%
Slide 25: Since 2008, CIMZIA Has Accumulated Over Million Patient Years
Since 2008, CIMZIA® Has Accumulated Over 1 Million Patient Years …for people living with inflammatory TNF-mediated diseases with a differentiated product Net Sales € M, Worldwide Net Sales by Region 2 085 IM 1 841 2022 1 712 1 799 11% > € 2 bn sales 1 424 1 446 serving 180 000 Japan Proprietary and
Slide 26: Continued Strong BIMZELX Uptake Across Global Launch Markets
Continued Strong BIMZELX® Uptake Across Global Launch Markets Reaching over 4 000 patients worldwide Europe Canada Japan Accelerating uptake post pandemic Expanding usage fueling competitive growth Growth continues vs IL-17s Estimated treated patients from Cumulative monthly patients Cumulative mont
Slide 27: On Track for Leadership in IL-17 in Psoriasis
On Track for Leadership in IL-17 Dynamic Shares in Psoriasis Across Markets Proprietary and Confidential Property of UCB Exit HY >15% >20% >1.5% >4% n/a Exit 2022 30% 25% 14% 33% 21% >10% within IL17/IL23 >10% within IL17/IL23 8% within IL17/IL23 >10% within IL17/IL23 >10% within IL17/IL23 Launch La
Slide 28: BIMZELX Patients More Likely to Continue Treatment
BIMZELX® Patients More Likely to Continue Treatment Than on Other IL-17 and on Par With IL-23* Early insights on persistence… Persistence on treatment from initiation (Germany) Methodology: All patients initiated after SEP21 are selected, both bio-naive and switch patients. Kaplan Meier curve - Pati
Slide 29: Establishing Bone Builder Leadership With EVENITY
Establishing Bone Builder Leadership With EVENITY® Leading in US, South Korea, Australia, Canada, Belgium, Denmark & the Netherlands Reach, Worldwide Performance, Worldwide Net Sales, Europe > 400 k > $ 850 M € 25 M Proprietary and Confidential Property of UCB patients at high risk sales* in 2022 sa
Slide 30: 2022 FY Performance
2022 FY Performance Solid Financial Foundation – Proprietary and Confidential Property of UCB Investing into Company Growth Sandrine Dufour CFO UCB - FY results 2022, Feb 2023 30
Slide 31: Strong Product Portfolio – Managing Generic Erosion
Strong Product Portfolio – Managing Generic Erosion 2022 FY Net Sales € 5 140 M1 €M ACT CER (-6%; -8% CER) Epilepsy € 2 532 M CIMZIA® € 2 085 +13% +5% Peak sales ahead of 2024 (-14%; -19% CER) VIMPAT® € 1 124 -27% -33% LOE since March in the US, since September in Europe Immunology Proprietary and C
Slide 32: 2022 | Navigating a Difficult Year
2022 | Navigating a Difficult Year Managing the headwinds and preparing multiple launches Accelerated and successful Strong cost discipline mitigating inflation / integration of Zogenix indexation impact: Creating the necessary space Proprietary and Confidential Property of UCB for ongoing and upcom
Slide 33: 2022 FY Financial Highlights
2022 FY Financial Highlights Navigating a difficult year and preparing multiple launches 2022 Actual CER Net Sales € 5 140 M (-6%; -8% CER) Revenue € 5 517 M -4% -7% Good portfolio growth compensated by LOE impacts VIMPAT® and E-KEPPRA® Gross margin before amortization of intangible assets linked to
Slide 34: Strong Balance Sheet
Strong Balance Sheet • Net debt increase reflects Zogenix acquisition in 2022; Net debt/EBITDA 1.6x • Good cash flow generation excluding Zogenix impact, strong cash position • Board of Directors proposes a dividend of €1.33 per share (gross), +2% - in-line with UCB’s dividend policy and underlying
Slide 35: Recognized for Our ESG Performance Across Key Rating Providers
We Are Recognized for Our ESG Performance Across Key Rating Providers ESG Rating Providers Index Memberships 2020 2021 2022 Industry rank 3 / 443 of the 25.4 16.8 16.8* Proprietary and Confidential Property of UCB biotechnology subindustry Selected to be part of the new BEL ESG Index, with UCB is a
Slide 36: Financial Guidance for 2023
Financial Guidance for 2023 Investing behind multiple launches, Zogenix acquisition becoming earnings accretive Revenue expected € 5.15 - 5.35 bn Peak sales guidance • FINTEPLA® Proprietary and Confidential Property of UCB • Expected launches bimekizumab, rozanolixizumab and zilucoplan • Loss of exc
Slide 37: Active Management of Financial Situation
Active Management of Financial Situation Ongoing Management of Protecting profitability Proprietary and Confidential Property of UCB Investing in generic erosion and in the near- and multiple launches macro environment longer-term Launch execution and launch VIMPAT® generic erosion fully annualized
Slide 38: Guidance 2025
Guidance 2025 Leading in 5 specific patient populations Proprietary and Confidential Property of UCB Financial guidance At least € 6 bn Top Line low- to mid-thirties adj. EBITDA margin Improved ESG rating performance UCB - FY results 2022, Feb 2023 38
Slide 39: We have strong growth ahead…
We have strong growth ahead… Proprietary and Confidential Property of UCB …creating value for all stakeholders, now and into the future Jean-Christophe Tellier CEO UCB - FY results 2022, Feb 2023 39
Slide 40: UCB is managing, delivering, on track and confident
MANAGING • LOE erosions • Delay of bimekizumab US launch • Inflation costs • Multiple launch preparations DELIVERING Proprietary and Confidential Property of UCB • Positive results for pipeline assets • Peak sales for core products • Multiple new launches expected UCB is… ON TRACK TO • Launch bimeki
Slide 41: Thank you… your questions, please
Thank you… your questions, please 41 Proprietary and Confidential Property of UCB
Slide 42: Proprietary and Confidential Property of UCB
Proprietary and Confidential Property of UCB