Almirall Sa · BME:ALM
Almirall Sa — JP Morgan Healthcare Conference 2011
18 slides from Almirall Sa's conference presentation, Jan 12, 2011
Slide 1: JP Morgan Healthcare Conference
JP Morgan Healthcare Conference San Francisco January 12th, 2011
Slide 2: Disclaimer
Disclaimer This document includes only summary information and does not intend to be comprehensive. Facts, figures and opinions contained herein, other than historical, are "forward-looking statements". These statements are based on currently available information and on best estimates and assumptio
Slide 3: Almirall at a glance
Almirall at a glance 3 3
Slide 4: Almirall in short
Almirall in short A European • 2009 Sales: € 925 MM; Employees: c. 3,000 mid size pharma • 12 affiliates in Major Europe and Mexico. with global reach • Products in 70 countries through partnerships. R&D driven driven,, • Two major filings planned in 2011 (aclidinium, linaclotide). significant pipel
Slide 5: A branded and well-balanced portfolio (I)
A branded and well-balanced portfolio (I) Other 13% Cardiovascular 21% Dermatology 12% Total Total 2009 2009 Sales: Sales: € 925,5 MM Respiratory 20% Gastrointestinal 16% CNS 18% 9 A successful combination of proprietary and partnered products. 9 Diversified risk across therapies and brands. 9 Low e
Slide 6: Strong track record in corporate development
Strong track record in corporate development 2006 2007 2008 2009 2010 Hermal OD LABA GmbH US Tesavel® Toctino® * (sitagliptin) (alitretinoin) Net Net Debt Debt:: Spain Linaclotide Europe 0,12 0,12 xx EBITDA EBITDA 2009 2009 Sofotec Conbriza® (bazedoxifene) Astucor® Eklira ® (amlodipine + atorvastati
Slide 7: Strategic drivers for long term growth
Strategic drivers for long term growth 2007 30 Sep. 2010 1 Growing internationally • % of sales 34% 43% 2 Leveraging own R&D • Projects in clinical stage 8 12 • R&D expense/sales 15% 15% 3 Maintaining leadership in Spain • Largest Spanish-based pharma company 9 9 • Largest R&D pharma expense in Spai
Slide 8: Continued productivity gains
Continued productivity gains SG&A improvements since IPO (€ rounded million) 300 50% SG&A as a % of sales SG&A in value 200 43,1% 45% 39,4% 100 38,3% 40% 295,2 276,2 259,0 0 35% YTD Sep 2008 YTD Sep 2009 YTD Sep 2010 9 Productivity improvements expected to generate yearly savings of €10 MM in 2011,
Slide 9: Financial outlook 2010
Financial outlook 2010 Guidance Evolution February June Flat to slightly Sales and declining sales Normalized Net 22 Legislative Legislative Income Income:: reforms reforms in in Spain Spain Steady Normalized Net Mid single digit Income decline Q3 results in line with June yearly guidance. 9
Slide 10: Summary – Q3 2010 Financial Results
Summary – Q3 2010 Financial Results YTD YTD € rounded million % var Sep 2010 Sep 2009 Net Sales 676,5 701,3 (3,5%) EBIT 146,8 162,4 (9,6%) EBITDA 192,8 210,3 (8,3%) Normalized Net Income 121,9 127,0 (4,0%) 9 Sales (-3.5%) and Normalized Net Income (-4.0%) within guidance. 9 Cost discipline and savin
Slide 11: Pipeline and growth outlook
Pipeline and growth outlook 11 11
Slide 12: A pipeline with significant upside (I)
Auto-immune A pipeline with significant upside (I) Dermatology Gastrointestinal Respiratory Expected filing Preclinical Ph I Ph II Ph III Registration date Filed Sativex® (CB agonist) Multiple Multiple Sclerosis Sclerosis Spasticity Spasticity Actikerall® (combination) Non-melanoma Non-melanoma skin
Slide 13: A pipeline with significant upside (II)
Auto-immune A pipeline with significant upside (II) Dermatology Respiratory Expected filing Preclinical Ph I Ph II Ph III Registration date LAS100977 + ICS (OD LABA + ICS) Asthma Asthma // COPD COPD >2013 >2013 LAS41003 (combination) Infected Infected eczema eczema LAS41004 (combination) Psoriasis P
Slide 14: Two major filings expected in 2011: Eklira (aclidinium bromide)
Two major filings expected in 2011: Eklira® (aclidinium bromide) • Positively completed phase III showed competitive efficacy and good tolerability. • Well positioned to be the 2nd LAMA in the COPD market. • Convenient Genuair® MDPI device. • Sizable and growing global COPD market of € 9bn with sign
Slide 15: Two major filings expected in 2011: Linaclotide
Two major filings expected in 2011: Linaclotide A first-in-class treatment developed for IBS-C • IBS is a functional gastrointestinal disorder with abdominal pain and altered bowel habits. • No product approved by EMA so far in this indication. • In H2 2010, positive topline results from two pivotal
Slide 16: Projected key deliverables in the next 12 months
Projected key deliverables in the next 12 months Operations Corporate Development R&D and Regulatory • Launch of Sativex® in • Partnering of aclidinium in • Two major filings: aclidinium Spain, Denmark, Germany Japan and Europe. and linaclotide. and Sweden. • Continue roll out of • License-out of DH
Slide 17: Preparing Almirall for the future
Preparing Almirall for the future Manage P&L • Productivity improvements expected to generate yearly savings of €10 MM in 2011, c. €30 MM in 2012 and to business and beyond. profit needs • Assess further operational efficiencies and productivity gains. Promote • Expand and optimize international bra
Slide 18: Almirall - Solutions with you in mind
Zé . (% Almirall Solutions with you in mind