Ucb S.a. · EURONEXT:UCB
Ucb — FY2021 Earnings Presentation
37 slides from Ucb's earnings presentation, Feb 24, 2022
Slide 1: Full Year 2021: Delivering on UCB's Strategy and Commitments
UCB’s purpose – Create value for patients, now and into the future Full Year 2021 Delivering on UCB’s Strategy and Commitments Capital Market Earnings Call 24 February 2022
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 OUR PURPOSE Create value for patients, now and into the future CEO Iris Loew-Friedrich CLINICAL PIPELINE “6 out of 6” – Six positive Phase 3 results CMO DELIVERING Proprietary and Confidential Property of UCB Charl van Zyl Leadership position in epilepsy Executive Vice Presid
Slide 4: Our purpose – Create value for patients, now and into the future
Our purpose – Create value for patients, now and into the future Amplify impact for 2025 Proprietary and Confidential Property of UCB Jean-Christophe Tellier CEO 4
Slide 5: Driving sustained growth while making a positive impact on society
Driving sustained growth while making a positive impact on society Value for patients >3.7 million patients 31% reimbursement for all within regulatory labels 55% reimbursement for some but not all within regulatory labels Value for people at UCB Proprietary and Confidential Property of UCB 1 359 jo
Slide 6: Guidance 2025
Guidance 2025 Proprietary and Confidential Property of UCB Leading in 5 specific patient populations Financial At least € 6bn top line guidance Low- to mid-thirties adj. EBITDA margin Improved ESG rating performance 6
Slide 7: Our strategic growth path towards 2025
Our strategic growth path towards 2025 2015-2021 Delivered... Growth in core >3 700 000 patients Topline growth Focus on patients that can benefit most treated in 2021 products. Tracking well 8% CAGR* towards peak sales Proprietary and Confidential Property of UCB Successful launches BRIVIACT®, NAYZ
Slide 8: Eight years of strong growth
Eight years of strong growth Continued investment in innovation to deliver growth Annual Revenue Adjusted EBITDA +8% CAGR +15% CAGR Proprietary and Confidential Property of UCB € 5.8bn € 1.6bn Ratio € 3.1bn 28% 28% € 0.5bn 17% 2013 Revenue 2014-2020 2021 2013 Revenue 2014-2020 2021 8
Slide 9: 2021 FY performance | At-a-glance
2021 FY performance | At-a-glance Sustainable growth, delivering on UCB’s strategy and guidance € 5.78 billion Net Sales Revenue (+10% CER) € 5.47 billion +8% (+11% CER) Underlying Profitability (adj. EBITDA) € 1.64 billion or 28% of revenue Proprietary and Confidential Property of UCB (+14%; +21% C
Slide 10: Entering a transition phase, followed by accelerated company growth
ENTERING a transition phase, followed by accelerated company growth Proprietary and Confidential Property of UCB IN A STRONG also underlined by six very positive phase 3 We are… POSITION study read-outs from our late-stage pipeline CONFIDENT creating value for all stakeholders 10
Slide 11: Clinical pipeline delivering "6 out of 6"
Clinical pipeline delivering “6 out of 6” Six positive Phase 3 results Proprietary and Confidential Property of UCB Iris Loew-Friedrich CMO 11
Slide 12: 2021 & 2022: An unprecedented string of six positive Phase 3 read-outs and approvals
2021 & 2022: 4 2 An unprecedented string 10-DEC21 rozanolixizumab 18-JAN22 BIMZELX® of six positive Phase 3 in gMG in nr-axSpA read-outs and approvals 1 19-NOV21 3 16-DEC21 5 21-JAN22 6 4-FEB22 BIMZELX® in PsA BIMZELX® in AS BIMZELX® in PsA zilucoplan in gMG Proprietary and Confidential Property of
Slide 13: Strong clinical development performance
Strong clinical development performance Unprecedented 6/6 positive Phase 3 read-outs Probability of success by clinical trial phase and therapeutic area > 3 100 P3 to Proprietary and Confidential Property of UCB Global approvals* P1 to P2 P2 to P3 Approval Overall for core marketed Oncology 57.6 32.
Slide 14: Bimekizumab in active psoriatic arthritis (PsA)
Bimekizumab in active psoriatic arthritis (PsA) Translating clinical results into impact on patients’ daily life – as seen through the secondary efficacy endpoint Minimal Disease Activity (MDA) Minimal Disease Activity (MDA) is a composite measure of Main symptoms of PsA Scalp psoriasis PsA. Achievi
Slide 15: Rozanolixizumab and zilucoplan in generalized myasthenia gravis
Rozanolixizumab and zilucoplan in generalized myasthenia gravis Translating clinical results into improvements on patients’ daily life – as seen through a range of patient reported outcome measures* Improvements impacting patients’ lives mean: Proprietary and Confidential Property of UCB • Better co
Slide 16: UCB late-stage pipeline | Timelines confirmed
UCB late-stage pipeline | Timelines confirmed BIMZELX® (bimekizumab; IL-17A&F inhibitor) PHASE 1 PHASE 2 PHASE 3 FILING market authorization in EU, Psoriasis GB, Japan & Canada; under review in the U.S.* Psoriatic arthritis Submission Q3 2022 Axial spondyloarthritis Read-out earlier Hidradenitis sup
Slide 17: Leadership position in epilepsy; getting ready to launch in gMG
Leadership position in epilepsy Proprietary and Confidential Property of UCB Getting ready to launch in gMG Charl van Zyl Executive Vice President Head of Neurology Solutions & EU – International Markets 17
Slide 18: Leadership in epilepsy
Over 20 years of R&D expertise and commercial success Leadership in epilepsy Strong commitment to people living with epilepsy underlined by strong partnerships • >25 000 patients in >250 clinical studies; >10 epilepsy conditions • Compelling in-market portfolio outgrowing the market Proprietary and
Slide 19: Paradigm shift from suppression of seizures to disease modification
Paradigm shift from suppression of seizures to disease modification Evolving from broad to specific populations with advanced understanding of disease biology TODAY FUTURE Suppression of seizures Focus specific populations Proprietary and Confidential Property of UCB Proposed acquisition of Zogenix,
Slide 20: Unique portfolio comprising two mechanisms of action in Myasthenia Gravis
Unique portfolio comprising two mechanisms of action poised to transform the Myasthenia Gravis landscape gMG Zilucoplan & Rozanolixizumab Two unique targeted medicines enabled by Portfolio digital innovation and support services Proprietary and Confidential Property of UCB Current treatment Dual mec
Slide 21: 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 U.S. 21
Slide 22: CIMZIA increasing volume outweighed pricing impacts
CIMZIA® increasing volume outweighed pricing impacts CIMZIA® +12% volume, CIMZIA® continues to out-grow the mature reaching 170 000 patients TNF segment, thanks to differentiation Rheumatology: Dermatology: Growth of patients Growth of patients on-therapy on-therapy Proprietary and Confidential Prop
Slide 23: Bimekizumab delivering patient value in a competitive environment
Bimekizumab delivering patient value in a competitive environment Set to expand across the spectrum of Creating exceptional patient experiences IL-17 mediated diseases in psoriasis Proprietary and Confidential Property of UCB axSpA: axial spondyloarthritis; HS: hidradenitis suppurativa; PsA: psoriat
Slide 24: Competitive BIMZELX uptake in first launch markets
Competitive BIMZELX® uptake in first launch markets Comparison of launch uptake curves since approval date (cumulative doses) GERMANY UK 10 000 Proprietary and Confidential Property of UCB 1 400 Number of Doses 9 000 1 200 8 000 7 000 1 000 6 000 800 5 000 600 4 000 3 000 400 2 000 200 1 000 0 0 M1
Slide 25: Laying the foundations for BIMZELX
Laying the foundations for BIMZELX® In Germany, BIMZELX® is rapidly gaining IL-17 share in new patient starts BIMZELX® dynamic patient share* in dermatology; within IL-17 12.0% Proprietary and Confidential Property of UCB 11.1% 10.0% 8.7% 8.0% 7.5% Patients 6.0% 4.0% 2.6% 2.0% SEP21 OCT21 NOV21 DEC2
Slide 26: U.S. dermatologists recognize the relevance of IL-17F
U.S. dermatologists recognize the relevance of IL-17F in addition to IL-17A Dual inhibition of IL-17A and IL-17F perceived to be the most effective source of IL-17 inhibition by US Dermatologists Proprietary and Confidential Property of UCB 46% % of Responders 29% 13% 5% 6% 1% IL-17A IL-17RA Dual Tr
Slide 27: Establishing bone builder leadership with EVENITY
Establishing bone builder leadership with EVENITY® Getting ready to expand Reached world-wide > 200 000 patients at Thereof net Proprietary and Confidential Property of UCB high risk of fracture since launch sales in Europe 2021 Performance world-wide € 10 million ~ $ 600 million in-market sales* +4
Slide 28: 2021 FY Performance: Solid financial foundation
2021 FY Performance Solid financial foundation - Ready for the future Proprietary and Confidential Property of UCB Sandrine Dufour CFO 28
Slide 29: Strong net sales growth | Strong product portfolio
Strong net sales growth | Strong product portfolio million Act CER 2021 FY Net sales € 1 841 +2% +5% Strong volume growth: +12%, despite adverse CIMZIA® € 5 471 million pricing, 170 000 patients (+8%; +11% CER) € 1 549 +7% +10% Strong growth in all markets +9% volume, over VIMPAT® 800 000 patients,
Slide 30: 2021 FY financial highlights
2021 FY financial highlights We enter 2022 from a position of strength 2021 Actual CER Net Sales € 5 471 Million +8% (+11% CER) € 5 777 Revenue +8% +10% Driven by volume growth million Gross margin improved from 74.5% to 75.1% due to product mix € 4 339 Gross Profit +9% +12% Proprietary and Confiden
Slide 31: ESG ratings
16.8 (low risk) A Proprietary and Confidential Property of UCB ESG Ratings C+ B (climate change) B (water security) +5% (disclosure score) 31
Slide 32: Ending 2021 in a strong financial position
Ending 2021 in a strong financial position Net debt Capital allocation priorities € 860 m • Investment in R&D/innovation, maximized by partnerships after € 1 411m Proprietary and Confidential Property of UCB • Capital expenditure in 2020 • Provide shareholders with steady growing dividend proposal f
Slide 33: Financial guidance for 2022 – a transition year
Financial guidance for 2022 – a transition year Update expected upon successful closure of the planned Zogenix, Inc. acquisition*** Revenue expected € 5.15 - 5.40bn Peak sales guidance Proprietary and Confidential Property of UCB Continued core products growth, loss of exclusivity for E KEPPRA® in J
Slide 34: Guidance 2025
Guidance 2025 Proprietary and Confidential Property of UCB Leading in 5 specific patient populations Financial At least € 6bn top line guidance Low- to mid-thirties adj. EBITDA margin Improved ESG rating performance 34
Slide 35: Our purpose – Amplify impact for 2025
Our purpose – Create value for patients, now and into the future Amplify impact for 2025 Proprietary and Confidential Property of UCB Jean-Christophe Tellier CEO 35
Slide 36: UCB is delivering, on track, in great shape, confident
DELIVERING Peak sales for core products, new launches, positive results for pipeline assets Proprietary and Confidential Property of UCB ON TRACK To amplify impact by 2025 | Launching BIMZELX® and in rare diseases UCB is… IN GREAT SHAPE Strong R&D, great partnerships, solid financials and strategic
Slide 37: Thank you… your questions, please
Proprietary and Confidential Property of UCB Thank you… your questions, please Proprietary and Confidential Property of UCB 37