Moberg Pharma Ab · OMXSTO:MOB

Moberg Pharma Ab — Investor Presentation (October 2014)

23 slides from Moberg Pharma Ab's investor presentation, Oct 14, 2014

  1. Slide 1: Moberg Pharma AB

    Moberg Pharma AB Combining Commercial and Innovation Excellence to provide unique products in underserved markets Corporate Presentation – Aktiespararna Tranås, October 14, 2014 Peter Östling, Director Business Development & Head of IR 0

  2. Slide 2: Disclaimer

    Disclaimer Statements included herein that are not historical facts are forward-looking statements. Such forward- looking statements involve a number of risks and uncertainties and are subject to change at any time. In the event such risks or uncertainties materialize, Moberg Pharma’s results could

  3. Slide 3: Moberg Pharma: Combining Commercial and Innovation Excellence

    Moberg Pharma COMBINING COMMERCIAL AND INNOVATION EXCELLENCE Vision Strategic plan  Build a mid-size Pharma/Consumer  Growth strategy Health company with direct Sales in: - Organic growth - U.S. and select countries - Innovation engine incl M&A - OTC and select specialty areas  Build value throug

  4. Slide 4: Moberg Pharma at a glance

    Moberg Pharma COMBINING COMMERCIAL AND INNOVATION EXCELLENCE  Net Sales grew to 178 MSEK (TTM, Q214) - U.S. OTC Sales operations - Products sold in 40+ countries - 30 employees in Sthlm and NJ  Focus in OTC/Dermatology/Topicals - Leading U.S. OTC SKU in Nail Fungus - Superior PII data for MOB015 

  5. Slide 5: Rapid growth in sales and EBITDA

    Rapid growth in sales and EBITDA (MSEK) 157 112 106 Milestones 56 Product Sales Net Sales 2011 2012 2013 2014 H1 13 14 13 EBITDA EBITDA -8 -8 -13 EBITDA excluding -16 milestone payments -29 4 4

  6. Slide 6: Consecutive quarters of sales growth

    17 consecutive quarters of sales growth Product Sales, TTM, MSEK 200 MSEK 175 150 125 100 75 50 25 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2010 2010 2010 2010 2011 2011 2011 2011 2012 2012 2012 2012 2013 2013 2013 2013 2014 2014 5 5

  7. Slide 7: Majority of revenue from direct OTC sales

    Majority of revenue from direct OTC sales – Strong contribution to earnings from both channels Distribution of revenue, Jan – June 2014 JointFlex Other RoW Sales via 12% 12% 4% distributors Europe 32% Kerasal 22% 16% Nalox/ Direct OTC Kerasal Nail Americas Sales 68% 60% 74% Channels Products Geograp

  8. Slide 8: Commercial EBITDA margin exceeding 20% and EBITDA increased to 14% in H1

    Commercial EBITDA margin exceeding 20% and EBITDA increased to 14% in H1 Jan-Jun Jan-Jun Full-year (MSEK) 2014 2013 2013 Revenues 105.5 83.4 157.4 - Product Sales 103.7 83.4 152.6 - Milestones 1.8 - 4.8 EBITDA 14.4 -7.3 -8.0 EBITDA-margin 14% neg neg Operating profit 10.5 -10.3 -14.1 Earnings after

  9. Slide 9: Commercial Operations & Innovation Engine

    Commercial Operations & Innovation Engine

  10. Slide 10: Building brand equity in the U.S. on a cost effective platform

    Building brand equity in the U.S. on a cost effective platform CMOs Sales Force Retailers/Wholesalers Sales and marketing/Brand Management Logistics 9 9

  11. Slide 11: U.S. OTC market is highly consolidated

    U.S. OTC market is highly consolidated Ten largest retailers account for almost 70% of sales +5.2% +4.9% +3.2% +4.5% 10 Source: IRI. 52 weeks as of May 2013 10

  12. Slide 12: Outperforming the market through combining Brand and IP equity

    Outperforming the market through combining Brand and IP equity Organic growth 2014 H1 (Value), percent Strategic brands • Kerasal® - Foot care 31% • Domeboro® - Derma/Skin irritation) Mature brands • Jointflex (intern. analgesic®) • Vanquish (ext. analgesic®) 5% • Fergon (Iron supplement®) Moberg U.

  13. Slide 13: Distributor Sales well positioned for further growth

    Distributor Sales well positioned for further growth Nalox™/Kerasal Nail™  10% growth in Europe – implementation of new stronger claims just started.  Potential for further growth  Strong sales in Canada as response to launch of consumer advertising,  Market leader with 25% market share Jan - Ma

  14. Slide 14: Pipeline assets in phase II

    Pipeline assets in phase II - Building on Topical drug delivery know how and IP portfolio Peak sales Pipeline asset Indication Status potential, m$ USP MOB-015 Onychomycosis Phase II 250-500 Topical terbinafine with fast visible improvement and superior cure rates BUPI Oral Mucositis Phase II 50-100

  15. Slide 15: Excellent Phase II results

    Excellent Phase II results MOB-015 - FINAL RESULTS AT 15 MONTHS 54% 29% MYCOLOGICAL CURE MYCOLOGICAL CURE AND EXCELLENT CLINICAL IMPROVEMENT OR CURE 14 Source: Moberg Pharma data on file from MOB-015 phase II study 14

  16. Slide 16: MOB015 phase II results superior to topical drugs on the market

    MOB015 phase II results are superior to topical drugs on the market without the safety issues of oral therapy Mycological cure Active Product Company Form at 6 months at 12/15 Comment months Terbinafine MOB-015 Moberg Pharma Topical 40%1) 54% 25-75% affected Ciclopirox Penlac Valeant Topical - 29-36

  17. Slide 17: Example of successful treatment with MOB-015

    Example of successful treatment with MOB-015 Before After 16 16

  18. Slide 18: MOB-015 next steps

    MOB-015 next steps  Strategy to select partner for continued development and commercialization  Potential partners identified  Partner discussions ongoing 17 17

  19. Slide 19: Increased interest in Onychomycosis: Anacor/Sandoz deal

    CONFIDENTIAL Increased interest in Onychomycosis Anacor/Sandoz deal – July 2014 Total Deal Value estimated to NPV of 270 m$ (if no exercise of repurchase option) Upfront 65 m$ (whereof 25 m$ by Jan 2015) Payment 2016 45 m$ 50% of gross profits 2017-2025 Source: Anacor press release, MP analysis: est

  20. Slide 20: Innovation engine and acquisitions

    Innovation engine  8 patent families >100 - MOB015 – Ph II data expected in Sept - BUPI – Ph II expected Sept – Q115 - Kerasal Nail+/Nalox+  Focus to strengthen OTC pipeline BD OPPORTUNITIES EVALUATED IN 2013/14 Acquisitions/inlicensing  Focus on OTC assets for U.S. market 3 ACQUISITIONS LAST 21

  21. Slide 21: Management and Board with strong track record

    Management and Board with strong track record Management experience Board experience McKinsey, AZ, Q-Med, Biogen Idec, Pharmacia/Pfizer, Lundbeck, Genmab, Quintiles, Altaris Alterna, Karolinska Dev Capital, Merrill Lynch, J&J, Barrier Therapeutics, NCH Peter Wolpert Martin Ingman Steve Cagle Mats Pe

  22. Slide 22: 20 largest shareholders by Sep 30, 2014

    CONFIDENTIAL 20 largest shareholders by Sep 30, 2014 Shareholders No of shares Capital and votes, % ÖSTERSJÖSTIFTELSEN 2 245 179 16,1 HANDELSBANKEN FONDER 834 477 6,0 JPM CHASE NA (Altaris Capital Partners) 825 652 5,9 FÖRSÄKRINGSAKTIEBOLAGET, AVANZA PENSION 798 417 5,7 GRANDEUR PEAK 720 680 5,2 TRE

  23. Slide 23: Focus next 12 months

    Focus next 12 months COMBINING COMMERCIAL AND INNOVATION EXCELLENCE  Improving EBITDA  Fuel strong U.S growth - K-Nail and Neurocream launch - Line extensions and new SKUs  Grow Distributor Sales - EU: Extended indication - China registration, SE Asia, Mena  BD focus - US OTC products  MOB-015

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