Mayne Pharma Group Ltd. · ASX:MYX
Mayne Pharma — Mayne Group — UBS Global Specialty Pharmaceuticals Conference 2004
20 slides from Mayne Pharma's conference presentation, May 24, 2004
Slide 1: ASX cover letter for presentation slides
24 May 2004 Mayne Group Limited ABN 56 004 073 410 Company Announcements Office Australian Stock Exchange Level 21 390 St Kilda Road Level 4 Melbourne Vic 3004 20 Bridge St Phone 61 3 9868 0767 Fax 61 3 9868 0757 Sydney NSW 2000 Dear Sir, Global Specialty Pharmaceuticals presentation slides As notif
Slide 2: Presentation to UBS Global Specialty Pharmaceuticals Conference
Mayne Group Limited Presentation to UBS Global Specialty Pharmaceuticals Conference Mr Stuart James Group Managing Director and Chief Executive Officer 24 May 2004
Slide 3: Forward-looking statement
Forward-looking statement Comments will be made that are forward-looking statements for the purposes of the Private Securities Litigation Reform Act of 1995. We caution that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially fro
Slide 4: Mayne has reshaped itself
Mayne has reshaped itself Mayne has divested non-core Increasing focus on its global operations and managed capital Speciality Pharma business • Sold logistics in February 2003 • Speciality Pharma growth • Sold hospitals in November 2003 supported by: – Strong balance sheet • Approx. $US 872 million
Slide 5: Mayne Group structure
Mayne Group structure Mayne Group Limited ASX listed: $US 1.4B market cap Pharmaceuticals Diagnostic Services FY03 EBITA Growth FY03 EBITA Growth Revenue Margin Revenue Margin Specialty Pharma $US322m 15-20% 15-20% Pathology $US273m 12-20% 5-7% Pharmacy Services $US1,360m 2-2.5% 5-10% Imaging $US139
Slide 6: Mayne Pharma snapshot
Mayne Pharma snapshot An international leader in injectable specialty pharma • Sales (FY03) US$ 322 million • CAGR (5 year) 25% • EBITA margin (FY03) 21% • Employees 1,900 • Geographic Presence direct - 20 countries - 5 continents indirect distribution - 30 countries Americas EMEA Asia Pacific • App
Slide 7: Global growth strategy
Global growth strategy Focus on specialty pharmaceuticals: proprietary, branded generic and commodity generic products INTERNAL GEOGRAPHIC ACQUISITION DEVELOPMENT EXPANSION & IN-LICENSING Product Pipeline Product pipeline Product pipeline: • $US 1.6B LMV ü • $US 6.1B local • $US 0.1B LMV ü Product m
Slide 8: Recent corporate activity
Recent corporate activity Aug 2003 – Feb 2004 • Acquired paclitaxel dossiers and Global paclitaxel strategy API processing capability from NaPro Biotherapeutics, Inc. and Vertically integrated global North American paclitaxel sales paclitaxel franchise and marketing rights from Abbott • EU collabora
Slide 9: Building our business
Building our business Increasing specialisation Established Emerging Proprietary Evaluating Branded Products Biogenerics Niche product Generics specialisation (ICEs) Vertical Generic integration/ Local “Complex” Oncology market manufacture generics supply leadership chain Therapeutic class Injectabl
Slide 10: Specialty pharma market dynamics
Specialty pharma market dynamics National Regional Continental Global TEVA Andrx (US) Mylan Gedeon Richter Ratiopharm (EU) Alpharma Watson (US) Barr LEK Pliva Sandoz KV (US) IVAX Barr IVAX Mylan Teva Sandoz Alpharma Gedeon Sandoz Teva Ranbaxy Strada Dr Reddy’s LEK Developed generics markets: US & We
Slide 11: Injectable specialty pharma market dynamics
Injectable specialty pharma market dynamics Regional Continental Global Mayne APP (US) Ebewe (EU) Medac (EU) Ratiopharm (EU) TEVA Bedford (US) Stada (EU) eMerck (EU) Baxter Ivax Emerging & fragmented Large, homogeneous market market opportunity Emerging Unconsolidated Mayne Group Injectable market i
Slide 12: Mayne is well positioned
Mayne is well positioned EMEA Asia Pacific Americas Emerging Leader* Regional Leader Growing Presence • Market leader in generic • Clear market leader in • Emerging US business injectables in continental generic injectable pharma • #2 generic hospital Europe and UK in Australia player in Canada • #1
Slide 13: An established track record of growth
An established track record of growth Revenue EBITA USD millions USD millions and Margin % 400 80 21.0% 17.7% 17.9% 18.2% 16.8% 300 60 200 40 322.1 67.8 298.4 246.9 54.5 100 20 41.5 156.3 28.0 130.7 23.1 0 0 FY99(1) FY00(1) FY01(1) FY02(2) FY03 FY99(1) FY00(1) FY01(3) FY02(2) FY03 EBITA EBITA margin
Slide 14: World class manufacturing
World class manufacturing • USFDA certified manufacturing facilities in each of three key geographic regions – Mulgrave, Australia – injectable cytotoxic and non-cytotoxic capability – Salisbury, Australia – oral pharmaceutical capability – Aguadilla, Puerto Rico – injectable, non-cytotoxic – Wasser
Slide 15: Strong product pipeline
Strong product pipeline Pipeline Analysis Pipeline to 2010 Country approvals and current Local Market Value (LMV)(1) at launch • Total local market 2500 70 62 value of $US 7.8 54 60 billion 2000 50 • Doubled pipeline # of approvals 1500 40 value in 30 months $US M 28 30 • 50 molecules, 1000 $2.3B re
Slide 16: Major injectable product launches in 2004 to 2006
Major injectable product launches in 2004 to 2006 Competitive Position Region LMV* Paclitaxel • Vertically integrated global provider of API, US and • Europe: manufacture and sales Europe $US450m • 1st to market across Europe, up to 6-9 months ahead Carboplatin • October 04 launch at generic market
Slide 17: Mayne Pharma advantages
Mayne Pharma advantages • Strong financial track record • Leading market positions in hub markets like EU, UK, Canada & Australia • Successful development and regulatory track record • World class manufacturing • Strong product pipeline • Deep and broad pharma expertise • Strong corporate balance sh
Slide 18: Mayne Pharma outlook
Mayne Pharma outlook • Revenue growth of 20% in fiscal 2005 • EBITA margins 17%-20% • Increase value of internal development pipeline • Develop global franchise in paclitaxel • Successful 2004 launch of – Paxene® (paclitaxel) in Europe – Fluconazole mini bags in US – Carboplatin in US • Integrate MV
Slide 19: Mayne Group outlook
Mayne Group outlook • EBIT for 2H04 in-line with first half (excluding hospitals) • Improve ROIC through: 1. Increasing profitability in existing businesses 2. Efficient capital management 3. Value enhancing acquisitions – ROIC in excess of WACC – Strongly positive NPV of future cash flows – Earning
Slide 20: Mayne Group Limited
Mayne Group Limited Presentation to UBS Global Speciality Pharmaceuticals Conference Stuart James Group Managing Director and Chief Executive Officer 24 May 2004
Mayne Group — UBS Global Specialty Pharmaceuticals Conference 2004 on 6ix