Medicure Inc. · TSXV:MPH
Medicure — Investor Presentation (May 2017)
21 slides from Medicure's investor presentation, May 24, 2017
Slide 1: Investor Presentation
Investor Presentation May 24, 2017 Albert Friesen Chair, President & CEO James Kinley CFO Graeme Merchant Vice President, Commercial Operations
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation is for informational purposes only and should not be considered as an offer to buy or sell securities. No stock exchange has either approved or disapproved of the information that is contained in this presentation. This presentation may contain forward-loo
Slide 3: Medicure
Medicure A specialty pharmaceutical company focused on the development and commercialization of therapeutics for the U.S. hospital market. Key Attributes: • U.S. hospital sales force with cardio focus • Proven success with growth of Aggrastat® franchise • Expanding portfolio through product developm
Slide 4: Net Revenue Growth
Net Revenue Growth Consolidated Net Revenue (CDN Millions) $40,000,000 Apicore Medicure $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $0 2012 2013 2014 2015 2016 * * Apicore acquisition closed on December 1, 2016; therefore, only December 2016 Apicore net revenue
Slide 5: Adj. EBITDA Growth
Adj. EBITDA* Growth Consolidated Adj. EBITDA (CDN Millions) $15,000,000 Apicore Medicure $12,500,000 $10,000,000 $7,500,000 $5,000,000 $2,500,000 $0 -$2,500,000 † 2012 2013 2014 2015 2016 * The Company defines EBITDA as "earnings before interest, taxes, depreciation, amortization and other income or
Slide 6: Quarterly Net Revenue
Quarterly Net Revenue Consolidated Quarterly Net Revenue (CDN Millions) 16,000,000 Apicore Medicure 14,000,000 12,000,000 Aggrastat net revenue significantly lower than hospital sales due to inventory drawdown 10,000,000 Apicore business cyclical with Q1 historically contributing the least to an
Slide 7: Aggrastat Wholesaler Days-on-Hand
Aggrastat Wholesaler Days-on-Hand Q1 wholesaler days-on-hand (DOH) well below historical target of 25-30 days Inventory drawdown result of wholesaler shift in DOH target to 15-20 days Aggrastat Wholesaler Days-on-Hand (Monthly) 35 30 HISTORICAL TARGET RANGE 25 20 2017 TARGET RANGE 15 10 Dec 2016
Slide 8: Acute cardiovascular hospital product
Acute cardiovascular hospital product • I.V. platelet inhibitor; binds to GP IIb/IIIa receptor • Indicated for Acute Coronary Syndrome (ACS) • 41% reduction in death and MI in high-risk patients1 • Launched by Merck in 1998 • U.S. rights acquired by Medicure in 2006 • Medicure obtained broader FDA a
Slide 9: FDA Approval: Bolus Vial
FDA Approval: Bolus Vial Aggrastat is now available as a concentrated bolus vial Pre-mixed, single bolus delivery* Formulated for convenient IV push No pump programming needed Relatively neutral pH Does not require refrigeration * Current 100 mL and 250 mL (both 50 mcg/mL) bag formats prov
Slide 10: U.S. GP IIb/IIIa Inhibitor (GPI) Market
U.S. GP IIb/IIIa Inhibitor (GPI) Market 2016 GPI Market = $200 Million USD (WAC* Hospital Sales) Aggrastat Market Positioning: • Significant platelet inhibition profile • Robust data in over 8,000 patients Aggrastat Integrilin • Class 1 guideline recommended1,2 $122.2 million $32.5 million • Numerou
Slide 11: AGGRASTAT Hospital Demand
AGGRASTAT® Hospital Demand Total Units Sold Q1 2017 highest hospital 25,000 demand in history of Medicure 20,000 Label Change 15,000 Oct 2013 10,000 5,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2012 2013 2014 2015 2016
Slide 12: AGGRASTAT Patient Market Share
AGGRASTAT ® Patient Market Share Estimated Patient Market Share 100% (GP IIb/IIIa Inhibitors) 80% 60% Aggrastat (tirofiban HCl) 48% Integrilin (eptifibatide) 46% 40% Reopro (abciximab) 20% 5% 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2012 2013 2014 2015 2016
Slide 13: Apicore Transaction – December 2016
Apicore Transaction – December 2016 Fully-diluted Share Ownership Series A-1 Pref. Shares 7% & Employee Options1 Founders Medicure fixed price purchase option until 32% July 3, 2017 a private manufacturer of complex active pharmaceutical ingredients (APIs) and developer of generic 61% products (ANDA
Slide 14: Apicore Background
Apicore Background API Manufacturer & ANDA Developer: • Complex synthetic chemistry • Early & “first-to-file” generics • Two FDA approved facilities • >100 API products Somerset, New Jersey • >50 customers (Mylan, Teva, Sandoz, etc.) History: • Founded in 2004 (New Jersey) • Expanded Indian facility
Slide 15: Recent Apicore ANDA Approval
Recent Apicore ANDA Approval On March 23, 2017 Medicure announced FDA approval of Apicore’s Tetrabenazine ANDA • Treatment for involuntary movements of Huntington’s disease • Branded product Xenazine® sold by Valeant Pharmaceuticals • Generic versions of 12.5 mg and 25 mg tablets approved • Co-devel
Slide 16: Full Year Net Revenue: combined
Full Year Net Revenue: combined* Net Revenue (CDN Millions) $70,000,000 Apicore Medicure $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $0 2012 2013 2014 2015 2016 * Apicore acquisition closed on December 1, 2016; therefore, only December 2016 Apicore net revenue and beyond
Slide 17: Full Year Adj. EBITDA: combined
Full Year Adj. EBITDA*: combined † Adj. EBITDA (CDN Millions) $20,000,000 Apicore Medicure $15,000,000 $10,000,000 $5,000,000 $0 -$5,000,000 2012 2013 2014 2015 2016 * The Company defines EBITDA as "earnings before interest, taxes, depreciation, amortization and other income or expense" and Adjusted
Slide 18: Product & Business Development
Product & Business Development Building a specialty pharmaceutical portfolio focused on the U.S. hospital market Leveraging our sales infrastructure Investing in reduced risk - high reward development projects Maintaining focus on profitability First ANDA for generic cardiovascular drug fi
Slide 19: Key Financial Info – MPH: TSXV
Key Financial Info – MPH: TSXV Cap Structure As of May 23, 2017 Basic Total 15,586,403 Fully Diluted Total 17,848,502 Share Price C$6.99 Market Cap C$108,950,000 Recent Financial Highlights • 2016 Net Revenue $37.8 M • 2016 *Adj.EBITDA $12.2 M • Q1 2017 Net Revenue $8.7 M • Q1 2017 *Adj.EBITDA $(1
Slide 20: Thank you
Thank you Contact a Product Specialist Investor Relations 1.800.509.0544 [email protected] 1.888.435.2220 (Ext. 228) For More Information www.medicure.com www.aggrastat.com
Slide 21: Aggrastat Prescribing Information
Aggrastat Prescribing Information Indication: AGGRASTAT is indicated to reduce the rate of thrombotic cardiovascular events (combined endpoint of death, myocardial infarction, or refractory ischemia/repeat cardiac procedure) in patients with non-ST elevation acute coronary syndrome (NSTE-ACS). Dosag