Ucb S.a. · EURONEXT:UCB
Ucb — Investor Presentation (June 2020)
63 slides from Ucb's investor presentation, June 2020
Slide 1: Company Presentation
Company Presentation June 2020
Slide 2: Disclaimer & safe harbor
Disclaimer & safe harbor June 2020 - 2 Forward-looking statements This presentation contains forward-looking statements, including, without limitation, statements containing the words “believes”, “anticipates”, “expects”, “intends”, “plans”, “seeks”, “estimates”, “may”, “will”, “continue” and simila
Slide 3: Our ambition for patients
Our ambition for patients June 2020 - 3 To allow them to live their best lives Our commitments for a One Purpose positive impact on society to create value for patients, now and into the future Patients Employees Communities & planet Shareholders
Slide 4: UCB is progressing on its strategic growth path
UCB is progressing on its strategic growth path June 2020 - 4 2019: We entered the "Accelerate & Expand" phase Grow & Prepare Accelerate & Expand Breakthrough & Lead 2015-2018 2019-2021 2022-2025 • Core products growth • Maximize the number of lives we can • Bring highly differentiated positively im
Slide 5: UCB actions during the COVID-19 pandemic
UCB actions during the COVID-19 pandemic June 2020 - 5
Slide 6: Accelerate & expand (2019-2021)
Accelerate & expand (2019-2021) June 2020 - 6 Deliverables Focus on patients Identify & act on Strengthen our R&D who can benefit most potential opportunities bimekizumab positive Phase 3 results in psoriasis zilucoplan Staccato® alprazolam 2 launches (new) Phase 3 programs • Divestiture: Niferex® (
Slide 7: Ra Pharma – Excellent strategic fit with UCB
Ra Pharma – Excellent strategic fit with UCB June 2020 - 7 Enriching our pipeline, adding external opportunities Zilucoplan, ‘pipeline in a product’ • Highly complementary with rozanolixizumab in moderate / severe chronic and acute settings Technology platform ExtremeDiversity™ • Macrocyclic peptide
Slide 8: Acute on-demand epilepsy seizure management
Acute on-demand epilepsy seizure management June 2020 - 8 UCB acquires world-wide rights to Staccato® Alprazolam Staccato® Alprazolam, a drug-device-combination designed to deliver alprazolam with a single, normal breath, to rapidly terminate an epileptic seizure • Potential to be the first on-deman
Slide 9: Acute on-demand epilepsy seizure management
Acute on-demand epilepsy seizure management June 2020 - 9 Staccato® Alprazolam, an excellent fit consistent with UCB’s strategy Strengthening • US$ 125 million initial upfront payment* UCB’s current epilepsy portfolio • Further potential milestone payments of up to US$ 145 million - Total potential
Slide 10: UCB's sustainable financial performance
UCB's sustainable financial performance June 2020 - 10 Solid foundation to build future successes Top and bottom line growth... … driven by product growth € million € million
Slide 11: Strong underlying net sales growth
Strong underlying net sales growth June 2020 - 11 Strong performance of UCB's blockbusters: Cimzia® and Vimpat® Act (CER) 2019 FY net sales1 € 4 784 million +11% (+7% CER) Cimzia® € 1 712 million +18% (+14%) Driven by new patient populations Vimpat® € 1 322 million +20% (+15%) Strong, sustainable gr
Slide 12: Cimzia growth driven by new indications & WOCBA
Cimzia® growth driven by new indications & WOCBA June 2020 - 12 Increased peak sales: ≥ € 2 billion by 2024 2019 FY net sales: € 1 712 million (+18%; +14% CER) Cimzia®, the only anti-TNF which PsO 4% CD • is approved for non-radiographic (+> 100%) 10% EU U.S. axial spondyloarthritis (U.S.) (-8%) 25%
Slide 13: Evenity (romosozumab) in osteoporosis
Evenity® (romosozumab) in osteoporosis June 2020 - 13 An innovative bone-forming therapy now available to patients Net sales1 Launch 2019 FY U.S. US$ 42 million Why EVENITY®? EU2 • Unique dual effect on bone Germany, U.K., Austria & Sweden • Rapid improvement in Bone Mineral International Densit
Slide 14: Vimpat growth in all regions
Vimpat® growth in all regions June 2020 - 14 Increased peak sales: ≥ € 1.5 billion by 2022 1 322 > 663 000 patients using Vimpat® 1 099 976 U.S. Annual net sales in € millions EU 34% 822 679 42% 471 411 Int'l 334 Markets 24% 218 133 46 Latest news flow • Pediatric launch in Japan 2008 2009 2010 2011
Slide 15: Translating scientific hypotheses into clinical development
Translating scientific hypotheses into clinical development June 2020 - 15 Submission mid 2020 Immunology Neurology CIDP: Chronic Inflammatory Demyelinating Polyneuropathy 1 In partnership with HEALEY ALS Platform Trial IMNM: Immune-Mediated Necrotizing Myopathy 2 In partnership with University of G
Slide 16: Evolving understanding of overlapping disease highlights bimekizumab relevance
Evolving understanding of overlapping disease highlights June 2020 - 16 bimekizumab relevance Psoriatic diseases Spondyloarthritis Psoriatic ~30% patients living with arthritis ~40% patients living with ~1 % of population psoriasis progress to Psoriasis psoriatic arthritis have psoriatic arthritis ~
Slide 17: Bimekizumab in a competitive environment
Bimekizumab in a competitive environment June 2020 - 17 Delivering patient value, meeting patient needs Spectrum Speed Depth Durability of the diseases of onset of response of clinical effect PsA PASI PSO 100 Ax SpA HS PSO: psoriasis AxSpA: axial spondyloarthritis PsA: psoriatic arthritis HS: hidrad
Slide 18: Rozanolixizumab, novel targeted approach recycling IgG
Rozanolixizumab, novel targeted approach recycling IgG June 2020 - 18 Transforming disease burden for patients blocks FcRn receptors binding Proof of Confirmatory concept phase plasma IgG1 myasthenia gravis Resulting in the attenuation of IgG recycling, and thus removal of IgG autoantibodies (MG)
Slide 19: 2019 FY financial highlights
2019 FY financial highlights June 2020 - 19 Strong product growth and investment into future growth Actual CER Revenue € 4 913 million +6% +7% • Net sales up by 6% (+7% CER) to € 4.7 billion driven by core products Total operating expenses € 2 527 million +9% +6% • Marketing & selling expenses +15%
Slide 20: 6 years of topline & bottom line growth
6 years of topline & bottom line growth June 2020 - 20 Solid foundation enabling future growth & investment in innovation Revenue Recurring EBITDA 30% 30% 29% 4.9 4.5 4.6 25% 4.1 21% 3.9 18% 1.4 1.4 1.4 3.3 3.1 1.0 0.8 0.6 € billion € billion 2013 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 20
Slide 21: Investing into the right things
Investing into the „right things“… June 2020 - 21 … solid, sustainable financial foundations COGS R&D M&S G&A € million Net cash Operating expenses / revenue in % Net debt & net debt/rEBITDA ratio
Slide 22: Guidance updated upon closing of Ra Pharma acquisition
Guidance updated upon closing of Ra Pharma acquisition June 2020 - 22 Does not reflect any potential impacts from the evolving COVID-19 pandemic 2020 financial targets Mid-term guidance Revenue € 5.05 – 5.15 billion rEBITDA / revenue ratio of 31% in 2022 • Continued strong core products growth UCB i
Slide 23: Our purpose: to create value for patients, now and into the future
Our purpose: June 2020 - 23 to create value for patients, now and into the future For patients like For patients like Kristof, living For patients like Wendy, For patients like Victoria, living Hanneke, living with with axial spondyloarthritis living with lupus with psoriasis osteoporosis …and for p
Slide 24: Further facts and figures
Further facts and figures ua INspired by patients. Driven by science.
Slide 25: UCB Story – since 1928
UCB Story – since 1928 June 2020 - 25 Continuous adaptation to the changing ecosystem 1928 2004 Focus on biopharmaceuticals, a combination of large, antibody based molecules and small, chemically-derived molecules Acquisition of Celltech Group Ltd, a leading British biotechnology 80’s company 2008 D
Slide 26: UCB's patient value strategy
UCB's patient value strategy June 2020 - 26 We are UCB Sustainable company growth - Superior We are 7 606 employees focused shareholder value on creating value for patients Our ambition is to be the We bring Cimzia®, Vimpat®, patient preferred biopharma Keppra®, Briviact® & Neupro® leader, creating
Slide 27: Grow core products
Grow core products June 2020 - 27 Key information Cimzia® Vimpat® Keppra® Briviact® Neupro® • Crohn’s disease Epilepsy POS • Epilepsy POS Epilepsy POS • Parkinson’s • Rheumatoid arthritis • Adj. therapy • Epilepsy PGTCS • Adj. therapy disease • Psoriatic arthritis • Monotherapy • Epilepsy myoclonic
Slide 28: Grow core products
Grow core products June 2020 - 28 Lifecycle management Cimzia® Vimpat® Keppra® Briviact® Neupro® • PGTCS: Positive Phase 3 results (July 2019) • Epilepsy PGTCS (Japan – Feb • Epilepsy 2020) monotherapy • Epilepsy POS (China): (China – Aug 2019) o pediatric (incl. oral formulation – Sept 2018) o IV f
Slide 29: Cimzia
Cimzia® June 2020 - 29 Driven by new patient populations Net sales1 € million 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY Act CER For patients (including women 713 846 of child bearing age) living with U.S. 918 896 1 088 21% 15% • Rheumatoid arthritis Europe 296 339 370 400 429 7% 7% • Psoriatic arthrit
Slide 30: Cimzia in-market performance
Cimzia® in-market performance June 2020 - 30 U.S. Europe Japan Cimzia® vs. Rheumatology Cimzia® vs. Rheumatology Cimzia® vs. RA Market 15% Market Growth 1 13.4% 15% Market Growth 1 Growth 1 15% 10.4% 10% 10% 9.1% 10% +12.5% -3.8% 5.4% -7.6% 4.4% 5.3% 5% 5% 5% 0.9% 1.5% 0.6% 0% 0% 0% Anti TNF Biologi
Slide 31: Vimpat
Vimpat® June 2020 - 31 Strong, sustainable growth in all markets Net sales1 € million 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY Act CER For patients living with U.S. 513 629 746 822 1 001 22% 15% • Epilepsy – POS2 Europe 134 152 177 206 236 14% 14% • Adults, adolescents and children from 4 years of In
Slide 32: Vimpat in-market performance
Vimpat® in-market performance June 2020 - 32 U.S. Europe Japan Vimpat® vs. AED Market Growth (TRx) Vimpat® vs. AED Market Growth (TDx) 20% 20% 20% 15.4% 15% 15% 15% 10% 8.8% 10% 10% +12.2% +23.1% 5% 5% 3.2% 5% -1.7% +10.5% -1.1% 0% 0% 0% AED Market Vimpat® AED Market Vimpat® AED Market Vimpat® -5% -
Slide 33: Keppra
Keppra® June 2020 - 33 Mature, established brand Net sales1 € million 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY Act CER For patients living with U.S. 254 216 232 221 189 -14% -19% • Epilepsy – POS • Epilepsy – PGTCS Europe 250 237 235 216 196 -9% -9% • Epilepsy myoclonic International markets 233 267
Slide 34: Keppra in-market performance
Keppra® in-market performance June 2020 - 34 U.S. Europe Japan Keppra® vs. AED Market Growth (TRx) Keppra® vs. AED Market Growth (TDx) Keppra® vs. AED Market Growth (TDx) 5% 5% 3.2% 25% 0.3% 20% 18.0% 0% 0% 15% -1.7% -2.9% 10% -5.5% +19.1% -5% -5% 5% 0% -10% -7.2% -5% -1.1% -10% AED Market Keppra® A
Slide 35: Briviact
Briviact® June 2020 - 35 Available to more and more patients Net sales1 € million 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY Act CER For patients living with • Epilepsy – POS2 U.S. 11 63 109 170 56% 48% • Adults, adolescents and children from 4 years of Europe 7 22 29 45 53% 53% age (EU & U.S.) Interna
Slide 36: Briviact in-market performance
Briviact® in-market performance June 2020 - 36 A new therapeutic option in the AED market U.S. Europe Briviact® – R3M TDx Share Briviact® – R3M TRx Share 1.40% 1.40% 1.24% 1.20% 1.20% 1.00% 1.00% +0.4% 0.80% 0.80% 0.60% +0.1% 0.60% 0.37% 0.40% 0.40% 0.20% 0.20% 0.00% 0.00% Dec-18 Mar-19 Jun-19 Sep-1
Slide 37: Neupro
Neupro® June 2020 - 37 At its peak sales and with longer patent live Net sales1 € million 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY Act CER For people living with U.S. 79 85 96 101 97 -4% -9% • Parkinson’s disease • Restless legs syndrome Europe 150 161 168 174 170 -2% -2% International markets 29 52
Slide 38: Neupro in-market performance
Neupro® in-market performance June 2020 - 38 U.S. Europe Japan Neupro® PD vs. PD (KC) Neupro® vs. (KC) Neupro® PD vs. PD (KC) 10% Market Growth (TRx) 10% Market Growth (TDx) 10% Market Growth (TDx) 6.5% +0.4% 5% 5% 2.9% 5% +1.2% 1.0% 1.4% 0% 0% 0% +8.8% PD Market PD key Neupro® -0.2% -5% -5% competi
Slide 39: Focusing on markets with strong growth potential
Focusing on markets with strong growth potential June 2020 - 39 Psoriasis Psoriatic arthritis Axial Spondyloarthritis $ 23 billion EU5 4 $ 13 billion EU5 2 U.S. $ 8 billion $ 6 billion $ 5 billion $ 4 billion 19 U.S. EU5 EU5 EU5 EU5 2 1 1 11 U.S. 1 U.S. U.S. U.S. 4 6 3 5 2017 2027 2017 2027 2017 202
Slide 40: Bimekizumab Phase 3/3b development program in psoriasis
Bimekizumab Phase 3/3b development program in June 2020 - 40 psoriasis BE VIVID / PS0009 BE READY / PS0013 BE SURE / PS0008 BE RADIANT / PS0015 (vs ustekinumab) (vs placebo) (vs adalimumab) (vs secukinumab) NCT03370133 NCT03410992 NCT03412747 NCT03536884 Positive topline results Positive topline res
Slide 41: Psoriasis affects a significant portion of the population
Psoriasis affects a significant portion of the population June 2020 - 41 Prevalence1 Age2,3 Late teens–early Fifties Age, geographic thirties (type 2 PSO) region, and ethnicity (type 1 PSO) all influence an individual’s risk of developing PSO 45% 55% Two peaks of incidence Ethnicity Geographic regio
Slide 42: Bimekizumab Phase 3/3b development program in psoriasis
Bimekizumab Phase 3/3b development program in psoriasis June 2020 - 42 3 for 3 positive phase 3 results, superiority over active comparators Submission mid-2020 Phase 3 Phase 3 Phase 3 Phase 3b BE VIVID / PS0009 BE READY / PS0013 BE SURE / PS0008 BE RADIANT / PS0015 NCT03370133 NCT03410992 NCT034127
Slide 43: Bimekizumab: ambition to deliver best efficacy in skin
Bimekizumab: ambition to deliver best efficacy in skin June 2020 - 43 Psoriasis Phase 3 trials designed to demonstrate superiority week 16 20 24 28 32 36 40 44 48 52 56 BE SURE bimekizumab bimekizumab NCT03412747 bimekizumab bimekizumab PS0008 adalimumab adalimumab bimekizumab 450 patients Phase 3 t
Slide 44: Bimekizumab: for best in disease efficacy in skin and joints
Bimekizumab: for best in disease efficacy in skin and joints June 2020 - 44 Evaluating the bimekizumab potential Phase 3 Phase 3 Phase 3 Phase 3 BE OPTIMAL / PA0010 BE COMPLETE / PA0011 BE MOBILE1 / AS0010 BE MOBILE2 / AS0011 NCT03895203 NCT03896581 NCT03928704 NCT03928743 • 840 patients living with
Slide 45: Bimekizumab: for best in disease efficacy in skin and joints
June 2020 - 45 Bimekizumab: for best in disease efficacy in skin and joints Phase 3 programs started Q2 2019 Psoriatic arthritis week 16 52 BE OPTIMAL bimekizumab bimekizumab NCT03895203 adalimumab adalimumab Primary endpoint PA0010 placebo bimekizumab ACR50 @ week 16 840 patients BE COMPLETE NCT038
Slide 46: Bimekizumab: potential new treatment option for HS
Bimekizumab: potential new treatment option for HS June 2020 - 46 Evaluating the bimekizumab potential Phase 3 Phase 3 BE HEARD I / HS0003 BE HEARD II / HS0004 NCT04242446 NCT04242498 • 490 patients living with • 490 patients living with Hidradenitis Suppurativa Hidradenitis Suppurativa Duration • 5
Slide 47: Bimekizumab: Potential new treatment option for HS
June 2020 - 47 Bimekizumab: Potential new treatment option for HS Phase 3 identical programs started February 2020 week 16 52 BE HEARD I bimekizumab bimekizumab NCT04242446 bimekizumab bimekizumab Primary endpoint HS0003 bimekizumab bimekizumab 490 patients placebo bimekizumab HiSCR50 @ week 16 BE H
Slide 48: Rozanolixizumab potential in multiple IgG autoantibody-mediated diseases
Rozanolixizumab potential in multiple IgG autoantibody- June 2020 - 48 mediated diseases with high unmet medical need Myasthenia gravis Immune thrombocytopenia Chronic inflammatory demyelinating polyneuropathy Antibodies target components of Antibodies target platelets and Antibodies target componen
Slide 49: Rozanolixizumab Phase 3 development program
Rozanolixizumab Phase 3 development program June 2020 - 49 Myasthenia gravis Immune thrombocytopenia (MG0003 / NCT03971422) (TP0003 / NCT04200456) 240 patients with moderate to severe MG 105 patients with moderate to severe ITP • diagnosis of MG @ screening • Platelet count <30K/L • be considered fo
Slide 50: Rozanolixizumab Phase 2a development program
Rozanolixizumab Phase 2a development program June 2020 - 50 Proof of concept achieved in MG & ITP – CIDP ongoing Myasthenia gravis Immune thrombocytopenia CIDP (MG0002 / NCT03052751) (TP0001 / NCT02718716) (CIDP01 / NCT03861481) 43 patients with moderate to severe 66 patients with primary ITP 34 pat
Slide 51: UCB0107, anti-Tau antibody for Progressive Supranuclear Palsy
UCB0107, anti-Tau antibody for Progressive Supranuclear Palsy June 2020 - 51 Positive phase 1 – move to confirmatory phase in PSP in 2020 Key facts Key insights UCB0107 blocks tau uptake and aggregation UCB0107 was generated Tau seeds spread from dying cells to block spreading of tau to infect other
Slide 52: Recurring EBITDA
Recurring EBITDA June 2020 - 52 Numbers may not add due to rounding EBIT: Earnings before interest and taxes CER: constant exchange rate EBITDA: Earning before interests, taxes, depreciation and amortization charges
Slide 53: Profit
Profit June 2020 - 53 Numbers may not add due to rounding CER: constant exchange rate EBIT: Earnings before interest and taxes
Slide 54: Core earnings per share
Core earnings per share June 2020 - 54 Numbers may not add due to rounding CER: constant exchange rate
Slide 55: Strong cash flows
Strong cash flows June 2020 - 55 Cash flow from continuing operations Net debt Net debt / rEBITDA ratio € million € million Net cash CAGR: composite annual growth rate EBITDA: Earning before interests, taxes, depreciation and amortization charges
Slide 56: Debt maturity schedule (@ 31 December 2019)
Debt maturity schedule (@ 31 December 2019) June 2020 - 56
Slide 57: UCB new organization
UCB new organization June 2020 - 57 Our people are key to deliver on our ambition FUNCTIONS Corporate Development & Finance - 362 Supply & Technology Legal & Risk - 141 Solutions Talent & Company Reputation - 197 2212 Early Solutions 628 CEO 7 606 office 16 Development employees worldwide Solution N
Slide 58: One UCB today: A global player
One UCB today: A global player June 2020 - 58 Presence in 38 countries complemented by a robust network of partners 7 606 employees worldwide 50/50 1 069 12% Women / Men New colleagues Employee turnover Situation at 31 December 2019 For more details about UCB employees, refer to UCB 2019 integrated
Slide 59: UCB Green strategy
UCB Green strategy June 2020 - 59 Our environmental targets by 2030 CO2 emissions Water consumption Waste production - 35% - 20% - 25% For more details about UCB environmental footprint, refer to UCB 2019 integrated annual report
Slide 60: Corporate governance
Corporate governance June 2020 - 60 Board of Directors • 13 members • Mandate: 4 year • Age limit: 70 • 5 women (38%) • 7 independent directors (54%) • 5 nationalities ● Women ● Men ● Belgium ● France ● U.K. ● U.S. ● Denmark / Sweden Status post 2019 AGM For more details about diversity @ Board leve
Slide 61: Corporate governance
Corporate governance June 2020 - 61 Executive Committee • 9 members • Jean-Christophe Tellier, CEO since 2015 • 2 women (22%) • 5 nationalities ● Women ● Men ● Belgium ● France ● Germany ● U.K. / South Africa ● U.S. Status at 1 February 2020, new CFO to join July 1, 2020 For more details about diver
Slide 62: Stable shareholder base with free-float of 62%
Stable shareholder base with free-float of 62% June 2020 - 62 Weighted average shares outstanding in 2019: 187 million “Free float” by region Source: Latest notifications, FactSet and UCB underlying ownership analysis (October 2019)
Slide 63: UCB Investor Relations team
UCB Investor Relations team June 2020 - 63 ןAntje Witte • Head of Investor Relations • Phone: +32 2 559 9414 Check out our IR App & • E-mail: [email protected] stay tuned to UCB wherever you go! ןIsabelle Ghellynck • Investor Relations Lead • Phone: +32 2 559 9588 • E-mail: isabelle.ghellync