INVESTOR PRESENTATION - VIFOR PHARMA
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PRESENTATION
VIFOR PHARMA
INVESTOR PRESENTATION
December 2018
VIFOR PHARMA
OUR VISION
Global Leader
in Iron Deficiency, Nephrology
and Cardio-Renal Therapies.
© Vifor Pharma December 2018 2
EXPERIENCED LEADERSHIP TEAM
PROVEN TRACK RECORD
ETIENNE JORNOD STEFAN SCHULZE COLIN BOND
EXECUTIVE CHAIRMAN PRESIDENT OF THE EXECUTIVE CHIEF FINANCIAL OFFICER
OF THE BOARD OF DIRECTORS COMMITTEE & COO
© Vifor Pharma December 2018 3
PROVEN TRACK RECORD
CORPORATE TIMELINE AND STRATEGY
2020
2015
2010
2000 BECOMING GLOBAL LEADER
IN NEPHROLOGY AND ENTERING
BECOMING GLOBAL LEADER
CARDIO-RENAL DISEASE AREA
BUILDING IRON PORTFOLIO IN IRON DEFICIENCY AND
AND INTERNATIONAL EXPANSION ENTERING INTO NEPHROLOGY • 2015: Mircera® License
• 2000: Venofer® US FDA approval • 2015: Veltassa® License
• 2010: Creation of VFMCRP • 2016: Four Licensing Deals
• 2007: Launch of Ferinject®
• 2013: Injectafer® – FDA approval • 2016: Relypsa Acquisition
• 2008: Acquisition Aspreva
• 2013: Launch of Velphoro® • 2017: Galenica Santé IPO
• 2008: Creation of EU affiliates
• 2009: Acquisition OM Pharma • 2017: Vadadustat License
• 2017: Veltassa® EU approval
• 2017: Mircera® license expansion
• 2018: CR845 License
© Vifor Pharma December 2018 4
LEADING PORTFOLIO IN TARGET DISEASE AREAS
Iron
Nephrology Cardio-Renal
Deficiency
Own
Products
In-licensed
Avacopan1) CCX1401)
Products 1)
Vadadustat1) CR8451)
1) Pre-commercial products
© Vifor Pharma December 2018 5THREE STRATEGIC GROWTH DRIVERS
Ferinject®
Exploit the Potential through Market Awareness
Vifor Fresenius Medical Care Renal Pharma
Grow and Enhance Value
Veltassa®
Build a Blockbuster
© Vifor Pharma December 2018 6FERINJECT®
SIGNIFICANT MARKET OPPORTUNITY REMAINS 1)
Ferinject® In-Market Volume Growth Ferinject® Volume Per Capita2)
Launch Date
5% Switzerland 253 2008
33% Australia 107 2011
47% New Zealand 51 2012
16% Sweden 36 2008
16% Germany 34 2007
39% Spain 29 2009
16% France 22 2011
22% UK 22 2008
53% Italy 22 2012
45% U.S. 12 2013
0% Japan 0 2019
0% China 0 2021
1) Based on Quarterly IQVIATM MIDAS® panel, GERS, Insight Health, Moving Annual Total (MAT) Q2 2017-18
2) 100 mg eq./1’000 population
© Vifor Pharma December 2018 7FERINJECT®
A BLOCKBUSTER BY 2020
FERINJECT ® IN-MARKET
GLOBAL I.V. IRON Q2 1)2018)
SALES
MARKET (MAT (MCHF)
1) IN-MARKET SALES1)
CHF MILLION
• Market totalled CHF 1’698 million, +15% versus prior year period
• Ferinject® growth represented 88% of the total market growth, with +32% versus prior year period 850-880
• Global market share of Ferinject® in value is 47% (54% in our top 10 markets)
692
535
374
240
123 163
58 81
16 38
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018E2)
Launch in FAIR-HF FERGI-COR PREFER study FIND-CKD CONFIRM- New EU New ESC Intensifying PIVOTAL
CH, UK, study study (fatigue) study (ND- HF study onco guidelines promotional study
Spain (cardio) (gastro) CKD) (cardio) guidelines (cardio) effort by (Dialysis)
New EU
Daiichi
guidelines: Injectafer® EFFECT-HF
Sankyo
nephro, cardio, approved study
gastro, onco in the USA (cardio)
Europe US ROW
MAT = Moving annual total
1) Based on Quarterly IQVIATM MIDAS® panel, GERS, Insight Health, DLI, historical data at constant exchange rate (average 2017) 2) Estimate based on IQVIATM
© Vifor Pharma December 2018 8FERINJECT®
THE BLOCKBUSTER PLAN
Therapeutic • Heart Failure Strong • Partnering with leading
areas with high • Gastroenterology partnerships companies in and outside
unmet need of Europe
• Nephrology
• Patient Blood Management
Geographic • Japan (2019) Life Cycle • AFFIRM-AHF
expansion • China (2021) Management • HEART-FID
• Key pharmerging markets
© Vifor Pharma December 2018 9VIFOR FRESENIUS MEDICAL CARE RENAL PHARMA
THE RATIONALE
55% Stake
STRONG IRON AND PHARMA EXPERTISE
1)
CCX1401)
Avacopan1)
CR8451) Vadadustat1)
GLOBAL LEADER IN DIALYSIS
45% Stake
1) Pre-commercial products
© Vifor Pharma December 2018 10VIFOR FRESENIUS MEDICAL CARE RENAL PHARMA
SYNERGISTIC PARTNERSHIP
55% Stake
STRONG IRON AND PHARMA EXPERTISE
Sourcing of innovation
Evaluation of clinical assets
Acceptance of clinical risk
Regulatory and market access expertise Focus on pharma needs of nephrology patients – Global Leader
Access to patient data. Faster clinical trial execution
Faster uptake and utilisation
GLOBAL LEADER IN DIALYSIS
Partnership technically controlled by Vifor Pharma
Managed care expertise
Patient access (>300k patients)
Validation of innovation
Medications in FKC clinics1) become SoC2)
45% Stake
1) Fresenius Kidney Care (FKC): Fresenius Medical Care North America dialysis provider organization
2) Standard of care
© Vifor Pharma December 2018 11VIFOR FRESENIUS MEDICAL CARE RENAL PHARMA
CURRENT PORTFOLIO
ANAEMIA MINERAL & BONE KIDNEY CKD-ASSOCIATED CARDIO-RENAL
MANAGEMENT MANAGEMENT PROTECTION COMPLICATIONS MANAGEMENT
Avacopan1) CR8451)
CCX1401)
1)
Vadadustat1)
1) Pre-commercial products
© Vifor Pharma December 2018 12NEPHROLOGY
LEADERSHIP ON THE WHOLE NEPHROLOGY CHAIN
PRE CLINICAL CLINICAL / PRE-COMMERCIAL
PARTNERSHIP IN-LICENSING DEALS AND PARTNERSHIPS
Avacopan
DATA GENERATION
CCX140
CR845 Vadadustat
COMMERCIAL
PRE DIALYSIS DIALYSIS TRANSPLANTATION
© Vifor Pharma December 2018 13VELTASSA®
OVERVIEW OF KEY FEATURES
Mode of action High safety profile
Calcium-based, non-absorbed Limited undesirable effects
52-weeks data RAASi enabling
AMETHYST-DN study Included in SmPC1) in Europe
Broad use Room temperature storage
Acute & Chronic US: 3 months / EU: 6 months
1) SmPC = summary of product characteristics
© Vifor Pharma December 2018 14VELTASSA®
ADDRESSES LIFE THREATENING UNMET MEDICAL NEED
MORTALITY AND CARDIAC ARREST IN IN-HOSPITAL EVENTS VS SERUM K+ DISEASE BACKGROUND
Hypokalemia Normal Hyperkalemia Prevalent in CKD and CHF
patients
60
Death
Asymptomatic
in-hospital events (%)
AMI patients with
Inhibits use of renin
angiotensin aldosterone
inhibitors (RAASi)
Disease awareness is
underdeveloped
0
3.0 3.5 4.0 4.5 5.0 5.5
Post admission serum potassium level (mean, mEq/L)
© Vifor Pharma December 2018 15VELTASSA® U.S. RAMP-UP
KEY CONSIDERATIONS
3 MILLION HYPERKALEMIA PATIENTS IN THE U.S. U.S. MARKET OPPORTUNITY
• 3 million potential patients
12
10.7 • Gross price of USD 820 per month
10 • Targeted duration of treatment: 6 months
• 10% treated with Veltassa®
Patients (in million)
8
= USD 1 billion in net sales (blockbuster)
6
4.7
Key drivers of success:
4
• Awareness ✓
2.3
2 1.7 • Access ✓
0.8
0.5 • Duration of treatment ✓
0
CKD 3-4 only CKD 3-4 with HF HF only • Coverage ✓
Total Prevalence With hyperkalemia
Source: USRDS 2013 ADR, CDC
© Vifor Pharma December 2018 16VELTASSA®
TOTAL US DEMAND PER BUSINESS DAY (BD)
• Demand growth: +81% year over year
700
• Global net sales: CHF 36.8 million (+51.8%) in H1 2018
600
• 88% of lives covered, Medicare coverage increased to 64%
• Amber study expected to be completed in 2018
Demand (boxes) per BD
500
400
300
200
100
0
© Vifor Pharma December 2018 17R&D INVESTMENTS
“MILESTONE 2020” STRATEGIC PLAN
PHASE 1 PHASE 2 PHASE 3 COMMERCIAL PHASE 4
AFFIRM-AHF
Ferroportin inhibitor1) 2019
Own
Products Paediatric
AMBER
DIAMOND
Anti-infectives
In-licensed 2019
Products
Avacopan 20192)
CCX140
Vadadustat3)
CR845
1) Iron overload; leveraging iron metabolism expertise 2) Earlier launch possible due to EMA conditional marketing approval 3) Filing expected by the end of 2019
© Vifor Pharma December 2018 18FINANCIAL HIGHLIGHTS 1)
NET SALES EBITDA FERINJECT®/INJECTAFER®
+23.4% +44.5% +29.3%
CORE EPS2) NET DEBT (in million CHF) EQUITY RATIO
2.66 127.5 80.0%
1) Half-year results 2018
2) Reported earnings after minorities adjusted for amortisation of intangible assets to normalise for the significant impact from the acquisition of Relypsa.
© Vifor Pharma December 2018 19GUIDANCE 2018
NET SALES AND EBITDA GUIDANCE INCREASED
In 2018 at constant exchange rates Vifor Pharma net sales are expected to grow
by more than 15% and reported EBITDA by more than 25%.
In 2020 net sales are expected to exceed CHF 2 billion and EBITDA to reach a high triple-digit
level.
For 2018 and 2019, the dividend is expected to be at the same level as for 2017. From 2020
onwards, the payout ratio is targeted at 35% of net income.
© Vifor Pharma December 2018 20OUTLOOK 2018
PRODUCT Veltassa® commercial launch in key European countries
LAUNCHES Avacopan CMA1) approval in Europe late 2018/early 2019
Veltassa® partnering in Japan
PARTNERING
Partnering the Japanese rights for CCX 140
IN-LICENSING Completion of one additional in-licensing deal during the course of 2018
Veltassa®: completion of the AMBER study for treatment of patients with resistant hypertension
CLINICAL Veltassa®: initiation of the DIAMOND outcome study for RAASi enabling
Ferroportin inhibitor: completion of phase-I study
1) Conditional Marketing Approval
© Vifor Pharma December 2018 21CONTACT INFORMATION
Colin Bond – CFO
Phone: +41 58 851 83 53
Email: colin.bond@viforpharma.com
INVESTOR RELATIONS
Julien Vignot
Phone: +41 58 851 66 90
Email: julien.vignot@viforpharma.com
Laurent de Weck
Phone: +41 58 851 80 95
Email: laurent.deweck@viforpharma.com
© Vifor Pharma December 2018 22DISCLAIMER Certain statements, beliefs and opinions in this presentation are forward-looking, which reflect the Company’s or, as appropriate, the Company’s directors’ current expectations and projections about future events. By their nature, forward- looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward-looking statements contained in this presentation regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this presentation as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. Neither the Company nor its advisers or representatives nor any of its of their parent or subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this presentation or the actual occurrence of the forecasted developments. You should not place undue reliance on forward- looking statements, which speak only as of the date of this presentation. © Vifor Pharma December 2018 23
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