Slide 1: VIATRIS: A New Champion for Global Health
V VI IA AT TR RIIS S: : A A N Ne ew w C Ch ha am mp pi io on n f fo or r G Gllo ob ba all H He ea allt th h J Ja an nu ua ar ry y 2 20 02 20 0 IIn nv ve es stto or r P Pr re es se en ntta attiio on n 1V VI IA AT TR RIIS S: : A A N Ne ew w C Ch ha am mp pi io on n f fo or r G Gllo ob ba all H He ea a
Slide 2: Forward-Looking Statements
Forward-Looking Statements This communication contains “forward-looking statements”. Such forward-looking statements may include, without limitation, statements about the proposed combination of Upjohn Inc. (“Newco”) and Mylan N.V. (“Mylan”), which will immediately follow the proposed separation of
Slide 3: Additional Information and Where to Find It
Additional Information and Where to Find It This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale
Slide 4: Speakers
Speakers Robert Coury Michael Goettler Rajiv Malik Executive Chairman Chief Executive Officer President • As VIATRIS’ Executive Chairman, • As Chief Executive Officer, will lead • As President of VIATRIS, will report will lead the Board and strategic direction VIATRIS and be responsible for the to t
Slide 5: Access Leadership Partnership
ACCESS LEADERSHIP PARTNERSHIP Empowering people worldwide to live healthier, at every stage of life. 5ACCESS LEADERSHIP PARTNERSHIP Empowering people worldwide to live healthier, at every stage of life. 5
Slide 6: The New Reality
The New Reality… What the World is Facing What the Marketplace Needs • Greater portion of the World’s population with medical • Broad portfolio across geographies and therapeutic needs (i.e. aging population, growing middle class) areas/diseases and technologies • Growing disease cost burden, increa
Slide 7: A New Kind of Global Player
…A New Kind of Global Player ACCESS LEADERSHIP PARTNERSHIP 7…A New Kind of Global Player ACCESS LEADERSHIP PARTNERSHIP 7
Slide 8: With a Powerful Foundation
…With a Powerful Foundation In Addition to Presence in Developed Global Footprint in US, Europe and Enhanced Global Scale and Markets, Uniquely Scaled Footprint Asia Markets Geographic Reach in Asia and the Emerging Markets Diverse Portfolio Across all Key Sustainable, Diverse and Trusted, Iconic Of
Slide 9: VIATRIS Will Offer a Unique Global Healthcare Gateway
VIATRIS Will Offer a Unique Global Healthcare Gateway Broad Global Commercial Reach Across Channels &TAs Empowering people Global Supply worldwide Network to live healthier, Expansive Technical at every Expertise stage of life Cost Efficient Operating Platform Partner of Choice Creating better value
Slide 10: Unparalleled Global Reach Enables Delivery Across Multiple Channels
…and Unparalleled Global Reach Enables VIATRIS to Deliver Products Across Multiple Channels Global Commercial Platform 165+ 1,100+ Countries & Marketing Territories professionals 60,000+ 1,400+ Customers Molecules 13,000+ ~30,000 Sales force SKUs 10…and Unparalleled Global Reach Enables VIATRIS to D
Slide 11: Delivered Through a Unique Global Platform
…Delivered Through a Unique Global Platform Strong Technical Resources Truly Global Supply Network R&D, Quality, Medical, PV, with local proximity & Regulatory across the globe Optimized Operating and Medical Capabilities ~50 80B+ Manufacturing sites Doses produced 60+ 2,500+ Distribution Networks S
Slide 12: Fueling Our Future Growth
Fueling Our Future Growth A Focus on Actively Expanding Innovative Partnerships Complex Products Biologics Respiratory Significant partnership track record of leveraging each other’s capabilities and strengths 12Fueling Our Future Growth A Focus on Actively Expanding Innovative Partnerships Complex
Slide 13: A Proven Track Record of Addressing Unmet Needs Through Complex Science
A Proven Track Record of Addressing Unmet Needs Through Complex Science DPI Respiratory Complex Injectable NCE Fluticasone propionate / Glatiramer Acetate Revefenacin Salmeterol (Advair) Injection (Copaxone) (Yupelri) Continuing to Execute Up the Value Continuum Insulin Biosimilars Glargine (Lantus)
Slide 14: Sustainable, Diverse and Differentiated Portfolio
Sustainable, Diverse and Differentiated Portfolio OTC 6% Biologics 4% U.S. Generic 15% Brand 56% Ex-U.S. Generic 19% Expected Combined Revenue 14Sustainable, Diverse and Differentiated Portfolio OTC 6% Biologics 4% U.S. Generic 15% Brand 56% Ex-U.S. Generic 19% Expected Combined Revenue 14
Slide 15: Synergies
Synergies Cost Synergies: Expected to Achieve Annually by Year Four ~$1bn COGS G&A S&M % % % ~40 ~40 ~20 of total of total of total Key Areas Key Areas Key Areas • Transition Services Agreement • Transition Services Agreements • Optimization of Network • Elimination of Duplicate Infrastructure • Eli
Slide 16: Stronger Business Model
Stronger Business Model Transformational combination strengthens balance sheet, enhances financial flexibility and transitions to a shareholder return focused capital allocation model 1 Financial Flexibility Leverage Target: 3.0x Leverage Target: ≤2.5x Expected dividend ≥ 25% of free cash flow No di
Slide 17: Clear Roadmap of Execution to Optimize Total Shareholder Return
Clear Roadmap of Execution to Optimize Total Shareholder Return (TSR) Years Transaction Close 0 1 2 3 4 5 6 7+ INTEGRATION Operations PRODUCT LAUNCHES ~$3bn Business New Pipeline Execution Launches COST SYNERGIES Synergies REVENUE SYNERGIES Leverage RAPID DELEVERAGING SHARE REPURCHASES Capital Retur
Slide 18: Expected Attractive Financial Profile
Expected Attractive Financial Profile Selected Large Cap Pharma VIATRIS Selected Spec Pharma / Generics ü More Balanced Risk Profile $227 $216 ü Robust Balance Sheet $143 $132 $119 1 ~$25 $15 $11 $10 $7 $6 $1 2020E EBITDA 2 5 Margin 43% 34% 55% 35% 32% ~40% 23% 30% 28% 20% 27% 24% Avg. Est. Gross ≤
Slide 19: Potential Opportunity to Deliver Significant Shareholder Value
Potential Opportunity to Deliver Significant Shareholder Value In addition to returning significant capital to shareholders, VIATRIS has the opportunity to unlock shareholder value through multiple expansion 1 Implied VIATRIS Share Price Illustrative VIATRIS EBITDA ($bn) 7.0 7.5 8.0 8.5 $20 $23 $26
Slide 20: On-Track for Mid-2020 Close
On-Track for Mid-2020 Close ü q Ongoing Integration Planning qü Announce New Company Name qü Determined that VIATRIS will be Listed on Nasdaq ü q Commenced VIATRIS Director Appointments q Announce VIATRIS Chief Financial Officer q Receive Mylan Shareholder Approval q Receive Regulatory Approvals Acr