Chemical Works Of Gedeon Richter Plc · BET:RICHTER
Chemical Works Of Gedeon Richter — Gedeon Richter — Investor Presentation (May 2025)
65 slides from Chemical Works Of Gedeon Richter's investor presentation, May 2025
Slide 1: Investor presentation May 2025
Investor presentation May 2025
Slide 2: Richter at a glance
Richter at a glance 120+ Years ~11,800 8 41 EUR 2.2bn history employees manufacturing commercial and sales revenue in 2024, sites marketing in 4 business units companies 614 Neuropsychiatry | CNS 724 Vraylar® 200+ 2nd position EUR ~5.0bn Women’s healthcare |WHC 46th best-selling molecules in Women's
Slide 3: Our Vision for 2035
Our Vision for 2035 We improve quality of life globally with a special focus on women and mental health patients We concentrate on the development, Innovative manufacturing and commercialization of Pharma pharmaceuticals Global recognition & only Affordable Our innovative solutions elevate therapeut
Slide 4: Innovative and Affordable approach driven by therapeutic area focus
Innovative and Affordable approach driven by therapeutic area focus INNOVATIVE AFFORDABLE We aspire to become thought leaders globally and to build Our aim is to provide reasonably priced products a portfolio of leading therapies accessible to a wide range of people, ensuring equitable access and su
Slide 5: Multiple levers of Revenue growth and Margin improvement
Multiple levers of Revenue growth and Margin improvement 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Maximizing potential of current portfolio and indications (Contraception, Endometriosis, Fertility, Menopause) 2nd wave of 1st wave of new products in existing segments new products and PC
Slide 6: Women’s Healthcare
Women’s Healthcare WHC GEDEON RICHTER
Slide 7: WHC to become the largest cEBIT contributor by 2035
WHC to become the largest cEBIT contributor by 2035 EXPAND THERAPEUTIC SEGMENTS DOUBLE REVENUE THOUGHT LEADERS IN WOMEN'S HEALTHCARE Focus on growth of established TAs Double Revenue, double R&D (Contraception, Fertility, Endometriosis, investment, and improve EBIT margin Address unmet medical needs
Slide 8: Women’s Healthcare – rich in history, full of ambitions
Women’s Healthcare – rich in history, full of ambitions Foundation Expansion Acceleration 1901 1902 1908 1930 1966 1994 2010 2010 2013 2015 2016 2017 2018 2020 2021 2022 2023 2024 Publicly Richter-Grünenthal, Lenzetto® innovativ License and supply Acquisition of Crystaline oestron Foundation Tablett
Slide 9: WHC at a glance at Richter
WHC at a glance at Richter Global WHC Revenue (EUR mn) Europe WHC market share Global WHC Coverage Contraception Market share compared GEDEON RICHTER Fertility 724 to the market lead Menopause 669 48 competitor (%) 42 68 Endometriosis 582 40 75 73% Others 33 42 62 22 461 34 101 92 70 69% 433 432 29
Slide 10: Seven strategic Therapeutic segments defined in WHC
Seven strategic Therapeutic segments defined in WHC Our traditional Therapeutic segments New strategic Therapeutic segments Women’s Contraception Endometriosis Menopause Fertility Urinary tracts PCOS oncology Largest WHC Key strategic Recent co High growth- Major diseases Leading Most attractive rev
Slide 11: Contraception — the leading provider in Europe
Contraception — the leading provider in Europe Market potential and position Our product portfolio European market share (%) in regular Oral contraception (in cycles) Among the 1.9bn women of contraceptives GEDEON RICHTER Competitor 2 Competitor 4 reproductive age (15–49 years) Drovelis: License
Slide 12: Fertility — a broad portfolio for infertility specialists
Fertility — a broad portfolio for infertility specialists Market potential and position Our product portfolio Age-related decline in infertility in women and men8 r-hFSH* Global sales of infertility treatment 1.0 women are estimated to be USD 1.9bn in men 2024 and are anticipated to reach 0.8 US
Slide 13: Menopause — protected brands on a high-growth market
Menopause — protected brands on a high-growth market Market potential and position Our product portfolio The growth of menopause market in Europe (EUR mn) Menopause is an area of high unmet Transdermal delivery 180 need globally. 160 Based on the age distribution of the 140 population and shar
Slide 14: Endometriosis — leading original therapy
Endometriosis — leading original therapy Market potential and position Our product portfolio Number of patients treated with Ryeqo® Globally, 190mn women are Original GnRH antagonist combination 70 000 Endometriosis suffering from endometriosis. indication 60 000 Currently no cure exists, and tr
Slide 15: Pipeline delivery built on the Innovative research hubs
Pipeline delivery built on the Innovative research hubs Richter R&D Innovation center – Budapest Estetra SRL – Liege • Basic research, 30+ years of • Assets and licenses knowledge in small acquired from Mithra molecule discovery Group • Wide range of synergies on • Development lead platform early an
Slide 16: Neuropsychiatry
Neuropsychiatry CNS 16 16
Slide 17: CNS at a glance at Richter
CNS at a glance at Richter Proven track record of Cariprazine ~1.7 million patients treated worldwide through our network AbbVie – Vraylar net sales (USD mn) Gedeon Richter 3 500 * CEE & RU/CIS, +20% 3 267 Recordati – Vietnam WEU & 2 670 Tunisia 1 978 WhanIn AbbVie Dexcel 1 681 Israel South Korea US
Slide 18: Our focus is on disease symptom domains with high prevalence
Our focus is on disease symptom domains with high prevalence GR’s focus diseases GR’s target symptoms Loss of motivation, social withdrawal 7% Major Depression Negative symptoms 2.9% Generalized Anxiety Disorder Problems with executive Cognitive Affective Changes in emotional 2.8% functioning, focus
Slide 19: The success of cariprazine
The success of cariprazine • Oral, once daily atypical antipsychotic discovered by Richter and co-developed with Forest Laboratories (acquired by AbbVie) • Approved indications: USA (Vraylar®): schizophrenia, bipolar mania, bipolar depression, adjunctive therapy to antidepressant for major depressiv
Slide 20: Key Vraylar competitors in the US
Key Vraylar® competitors in the US Major Depression API Bipolar Bipolar Schizophrenia (adjunctive Other indications & information (Brand, Originator) Mania Depression therapy) Cariprazine (Vraylar; AbbVie/Richter) Agitation in Alzheimer's-type Dementia; Brexpiprazole PTSD is filed for ap
Slide 21: Healthy pipeline includes partnered and stand-alone projects
Healthy pipeline includes partnered and stand-alone projects Revenue aspirations from current projects (snapshot, subject to change) Key highlights • Healthy pipeline that Expected gives us confidence we revenue can manage Cariprazine LoE* AbbVie 2022 collaboration effects AbbVie 2024 Cariprazine co
Slide 22: General Medicines
General Medicines GM GEDEON RICHTER
Slide 23: GenMed’s ambition is to establish generics excellence
GenMed’s ambition is to establish generics excellence DOUBLE REVENUE IMPROVE FRESHNESS OF OPERATIONAL EXCELLENCE OUR PORTFOLIO Double revenue by 2035, reach over Continuously bring new products to Run focused cost excellence programs 20% profitability, and remain a key market and improve the freshne
Slide 24: GenMed at a glance
GenMed at a glance GenMed Revenue EUR mn GenMed cEBIT EUR mn GenMed geographic coverage 6.7% CAGR: +6.5% 21% HU 634 128 PL 594 44% 574 113 13% RO 529 103 101 Other CE*** 48.6% 22% 44.7% RU 14% UKR 8% UZB Central Europe 10% 62% KAZ 7% Eastern Europe Other 2021 2022 2023 2024 2021 2022 2023 2024 EEU**
Slide 25: Clear focus set regarding therapeutic areas
Clear focus set regarding therapeutic areas AFFORDABLE PILLAR GENMED BIOTECH Traditional Generic therapeutic Loss of exclusivity-driven strategic areas therapeutic areas Cardiovascular Blood therapies Musculoskeletal Traditional CNS Diabetes and Obesity Immunology We have a wide portfolio coverage i
Slide 26: Harnessing speed and scale and rolling it out to Western Europe
Harnessing speed and scale and rolling it out to Western Europe Our aim is to strengthen Generics Excellence at HQ level Broaden our geographic reach to Western Europe • Pursue Portfolio management excellence; BD+L* • Expand our operational excellence • Enhance Development and Regulatory excellence
Slide 27: Strategic ambitions for 2030 and 2035
Strategic ambitions for 2030 and 2035 Doubling cEBIT margin R&D Spend to Revenue Revenue 634 1,300+ 16% 20%+ 5% 7% mn EUR mn EUR 2024 2035 2024 2030 Top5 in key 2024 2030 Freshness countries in index* the core region 8.4% 15%+ 1 4 2024 2030 2024 2035 27 *Freshness index: Revenue share of products la
Slide 28: Biotechnology
Biotechnology BIO GEDEON RICHTER
Slide 29: Fastest growing segment to reach scale and become profitable
Fastest growing segment to reach scale and become profitable STRONG DOUBLE-DIGIT STRONG BIOTECH ENHANCED PARTNERING REVENUE GROWTH PORTFOLIO AND PIPELINE Aspiring double-digit growth and Launch 8 own developments Further build on existing commercial reaching break-even by 2027 establishing ourselves
Slide 30: Biotech at a glance at Richter
Biotech at a glance at Richter Global Biotech Revenue EUR mn Global Teriparatide partner network 137 121 105 70 57 53 64 67 52 Teriparatide CDMO 2022 2023 2024 R&D Capability Production sites Number of own Affiliates • Cell line development • Microbial DS* manufacturing facilities – 2 sites in Germa
Slide 31: Biotech therapeutic areas are focusing on niche market segments
Biotech therapeutic areas are focusing on niche market segments AFFORDABLE PILLAR BIOTECH GENMED Musculoskeletal Immunology Cardiovascular Skin affected Traditional CNS Rheuma- Atopic Psoriatic Psoriatic toid dermatitis arthritis arthritis Axial Blood therapies Osteo- Coltis Morbus spondylo- porosis
Slide 32: Building a strong Biotech pipeline
Building a strong Biotech pipeline Biotech portfolio and product pipeline Key Highlights • Two existing biosimilars on the market with a global commercial footprint (Bemfola part of WHC) • Healthy development pipeline with 4 brands to be launched in the next 2 years • Multiple products to be markete
Slide 33: Richter BioLogics Germany – Increased production capacity
Richter BioLogics Germany (RB) – Increased production capacity for microbially expressed Biopharmaceuticals Complete Drug Substance Development & Manufacturing from one Source Strain Development Process Development / Process Transfer Clinical Trial Supply Commercial / Optimization Analytical Develop
Slide 34: Mammalian cell expressed DS and DP manufacturing facilities – Debrecen
Mammalian cell expressed Drug Substance (DS) and Drug Product (DP) manufacturing facilities – Debrecen DS DP • 2 x 5000 L stainless steel • Syringe, cartridge, vial filling fermentation capacity (RABS) • 4 x 2000 L single use • Automated freeze drying & 2 x 50 L pilot scale • Variable batch sizes bi
Slide 35: Research and Development
Research and Development R&D 35 35
Slide 36: R&D pipeline – changes during Q1 2025
R&D pipeline – changes during Q1 2025 Market Preclinical phase Clinical phase Regulatory & Launch Phase 1 Phase 2 Phase 3 Own Technology Development Clinical phase Neuropsychiatry Biotechnology Women’s Healthcare Own RSL* General Medicines new discontinued License 36 * Ready-to-Sell Licensed pipelin
Slide 37: Sustainability
Sustainability 37 37
Slide 38: The role and place of ESG in Richter
The role and place of ESG in Richter ESG Governance and main supporting functions Women on Board Supervisory Board Board of Directors Board of Directors 40% ESG Committee CEO 33% Ratio of women amongst managers (all levels): 36% IR and ESG Ratio of women in total workforce: 49% EHS Focus areas in ES
Slide 39: Sustainable and scalable growth with purpose
Sustainable and scalable growth with purpose ACCESS TO HEALTH Focusing on unmet needs New original research for women’s healthcare Growing availability of Cariprazine globally Access to Awareness raising programs health Diverse and expanding portfolio of affordable medicines PEOPLE Busin
Slide 40: GHG emissions: further down; aligning targets with SBTi
GHG emissions: further down; aligning targets with SBTi Richter carbon footprint in Hungary (Scope 1-2-3, kt CO2eq/year) Key Environmental messages • In 2024, we laid the foundations for aligning the Group’s -3.5% -4.5% +1.5% carbon footprint targets and calculation methodology with the 235 227 220
Slide 41: ESG focused initiatives
ESG focused initiatives Preservation of natural resources: optimization of water consumption Water consumption in Richter, Hungary Efficient water consumption 1992-2024 1000m3 • Continuous reduction in water consumption by: 4 500 4 000 Process optimization for efficient water use in our technologi
Slide 42: Steroids in wastewater – well below the safety threshold
Steroids in wastewater – well below the safety threshold Pharmaceuticals in the environment - steroids PEC/PNEC* API Site Roll-out (acceptable value <1) • Following the working out and acceptance of a risk desogestrel Budapest 2023 0.11 assessment system and methodology, we rolled out a drospirenone
Slide 43: Diversity vision
Diversity vision The presence of diverse experience, Key initiatives: knowledge, professional background, skills, opinions and thoughts enables us to elevate • Analysis of existing • Focus groups on • DEI the standard of care in key therapeutic Mapping DEI HR data and special issues and/or organizat
Slide 44: Risk management framework
Risk management framework Integral part of Richter's activities and corporate governance system Regular reports to decision-making bodies Independent risk management function Holistic and integrated risk management system Connected to the realization of strategic goals Rules, regulations, limits, co
Slide 45: Key financial, strategic and operational risks
Key financial, strategic and operational risks Financial risks Main strategic and operational risks Risk Mitigation Risk Mitigation Hedging strategy, New sources of supply for manufacturing, V Currency risk Russian-Ukrainian war* natural hedges, shorter monitoring system, compliance with H Most of C
Slide 46: Financials
Financials 6) GEDEON RICHTER
Slide 47: Ex-CNS Revenues to more than double by 2035
Ex-CNS Revenues to more than double by 2035 Pharma Revenues 2020-2035 (EUR bn) Pharma Revenues, 2020-24 (HUFbn) WHC CNS CNS GM Other Pharma-ex CNS ~7-8% CAGR (ex-CNS) BIO 845 +17% 747 656 286 2.30-2.40 256 505 2.14 229 457 165 251 0.61 146 227 ~3.2-3.5 226 54 184 190 46 41 ~2.2-2.4 24 31 206 243 91
Slide 48: Steady-state cEBIT margin to exceed 20% in the 30s
Steady-state cEBIT margin to exceed 20% in the 30s Clean EBIT margin between 2020-2035E (%) Clean EBIT, 2020-2024 (HUF bn) cEBIT margin (ex-CNS) WHC CNS 40 cEBIT margin GM Other 280 +23.2% BIO 236 44 35 206 39 40 46 43 30 143 122 50 Margin volatility in 2022-23 due to the RUB 32 25 25 fluctuation; 2
Slide 49: The heavy lifting has to happen until LoE
The heavy lifting has to happen until LoE The source of the margin improvement (cEBIT margin ex-CNS, %) ~+2ppt ~+10ppt 22%+ 20%+ 10.4 2024A Self- Commercial Commercial G&A Portfolio Operational Infrastructure 2031E R&D step-up Portfolio Biotech CAPEX 2035E sufficient excellence footprint complexity
Slide 50: Capital allocation priorities: R&D, external innovation, shareholders
Capital allocation priorities: R&D, external innovation, shareholders Key highlights • More for R&D – R&D will be the biggest use of cash in 2025-35 with c. 30-35% of pre-R&D cash spent • Less for Capex (physical infrastructure) and NWC - proportionally much less spend than in the last 5 years • Ext
Slide 51: Capital allocation – balancing between predictability and flexibility
Capital allocation – balancing between predictability and flexibility Protecting shareholders’ interest and providing an attractive income stream • Richter can sustain paying at least EUR 200mn annual dividends in 2025-35, even beyond Vraylar LoE • Richter to pay out 30-50% of its adjusted net incom
Slide 52: Sustainable long-term dividend with material upside through 2030
Sustainable long-term dividend with material upside through 2030 A conceptual path to future dividends (EUR mn, all hypothetical values beyond 2024) Dividend per share, payout ratio (HUF; %) Dividend Min. dividend 600 100 Dividend upside 509* 90 30% payout 500 80 432 50% payout 391 70 400 60 47 49 3
Slide 53: Shareholders structure
Shareholders structure 6% 5% 6% 10% International institutional investors Domestic institutional investors 10% Retail investors Free float: Foundation for National Health and Education of Medical Doctors ~73% 2% Maecenas Universitatis Corvini Foundation Mathias Corvinus Collegium Foundation Treasury
Slide 54: Executive compensation overview
Executive compensation overview Short-term incentive: CEO KPIs Short-term incentive is an annual bonus set as a fixed % of the salary CEO and CFO payout breakdown in 2024 based on the executive’s job level. Main KPIs: • Clean Ebit growth • New product registration/launch 4% 8% • Key/flagship product
Slide 55: Q1 2025 update
Q1 2025 update 55 55
Slide 56: Q1 2025 highlights – growing from a strong base
Q1 2025 highlights – growing from a strong base Pharma Revenues (CER*) Q1 2025 CER revenue growth was +6% from a around +10% high base (FX added 4ppt to reported growth) boosted guidance (EUR 2.3-2.4bn) by WHC pre-shipments 2025 Q1 2025 CER Clean EBIT rose by 4%; growth Clean EBIT (CER*) around +10%
Slide 57: Pharmaceutical revenues (ex-FX) rose by 6% in Q1 2025
Pharmaceutical revenues (ex-FX) rose by 6% in Q1 2025 Pharmaceutical Revenues, cumulative (HUF bn, EUR mn) Pharmaceutical Revenues by region (HUF bn) +10.0% +5.6% Western Europe 36.5 41.6 220.1 211.3 539 200.1 Central Europe 43.4 46.1 Eastern Europe 38.5 43.8 North America 57.4 63.5 Asia & Pacific 1
Slide 58: Clean EBIT (ex-FX) increased by 4%; FX was a tailwind in Q1
Clean EBIT (ex-FX) increased by 4%; FX was a tailwind in Q1 Pharmaceutical Clean EBIT*, cumulative (HUF bn, EUR mn) Key messages • Clean EBIT (pharma) rose by 8% YoY in Q1 2025 to HUF +8.1% +3.8% 69bn, driven by higher CNS earnings 68.7 167 63.5 • No material milestone income was booked in Q1 2025 v
Slide 59: Below-the-line: strong net profit, also supported by net financials
Below-the-line: strong net profit, also supported by net financials Net Profit in Q1 2025, below-Clean EBIT items (HUF bn) 0.9 1.8 Includes taxes calculated in line with 1.6 Global Minimum Tax and some 13,8 deferred tax expenses 9,9 68.5 67.8 68.1 0.8 0.0 Clean EBIT Other rev/exp, EBIT FX gain/losse
Slide 60: Sustained robust cash generation in Q1 2025
Sustained robust cash generation in Q1 2025 Free Cash Flow in Q1 2025 (HUF bn) Key messages Mostly driven by a seasonal Application of Cash Flow • Free Cash Flow was HUF 60bn in Q1 2025, 81,1 decline in payables increasing by 14% YoY, reflecting stronger 17,7 operating profitability, a more moderate
Slide 61: Leadership team
Leadership team Gábor Orbán László András Kovács Dr István Greiner CEO CFO R&D Director Appointed Chief Executive Officer from Graduated at Corvinus University Budapest Appointed Research Director in 2014. November 1, 2017. Began his professional in 2006. He began his career at PwC Chemical engineer
Slide 62: Leadership team
Leadership team Katalin Erdei Attila Szénási Tamás Szolyák HR & Technical Director Chief Operating Officer Director of Global Regulatory Science and Commerce & Marketing After graduating at the University of Szeged Joined the Company in 2019 as Director Joined the company in September 2018 as from t
Slide 63: References
References Women’s Healthcare 1 https://www.grandviewresearch.com/industry-analysis/womens-health-market 2 (a) https://ec.europa.eu/eurostat/statistics-explained/index.php?oldid=664290 (b) https://data.worldbank.org/indicator/SP.DYN.TFRT.IN?locations=US 3 https://www.grandviewresearch.com/industry-a
Slide 64: Contacts and financial calendar
Contacts Financial calendar Company name: Gedeon Richter Plc. | 13 May 2025 – Q1 2025 results Sector: Pharmaceutical | 6 August 2025 – Q2/H1 2025 results Company address: 1103 Budapest, Gyömrői út 19-21., Hungary | 6 November 2025 – Q1-Q3 2025 results Telephone: +36 1 431 5764 Investor relations man
Slide 65: Disclaimer
Disclaimer This presentation may contain forward-looking statements, that may include, but are not limited to, those regarding capital, investment, cash flows, demand, earnings, efficiency, production, profits. These forward-looking statements are subject to risks, uncertainties, and other factors,