Recordati S.p.a. · MIL:REC
Recordati — Investor Presentation (November 2006)
13 slides from Recordati's investor presentation, November 2006
Slide 1: Company profile
November, 2006 2006 - 2010 Company profile ¾ A fully integrated pharmaceutical company listed on the Italian Stock Exchange since 1984 ¾ Original research focused on cardiovascular and urological fields ¾ A European company - marketing operations in all the main countries (France, Germany, Italy, Sp
Slide 2: Pharmaceutical revenue by geographical area
Pharmaceutical revenue by geographical area UK International licensees Spain 2% 21% 6% Germany 9% Total revenue Pharmaceuticals France 93% 24% Italy 38% Data: First nine months 2006 Total revenue € 440 m Pharmaceutical Pharmaceutical revenue € 410 m chemicals 7% 2 Pharmaceutical revenue % of pharmac
Slide 3: ZANIDIP (lercanidipine) and launch status
ZANIDIP® (lercanidipine) ¾ Latest generation calcium-channel blocker. Lipophilic dihydropyridine. ¾ Natural once a day. Potent, long-lasting vasodilatory activity. Highly vasoselective with gradual onset, smooth and uniform blood pressure lowering activity. ¾ Efficacy as best in class. Significantly
Slide 4: Lercanidipine share of CCB market; R&D pipeline
Lercanidipine as a % of all calcium channel blockers Bubble size represents $ market value of CCB’s France 20 % share of CCB market Germany Australia Italy 15 Austria S.Korea 10 Spain Belgium U.K. 5 Holland 0 3 4 5 6 7 8 9 Years from launch Source: IMS data – 12 months rolling to June 2006 6 R&D pip
Slide 5: Lercanidipine life cycle management
Zanitek®/Zanipress® (lercanidipine+enalapril) approved in Germany (RMS) ¾ Fixed combinations will play a significant role in the future hypertension market ¾ New aggressive targets for blood pressure control. Combination of drugs needed for most patients ¾ Increased patient compliance ¾ Recent large
Slide 6: Fentanyl transdermal patch; Rupatadine
Fentanyl transdermal patch ¾ Central-acting potent analgesic to treat moderate to severe chronic pain such as that experienced in cancer ¾ Transdermal patch designed to deliver fentanyl through the skin for up to three days ¾ Originator: Lavipharm ¾ Market of reference: class N2A sales in the 5 majo
Slide 7: Silodosin; Stanate (stannsoporfin)
Silodosin ¾ Selective alpha-1A receptor antagonist indicated for the symptomatic treatment of benign prostatic hyperplasia ¾ Benign prostatic hyperplasia increasing in frequency due to the progressive ageing of the population ¾ Originator: Kissei ¾ Market of reference: class G4C European sales, appr
Slide 8: Infasurf; Urogenital programs
Infasurf® ¾ A calf derived surfactant for the prevention and treatment of neonatal Respiratory Distress Syndrome (RDS). ¾ Neonatal RDS is a life-threatening disease which affects mainly premature infants and surfactants are well established in the treatment of this condition. ¾ Originator: Ony ¾ Mar
Slide 9: First nine months 2006 operational highlights
First nine months 2006 operational highlights ¾ Revenue € 439.6 million, up 3.6% ¾ Further increase in profitability, gross margin 67.1%, EBIT margin 20.9% ¾ Lercanidipine sales up 26.4% ¾ Rights to Corifeo® (lercanidipine) in Germany repurchased from licensee UCB ¾ Zanitek®/Zanipress® (lercanidipin
Slide 10: Sources of growth; Lercanidipine sales
Sources of growth (% change, first nine months 2006 Volume Price Exchange Total over first nine months 2005) PHARMACEUTICALS 5.8 (2.5) 0.1 3.4 PHARMACEUTICAL 8.3 (4.0) 1.5 5.8 CHEMICALS * TOTAL CHANGE 6.0 (2.6) 0.2 3.6 * Excludes discontinued operations 18 Lercanidipine sales (million euro) Jan-Sep
Slide 11: First nine months 2006 results; Net financial position
First nine months 2006 results (million euro) Jan-Sep 2006 Jan-Sep 2005* Change % Revenue 439.6 424.4 3.6% Gross Profit 294.7 276.7 6.5% as % of revenue 67.1% 65.2% SG&A Expenses 167.7 162.0 3.5% as % of revenue 38.2% 38.2% R&D Expenses 34.1 31.6 as % of revenue 7.8% 7.4% 8.1% Operating Income 92.0
Slide 12: Outlook for 2006 and 2010 targets
Outlook for 2006 and 2010 targets (million euro) 2005 2006 REVENUE 576.1 ~ 600 OPERATING INCOME 111.1 ~ 120 NET INCOME 64.5 ~ 75 Assumptions: Not considering any future acquisitions (million euro) 2005 2010 CAGR REVENUE 576.1 1,000 12% OPERATING INCOME 111.1 >200 >12.5% NET INCOME 64.5 >120 >13% Ass
Slide 13: Safe harbour and company profile
Safe harbour and company profile Statements contained in this presentation, other than historical facts, are “forward-looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are based on currently available information, on current best