Amphastar Pharmaceuticals, Inc. · NASDAQ:AMPH
Amphastar Pharmaceuticals — Merger or Acquisition (April 2023)
11 slides from Amphastar Pharmaceuticals's merger presentation, Apr 24, 2023
Slide 1: BAQSIMI Acquisition
Injectables Proprietary Biosimilars BAQSIMI® Acquisition Inhalation Complex Generic April 24, 2023
Slide 2: Forward Looking Statements
Forward Looking Statements All statements in this presentation and the accompanying oral presentation referenced above that are not historical are forward-looking statements, including, among other things, statements relating to Amphastar’s expectations regarding its proposed acquisition of BAQSIMI,
Slide 3: BAQSIMI Transaction Overview
BAQSIMI® Transaction Overview Product: Amphastar entered into a definitive agreement with Eli Lilly and Company to acquire BAQSIMI® (glucagon) nasal powder (the “Transaction”) Terms: Cash payments: $500 million in cash at closing $125 million in cash at 12 months after closing Contingent cash
Slide 4: Strategic Rationale: A Transformative Transaction for Amphastar
Strategic Rationale: A Transformative Transaction for Amphastar Novel intranasal glucagon product with IP protection Branded product with Expands growing sales diabetes and strong portfolio gross margin BAQSIMI® fits well into Amphastar’s proprietary product Initiate strategy Builds upon commercial
Slide 5: Amphastar Receives Patents, Marketing Authorizations and Equipment
Amphastar Receives Patent: Orange-Book listed patents Marketing Authorizations with expirations for BAQSIMI® Outside US in 2036 and 2039 • Currently approved and Trademark and marketed in 26 countries, including: domain name Canada, Germany, registration France, Italy, and Japan Approved New Drug Ap
Slide 6: Glucagon is underutilized: BAQSIMI is a category leader for ease in patient use
BAQSIMI® Patient Impact BAQSIMI® is currently a category Glucagon is underutilized: leader for ease in patient use: The American Diabetes Association (ADA) recommends that patients at increased risk Simple nasal administration: for Level 2 hypoglycemia be prescribed Currently the only non-injection
Slide 7: BAQSIMI Overview
BAQSIMI® Overview ■ BAQSIMI® is an antihypoglycemic agent indicated for the treatment of severe hypoglycemia in patients with diabetes ages 4 years and above ■ Simple nasal administration: no inhalation required ■ Single, fixed 3mg dose 1 2 3 Peel Open Push 6
Slide 8: Novel Glucagon Product Landscape
Novel Glucagon Product Landscape BAQSIMI® Gvoke Zegalogue Route of Administration Nasal Injection Injection Shelf Life 24 months 30 months 12 months Approved Age Group 4+ years 2+ years 6+ years Launch Year 2019 2019 2021 BAQSIMI® is a category leader in the novel glucagon class 7
Slide 9: BAQSIMI Worldwide Annual Sales
BAQSIMI® Sales BAQSIMI® Worldwide Annual Sales 160 $139M 140 120 $113M 100 $-Million 80 $76M 60 40 20 0 2020 2021 2022 8
Slide 10: Forecast
Forecast ■ Sales − Projected to reach $145 million to $155 million annualized in 2023 − Projected to reach peak of $225 million to $250 million ■ Adjusted EPS(1) − Project $0.25 to $0.35 incremental annualized adjusted EPS in 2023 − Project $2.00 to $2.50 incremental adjusted EPS at peak − (1) Adjus
Slide 11: Financing and Timeline
Financing and Timeline ■ Financed using $500 million loan and $150 million line of credit − Committed financing from bank syndicate including Wells Fargo Bank, Capital One, J.P. Morgan Chase Bank, Fifth Third Bank, East West Bank, Cathay Bank, and CIBC Bank − Interest rate at SOFR spread based on Ne
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