Acrux Limited · ASX:ACR
Acrux — Shareholder Meeting (November 2011)
15 slides from Acrux's shareholder meeting presentation, Nov 23, 2011
Slide 1: Annual General Meeting 23 November 2011 - CEO Presentation
Annual General Meeting 23 November 2011 For personal use only Acrux (ASX: ACR) Richard Treagus CEO Presentation
Slide 2: Forward-Looking Statements
2 FORWARD-LOOKING STATEMENTS For personal use only This presentation includes forward-looking statements that are subject to risks and uncertainties. Such statements involve known and unknown risks and important factors that may cause the actual results, performance or achievements of Acrux to be ma
Slide 3: Business Milestones
3 BUSINESS MILESTONES For personal use only • Axiron® approved by FDA for marketing in United States, triggering receipt of US$87 million from Eli Lilly (Nov 2010) • Axiron launched by Lilly in United States (April 2011) • United States testosterone therapy market grew by 29% to US$1.2 billion (2010
Slide 4: 2010/11 Financial Year Results
4 2010/11 FINANCIAL YEAR RESULTS For personal use only • Profit after tax $57m (2010: $47m) • Revenue $93m (2010: $56m) • Earnings per share 35 cents (2010: 29 cents) • Total Shareholder Return +120% tax-free – $1.58 capital growth 30 June 2011 versus 30 June 2010 – $0.60 special dividend paid April
Slide 5: ACR Share Price Performance Since IPO
5 ACR SHARE PRICE PERFORMANCE SINCE IPO For personal use only 60 cents dividend Axiron FDA approval Lilly deal Evamist $23m placement Axiron Phase 3 to fund Axiron Phase 3 success success $30m IPO ASX 300 ASX 200
Slide 6: Axiron Partnership with Eli Lilly
6 AXIRON PARTNERSHIP WITH ELI LILLY For personal use only • Lilly receives exclusive worldwide rights to Axiron • Acrux revenue: – US$50 million on signing (received 2009/10) – US$3 million on transfer of manufacturing assets (received 2010) – US$87 million on FDA marketing authorisation (received 2
Slide 7: Lilly Is Committed to Men's Health
7 LILLY IS COMMITTED TO MEN’S HEALTH For personal use only • A randomized, double-blind, placebo-controlled, proof-of-concept study to explore the impact of Testosterone Solution 2% on symptoms of ejaculatory dysfunction in men with testosterone deficiency (www.clinicaltrials.gov) • Acrux providing
Slide 8: Testosterone Market Is Growing
8 TESTOSTERONE MARKET IS GROWING Male Hormone Replacement Therapy Market For personal use only US Market OUS Market 2005 - 2010 2005 - 2010 1,400,000 250,000 29% 1,200,000 10% 14% 1% 200,000 29% 1,000,000 20% 21% 12% 800,000 150,000 USD USD 20% 600,000 15% 100,000 400,000 50,000 200,000 - - 2005 200
Slide 9: Axiron – Strong Uptake by Specialists
9 AXIRON – STRONG UPTAKE BY SPECIALISTS Share of transdermal New To Brand Prescriptions (NBRx) by Specialists For personal use only 28%
Slide 10: Axiron – Strong Uptake by PCPs
10 AXIRON – STRONG UPTAKE BY PCPs Share of transdermal New To Brand Prescriptions (NBRx) by Primary Care Physicians For personal use only 25%
Slide 11: Axiron – Total Prescription Growth
11 AXIRON – TOTAL PRESCRIPTION GROWTH Axiron’s share of transdermal Total Prescriptions (TRx) For personal use only 10.7% Total 8.8% 8.3%
Slide 12: US Reimbursement Process
12 US REIMBURSEMENT PROCESS For personal use only • INSURANCE PLANS meet the cost of approved medicines, but require a patient CO-PAY • The CO-PAY is determined by inclusion on a FORMULARY • Payers may wait 9-12 months to add new products to a formulary • While formulary access builds, co-pay cards
Slide 13: Animal Health
13 ANIMAL HEALTH For personal use only • Exclusive global licence for animal health products utilising Acrux’s delivery technology • Acrux earns royalties plus product approval milestones • First product Recuvyra® approved for marketing in Europe – launch early 2012 • Recuvyra under review by FDA •
Slide 14: Outlook
14 OUTLOOK For personal use only • Re-affirming forecast of revenue from Axiron: – 2011/12: US$7m – US$8m – 2012/13: approximately US$40m • Expenditure $0.5m per month, partly offset by technical services to Lilly • Next dividend August 2012 • Axiron 2026 patent – United States review at advanced st
Slide 15: For personal use only
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