Assertio Holdings, Inc. · NASDAQ:ASRT
Assertio — Investor Presentation (September 2020)
23 slides from Assertio's investor presentation, Sep 14, 2020
Slide 1: Driving Growth through Commercial Excellence and Business Development
Driving Growth through Commercial Excellence and Business Development September 2020 |
Slide 2: Forward Looking Statement
Forward Looking Statement Statements in this communication that are not historical facts are forward-looking statements that reflect Assertio’s current expectations, assumptions and estimates of future performance and economic conditions. These forward-looking statements are made in reliance on the
Slide 3: Experienced Team with Proven Track Record of Success
Experienced Team with Proven Track Record of Success Todd Smith Mark Strobeck, Megan Timmins Dan Peisert Sarah Longoria CEO, President PhD General Counsel CFO VP of HR and Director COO 3 |
Slide 4: Supportive and Experienced Board
Supportive and Experienced Board Timothy Walbert Arthur Higgins Lead Independent Director Non-executive Chairman Chairman, President and CEO of Horizon • Heather Mason • Peter D. Staple Former Senior Executive, Abbott Laboratories Former CEO, Corium International, Inc. • William T. McKee • James L.
Slide 5: Assertio Presents a Unique Investment Opportunity
Assertio Presents a Unique Investment Opportunity Transformed the Company Growing Portfolio of Branded, Strong Financial Foundation Differentiated Prescription Medications • ‘19 pro forma net product sales of $126.3 MM May 2020 • $40 MM in synergies • Business was profitable on Zyla Life Sciences ad
Slide 6: Complimentary Product Portfolios
Complimentary Product Portfolios Zyla Life Sciences Assertio Therapeutics 1 Sold to Collegium Paid off Assertio debt 1 Sold to Alvogen 80 sales representatives 70 sales representatives 6 | 1. In process of terminating iCeutica license for Solumatrix products.
Slide 7: Focused on Neurology, Hospital and Pain & Inflammation
Focused on Neurology, Hospital and Pain & Inflammation Pain & Neurology Inflammation Hospital 10 sales territories 70 sales territories 7 |
Slide 8: Positioned to Grow through Execution, Cash Management & BD
Positioned to Grow through Execution, Cash Management & BD Commercial execution • Optimized newly integrated commercial salesforce • Launched new commercial strategy • Neurology focused sales team • New SPRIX distribution • Launched hub and SP network Financial controls and efficiencies designed to
Slide 9: Commercial Excellence w/ New Strategy Addressing Today’s Market
Commercial Excellence w/ New Strategy Addressing Today’s Market The Right Team The Process in Place • Proven leadership with track record of • Data-driven targeting to optimize results efficiencies • Metrics-focused sales management • Impactful brand promise that focuses on • Neurology sales team &
Slide 10: Hub & SP Network Supports Patient Access and Profitability
Hub & SP Network Supports Patient Access and Profitability Current Models Have Limitations Assertio’s Innovative Hub and SP Network Traditional Retail Specialty Pharmacy Pharmacies purchase directly from Assertio Network is scalable and adaptable to product • Additional distribution costs • Cost
Slide 11: SPRIX Positioned to Grow in Neurology & Outpatient Surgery
SPRIX Positioned to Grow in Neurology & Outpatient Surgery Selling Strategy • Neurology focus: ‒ Pain associated with headaches ‒ Complete solution offered with Cambia Dr. Benson, neurologist1 • Outpatient surgeries: ‒ Delayed due to COVID-19 ‒ ~11% annual growth >17 MM ‒ 40%+ of SPRIX use Outpatien
Slide 12: Cambia, Fast-Acting NSAID with Unique Migraine Indication
Cambia, Fast-Acting NSAID with Unique Migraine Indication Selling Strategy • New dedicated selling team calling on headache and migraine specialists o Focused on neurologists >38 MM o Complements SPRIX Migraine sufferer1 • Promotionally sensitive People in U.S. have migraines Commercial Progress 12%
Slide 13: Growth Seen in July for Zipsor
Growth Seen in July for Zipsor 1 Selling Strategy • 70 sales representatives calling on NSAID/diclofenac specific targets • Promoted for first time to dedicated targets >70 MM Commercial Progress NSAID • Piloted innovative hub in select prescriptions 10 MM+ territories Diclofenac annual written/yr i
Slide 14: Life Cycle Management Strategy for Indocin
Life Cycle Management Strategy for Indocin >2 MM 600 K Indomethacin ERCP retail Rx’s procedures annually annually Commercial Medical Field P3 NPP Med Affairs MSLs Distribution Telesales Email Growth Strategy Life Cycle Management • Sales representatives promoting both forms • Working with academic e
Slide 15: Key Products Have Barriers to Generic Competition
Key Products Have Barriers to Generic Competition Product Barriers SPRIX Cold chain product Complicated manufacturing Exclusive HUB/Pharmacy network INDOCIN Exclusive agreement with Cosette Pharmaceuticals to 2023 Complex manufacturing Researching additional ways to secure product furthe
Slide 16: ee A.
ee A. SSSSERTIO=
Slide 17: Financial Snapshot: Q2 2020
Financial Snapshot: Q2 2020 Built Infrastructure for Long-term Growth, Yields High Incremental Margins • 2019 pro forma net product sales of $126.3 MM • $27.7 MM in pro forma net product sales in Q2:20, slightly over Q1:20 pro forma results • On track to recognize $40.0 MM annually in synergies from
Slide 18: Plan to Continue to Grow Through BD and M&A
Plan to Continue to Grow Through BD and M&A Foundation in Place PatientUtilize commercial infrastructure for growth to realize full M&A Supportsynergies. (i.e. Zyla-Assertio) Focused Seeking under-commercialized, broad therapeutic areas Product Acquisitions and additional intellectual property. Oppo
Slide 19: 2020 Milestones
2020 Milestones Financial synergies to be fully realized in 2021 Launched new commercial strategy Created a dedicated Neurology sales force Launched MSLs to support INDOCIN development and education Early Q3 positive trends Pre-paid $10 MM of senior secured debt Anticipate executing on
Slide 20: Non-GAAP Financial Measures
Non-GAAP Financial Measures To supplement the Company’s financial results presented on a U.S. generally accepted accounting principles (GAAP) basis, the Company has included information about non-GAAP measures of EBITDA and adjusted EBITDA as useful operating metrics. The Company believes that the p
Slide 21: Specified Items
Specified Items Non-GAAP measures presented within this release exclude specified items. The Company considers such specified items to be significant income/expense items not indicative of current operations. Specified items include non-cash adjustments to Collegium agreement revenue and cost of sal
Slide 22: Pro Forma Items
Pro Forma Items The Company is providing pro forma net product sales to show the net product sales as if the Zyla Merger had been completed as of January 1, 2019, and therefore the Company operated on a combined basis, including Zyla, for the entirety of 2019 and 2020 periods presented in this relea
Slide 23: Reconciliation of GAAP Net Income (Loss) to Non-GAAP & Adjusted EBITDA
Reconciliation of GAAP Net Income (Loss) to Non-GAAP & Adjusted EBITDA (in thousands) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Financial Statement Classification Net (loss) income (GAAP) $ (34,499) $ (13,605) $ 6,731 $ (27,906) Interest expense 1,604 14,8
Assertio Holdings — Investor Presentation (September 2020) on 6ix