Kyowa Kirin Co., Ltd. · TSE:4151
Kyowa Kirin — Q3 2021 Earnings Presentation
23 slides from Kyowa Kirin's earnings presentation, 2021
Slide 1: Results Presentation Fiscal 2021 Third Quarter
Results Presentation Fiscal 2021 Third Quarter
Slide 2: Agenda
Agenda Financial Review Executive Officer, Finance Motohiko Kawaguchi Commercial Update Managing Executive Officer, Corporate Strategy & Planning Takeyoshi Yamashita, Ph.D. R&D Update Executive Officer, Vice President, R&D Yoshifumi Torii, Ph.D. Q&A Managing Executive Officer, Corporate Strategy & P
Slide 3: Forward-looking statements
This document contains certain forward‐looking statements relating to such items as the company’s (including its domestic and overseas subsidiaries) forecasts, targets and plans. These forward‐looking statements are based upon information available to the company at the present time and upon reasona
Slide 4: Financial Review
Financial Review © Kyowa Kirin Co., Ltd. 4
Slide 5: Summary of Q3 Results
Summary of Q3 Results ( Billion Yen / Rounded ) 2020Q3 2021Q3 Changes 2021 Progresses Results Results Plans Revenue 234.0 254.0 +20.0 (+9%) 351.0 72% [Overseas Ratio] [47%] [53%] [54%] Gross Profit 175.4 189.9 +14.5 (+8%) 270.0 70% [Gross Profit Margin] [75%] [75%] [77%] SG&A 88.1 104.1 +16.0 (+18%)
Slide 6: YoY Analysis -Revenue-
YoY Analysis ‐Revenue‐ Japan ‐4.7 Crysvita, Haruropi, Duvroq (New products), G‐Lasta (Market’s expansion & recovery) and Patanol (Higher pollen) and increased. However, Nesp‐AG (Competitors) and Romiplate +20.0 billion yen (Supply constraints) were down. In addition, there were negative impacts by
Slide 7: Revenue of Major Items (Japan)
Revenue of Major Items (Japan) ( Billion Yen / Rounded ) 2020Q3 2021Q3 Changes 2021 Progresses Item Results Results Reasons Plans Nesp + Nesp‐AG*1 21.9 19.6 ‐2.3 (‐11%) 23.2 84% Biosimilars’ penetration Nesp 3.3 2.9 ‐0.4 (‐12%) & NHI price‐cut 3.8 77% Nesp‐AG 18.6 16.7 ‐2.0 (‐11%) 19.4 86% Duvroq 0.
Slide 8: Revenue of Major Items (ex-Japan)
Revenue of Major Items (ex‐Japan) ( Billion Yen / Rounded ) 2020Q3 2021Q3 Changes 2021 Progresses Item Reasons Results Results Plans Crysvita 38.5 55.1 +16.5 (+43%) [North America] Market penetration 77.2 71% North America 30.3 40.3 +10.0 (+33%) & Expanded indication (TIO) [EMEA] Farther launches &
Slide 9: YoY Analysis -Core OP-
YoY Analysis ‐Core OP‐ ‐3.9 billion yen (incl. forex effect +1.1) Gross Profit +14.5 (incl. forex effect +3.7) • Increased in conjunction with 20.0B yen rise in revenue. SG&A ‐16.0 (incl. forex effect ‐2.4) Increased for the maximization of “Global Strategic 3 Brands” (G3B) and the early consoli
Slide 10: YoY Analysis -Profit-
YoY Analysis ‐Profit‐ Profit (Jan‐Sep) ‐4.6 billion yen • Provision for compensation losses [3.4→ ‐] +3.4 • Business restructuring expenses [2.1→0.1] +2.0 • Impairment losses [2.7(KHK2375 IPR&D 2.6)→4.9(Haruropi Sales rights 4.2)] ‐2.2 • Foreign exchange gain/losses [gain 8→loss 1] ‐0.9 • UK subsidi
Slide 11: Commercial Update
Commercial Update © Kyowa Kirin Co., Ltd. 11
Slide 12: Crysvita revenue and topics
（Billion Yen） 25 Topics 1.9 1.8 20 North America: Steady progress in identifying new cases. EMEA: Market expansion in adults is driving the growth. In some 1.4 1.5 countries where reimbursement negotiations are underway, the 15 number of patients administered is increasing due to EAP. 1.1 APAC
Slide 13: Poteligeo and Nourianz revenue and topics
（Billion Yen） 5 0.5 Topics 4 0.5 America: Started new promotional campaign for MF/SS patients with blood 0.5 0.6 0.5 3 tumor. Japan EMEA: Launched in Spain (July), approved in Switzerland (September). 3.2 3.3 2 North America 2.8 2.6 2.6 Launched Countries as of September 30, 2021 EMEA Bolded typ
Slide 14: R&D Update
R&D Update © Kyowa Kirin Co., Ltd. 14
Slide 15: Upcoming Events: Next-generation Strategic Products
Upcoming Events: Next‐generation Strategic Products : Completed events from Jan 1 to Aug 3, 2021 : Completed events from Aug 4 to Nov 1, 2021 Code Target disease H1 2021 H2 2021 H1 2022 generic name KHK4083/AMG 451 Atopic dermatitis P2b topline data P2b detailed data P3 FPI P2b detailed data KW‐6356
Slide 16: Appendix
Appendix © Kyowa Kirin Co., Ltd. 16
Slide 17: FOREX Information
FOREX Information Average FOREX Rate (Yen) Currency 2020Q3 2021Q3 Change 2021 Results Results Plans USD/JPY 108 108 ー 105 GBP/JPY 137 149 +12 140 2021Q3 FOREX Impacts (YoY) (Billion yen) Currency Revenue Core OP USD/JPY ‐0.1 ‐0.2 GBP/JPY +3.2 +0.6 FY2021 FOREX Sensitivity (Billion yen) Currency Chan
Slide 18: Crysvita - Collaboration with Ultragenyx
Crysvita ‐ Collaboration with Ultragenyx ‐ Territories Economic terms • Kyowa Kirin books sales • 50/50 profit share for 5 years from the U.S. launch U.S. & Canada • After 5 years, Kyowa Kirin pays tiered sales royalties in mid‐high 20% range to Ultragenyx • Supply price: 35% of net sales through 20
Slide 19: KHK4083 - Collaboration with Amgen
KHK4083 ‐ Collaboration with Amgen ‐ US Europe and Asia (ex. JP) JP • Amgen leads development • Amgen leads development Development • Share development cost • Share development cost • Kyowa Kirin leads development • Amgen commercializes • Amgen commercializes Commercialization and books sales and bo
Slide 20: Development Plan of Next-generation Strategic Products
Development Plan of Next‐generation Strategic Products T : Topline data D : Detailed data As of Nov 1st, 2021 Code ＋ generic name Target disease 2021 2022 2023 P2b T D KHK4083/AMG451 Atopic dermatitis P3 P2b D KW‐6356 Parkinson’s disease P3 FL (mono, 3L) P2 T ME‐401 MZL (mono, 3L) P2 Zandelisib FL/M
Slide 21: Estimated Patient Numbers
Estimated Patient Numbers Country/ Disease Incidence Prevalence* Reference Region ATL JP 1,150 / y Survey and countermeasures to HTLV‐1 infection and related diseases in Japan. 2009 summary research report (Yamaguchi, 2010) PTCL JP 2,000 Ministry of Health, Labour and Welfare: 2017 Patient survey (i
Slide 22: List of Acronyms
List of Acronyms AD Atopic Dermatitis ADPKD Autosomal Dominant Polycystic Kidney Disease AG Authorized Generic AS Alport Syndrome ATL Adult T‐Cell Leukemia/Lymphoma BS Biosimilar CKD Chronic Kidney Disease DKD Diabetic Kidney Disease FL Follicular Lymphoma iB‐NHL Indolent B‐cell Non‐Hodgkin Lymphoma
Slide 23: Kyowa Kirin Co., Ltd. Corporate Communications Dept., IR Group
Kyowa Kirin Co., Ltd. Corporate Communications Dept., IR Group +81‐3‐5205‐7206 / ir@kyowakirin.com