Biogen Inc. · NASDAQ:BIIB
Biogen — Biogen Idec — 30th Annual Cowen & Company Healthcare Conference 2010
22 slides from Biogen's conference presentation, Mar 10, 2010
Slide 1: 30th Annual Cowen & Company Healthcare Conference
30th Annual Cowen & Company Healthcare Conference March 10, 2010
Slide 2: Forward-looking statements
This presentation includes forward-looking statements about: our strategy for maximizing shareholder value the ability to improve the benefit-risk profile of TYSABRI(r) and drive future growth ongoing development initiatives and growth strategies for our marketed products the anticipated development
Slide 3: 2009 in Review
2009 in Review Revenue grew despite headwinds TYSABRI achieved 'blockbuster' status Late stage pipeline advanced and expanded Double digit non-GAAP diluted earnings growth Significant progress on $1 billion 2009 BIIB Stock Repurchase Program
Slide 4: Financial Results
2003 1.9 2004 2.2 2005 2.4 2006 2.7 2007 3.2 2008 4.1 2009 4.4 Financial Results Note: EPS numbers are Non-GAAP and exclude the impact of purchase accounting, merger-related adjustments, stock option expense, and other items and their related tax effects. GAAP to non-GAAP EPS reconciliation is provi
Slide 5: Growing and Diversified Revenue
2003 2009 AVONEX U.S. 0.4211 0.3223 ROW AVX 0.2105 0.2072 us rtx 0.2105 0.1842 row rtx 0.0526 0.0691 US TYS 0 0.046 Total ROW TYS 0 0.1252 Other 0.1053 0.046 Growing and Diversified Revenue Growing and Diversified Revenue 6 Note: 2003 amounts represent pro forma information of the historical results
Slide 6: Business Drivers
13 Disciplined Use of Cash Extend AVONEX and RITUXAN through Lifecycle Management Accelerate TYSABRI Growth Advance our Pipeline SHAREHOLDER VALUE Business Drivers
Slide 7: TYSABRI Powerful Efficacy
TYSABRI Powerful Efficacy 2003 2004 2005 2006 2007 2008 2009 U.S. 86 99 25 218 422 508.6 35 344 813 1059 ROW 73 101 10 126 391 551 TYSABRI In-Market Sales ($M)
Slide 8: TYSABRI Benefit-Risk Profile
TYSABRI Benefit-Risk Profile One of the most extensively studied MS drugs Risk-management program is one of the most rigorous ever designed Research to reduce PML risk and improve outcomes Plasma Exchange (PLEX) Mefloquine clinical trial Viral coat protein variants (VP1) JC Virus Antibody Test Polma
Slide 9: Driving Future TYSABRI Growth
Stratify Patient Risk JCV antibody assay Ongoing research: Duration Immunosuppression Possibly other factors Evaluate JCV Antibody Assay Initiated clinical trials JCV incidence Utility for risk stratification Evaluate Switching Study to evaluate switching to TYSABRI vs. Copaxone(r) and Rebif(r) Expa
Slide 10: AVONEX Start Early and Stay Active Longer
AVONEX Revenue ($B) AVONEX Start Early and Stay Active Longer 2003 2004 2005 2006 2007 2008 2009 U.S. 800409336 922572252 938672133 1022209985 1085020668 1276450400 1406184890 1168475855 1417157412 1543084739 1706718770 1867841947 2202532595 2322893832 ROW 368066519 494585160 604412606 684508785 782
Slide 11: RITUXAN Cornerstone of Therapy
RITUXAN U.S. Revenue ($B) Highlights RITUXAN Cornerstone of Therapy 2003 2004 2005 2006 2007 2008 2009 BIIB US Profit Share (in $ millions) 192 199 203 BIIB Revenue (in $ millions) 299 276 284 US Net Sales (in $ millions) 1.36 1.574 1.831 2.071 2.285 2.587 2.6655 +11% CAGR NHL 1st line maintenance r
Slide 12: 2010 Pipeline
Psoriasis Hemophilia B Rheumatoid Arthritis Crohn's Disease 2010 Pipeline Daclizumab Anti-LINGO AVONEX TYSABRI Ocrelizumab BG-12 BIIB014 Neublastin RITUXAN FUMADERM Pain Multiple Sclerosis Multiple Sclerosis Multiple Sclerosis Multiple Sclerosis Multiple Sclerosis Parkinson's MS Non-Hodgkin's Lympho
Slide 13: MS Pipeline
MS Pipeline PEGylated Interferon (Phase 3) BG-12 (Phase 3) Daclizumab (Phase 2) Fampridine (Registration) Anti-Lingo (Phase 1)
Slide 14: Fampridine
Fampridine Filed in E.U., Canada, Switzerland and Australia Global neurology sales force - relationships with neurologists for over a decade R&D, Mfg and Commercial organizations preparing for possible launch. Pharmacoeconomic research, Compassionate use programs, Packaging development and Manufactu
Slide 15: BG-12
BG-12 Two Ph. 3 clinical studies fully enrolled (DEFINE) and (CONFIRM) Studies follow 2,500 patients in more than 30 countries worldwide. Oral therapy with potential for IFN-like efficacy MOA suggests potential for additional neuroprotective effects FUMADERMTM 15-year track record of long-term safet
Slide 16: PEGylated Interferon Beta-1a
PEGylated Interferon Beta-1a molecule, structural representation PEGylated Interferon b-1a Phase 3 trial initiated in June 2009 PEGylated version of Inteferon beta-1a (PEG IFN) delivered via liquid prefilled syringe Increased half-life and systemic exposure of the protein May improve convenience and
Slide 17: Emerging Opportunity in Hemophilia
Emerging Opportunity in Hemophilia Factor IX registrational trial (B- LONG) initiated during Q4 '09 Currently no long-acting products commercially available Currently standard of care requires 2 to 3 injections per week Goal of once-weekly infusions ~50 per year instead of current standard of ~100 t
Slide 18: Disciplined Use of Cash
Disciplined Use of Cash $1 billion Share Repurchase program announced in October 2009 Objective to return cash to shareholders Significant progress to date Returned $712 million under the 2009 plan through February 5, 2010 Total cash returned from 1/1/09 to 2/5/10 was $1,040 million, including 2010
Slide 19: Business Drivers
13 Disciplined Use of Cash Extend AVONEX and RITUXAN through Lifecycle Management Accelerate TYSABRI Growth Advance our Pipeline SHAREHOLDER VALUE Business Drivers
Slide 20: GAAP to non-GAAP Reconciliation
GAAP to non-GAAP Reconciliation Q4-09 Diluted EPS & Net Income Attributable to Biogen Idec and 2010 Guidance Notes: The non-GAAP financial measures presented in this table are defined as reported, or GAAP, values excluding (1) certain purchase accounting and merger-related adjustments, (2) stock opt
Slide 21: GAAP to non-GAAP Reconciliation
21 GAAP to non-GAAP Reconciliation Notes: The non-GAAP financial measures presented in this table are defined as reported, or GAAP, values excluding (1) certain purchase accounting and merger- related adjustments, (2) stock option expense and the cumulative effect of an accounting change relating to
Slide 22: Pipeline Milestones 2010-2011
H1 Factor IX Fc, Ph. 3, Hemophilia B, FPI Anti-LINGO, Ph. 1, MS, FPI Adentri, Ph. 2b, ADHF, Readout Aviptadil, Ph. 2, PAH, Readout ? RITUXAN, CLL, PDUFA ? Ocrelizumab, Ph. 3, RA, Readouts RITUXAN, Follicular NHL Maint, Filing ? TYSABRI, Ph. 4, SURPASS, FPI Daclizumab, Ph. 3, MS, FPI GA101, Ph. 3, Ri
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